The effect of rising interest rates and where the U.S. economy is headed is weighing heavy on everyone's minds and will continue to temper office use decisions.
Tenants continue to debate whether to hold off on new commitments or adjust the amount of space they need, according to the latest VTS Office Demand Index (VODI) analysis for October.
"Staying on track with seasonal norms and recording the first two-month increase streak since early 2021 are both welcomed signs of potential stability in the market," said Nick Romito, CEO of VTS, in prepared remarks. "Heading into the end of the year, we're still left with a lot of unknown."
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