These disruptions could challenge the already supply-constrained market and threaten to derail housing affordability efforts.

Early data indicates that a strong rebound is building in the gateway cities, where office leasing activity has increased the most.

Virtually all categories are expected to show a jump in May, reflecting pent up demand among consumers.

"The question we are asking: What is the highest and best use for the property?"

"People have to sit somewhere, and most do not want to sit at home all of the time."

Vornado Realty reports that almost 600,000 square feet of sublease space has been removed from the market by occupiers who plan to reoccupy the space.

"We spent the last year expanding our delivery-only concepts and closed out 2020 with close to 200 digital kitchens, 15 brands, 1,200 employees and 1.1 million meals served."

Many companies will be reconfiguring the balance of office, with a decreased emphasis on individual workstations.