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Office demand surged in March, rising 28% from February and 161 percent in Q1 2021, according to the VTS Office Demand Index (VODI). Demand is now just 9% below pre-pandemic levels.

If the current pace continues, demand for office space in April 2021 could meet or exceed pre-pandemic levels. Half of the major markets, inducing Chicago, Los Angeles, Washington, D.C., San Francisco, and Seattle, have exceeded or are within 5% of pre-pandemic demand for office space. Still, only Seattle (18.5%), Los Angeles (-2.8%), Washington, D.C. (-4.8%) and San Francisco (-8.8%) have a VODI within 10 percent of or above their recent historical average. Even though it’s near pre-pandemic VODI levels, Chicago is 27 percent off its recent historical average.

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