Articles from VTS

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced record adoption across a number of key metrics for its resident experience solution, VTS Activate Multifamily. The announcement comes as a number of major landlords have recently selected VTS Activate Multifamily as their resident experience solution of choice, marking significant growth for VTS and a spike in metrics across the board, bringing the total number of users on VTS Activate Multifamily to nearly 600k, in over 400k residential units, across 5 countries and 3 continents globally. Major residential industry players such as Lendlease, Habitat, and Stonehenge, among others, have all selected and deployed VTS Activate as their resident experience solution of choice for properties across their portfolio.

For the first time in 20 months, demand for office space did not increase year-over-year during the first two months of the year, according to the latest VTS Office Demand Index (VODI) report. However, a surge in March activity reversed January and February’s dip, bringing office demand up 4.6 percent year-over-year by the end of Q1. The slowdown at the start of the quarter reflects growing uncertainty in the economy amid recent tension in global trade. Declining job postings, slower hiring, and broader concerns over unpredictable policy shifts likely played a role. According to the latest data from VTS, national demand for office space now stands at 68 — roughly two-thirds of its pre-pandemic level.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today released the findings from its second annual Global Workplace Report, which leverages data to pinpoint corporate tenant needs and expectations related to office space. The report is the result of a survey commissioned by VTS from an independent market research firm, reaching hundreds of business leaders from companies across the globe on their workplace strategy and sentiment for 2025.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced that it is shifting its investment focus to its core leasing and property software, and is rapidly scaling its data backbone and AI capabilities. Recent successful launches including VTS Activate – the industry’s leading TenEx and Property Management platform, as well as VTS 4 – the industry’s only platform with predictive analytics for identifying tenant activity, have created a significant increase in demand from customers for additional data across every aspect of its business. As VTS Activate, the world’s most-adopted tenant experience technology solution, continues to rapidly scale, VTS’ new AI investment delivers significant value for property managers as well as landlords in managing their tenant strategies.

New York City has emerged as the leader in the ongoing office demand recovery, surpassing its pre-pandemic benchmark in the fourth quarter. The city experienced a remarkable 25.3 percent year-over-year growth, driven by robust demand from the tech and finance sectors, according to the quarterly VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements of office properties in core U.S. markets and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

Over the past twelve months, demand for office space surged in cities driven by the tech sector, indicating that tech employers are revisiting their office space needs and considering policies that could require employees to return to the office in some capacity, whether part-time or otherwise. This is a meaningful shift from a sector that once significantly lagged behind all other industries due to the prevalence of hybrid or fully remote work and, until recently, the broader acceptance of a total return to the office, according to the quarterly VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced a number of major landlords have recently selected VTS Activate as their tenant experience solution of choice, marking significant growth for VTS, and bringing the total number of users on VTS Activate to over 1.5 million people, across over 29,000 tenant companies, in 21 countries globally. Since its launch in May 2023, VTS Activate has been the market’s leading tenant and property experience technology solution, as well as the most adopted.

After more than a year of increasing new demand for office space nationally, VTS has declared a bottom to the market occurred in late-2022 and early-2023 - a determination that can only be made after a substantial period of stability and growth within the office market and supporting economic factors, according to the quarterly VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced the launch of VTS Activate Workplace, which builds upon the proptech leader’s existing history in tenant experience technology. VTS Activate Workplace is the newest offering under VTS Activate and is tailored specifically for companies to create personal, exceptional end-to-end experiences in and across their offices to activate every employee, team, and workplace.

Nationally, demand for office space recorded its ninth straight month of positive year-over-year growth, just as work-from-home rates hit their lowest levels since the onset of the pandemic. Up 18.2 percent in Q1 and 12.1 percent from February to March, the national VODI now sits at 65 percent of its average 2018-2019 level, according to the quarterly VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced that it has launched a revolutionary new resident experience technology offering, VTS Activate Multifamily. The announcement builds upon the proptech leader’s momentum with the launch in May 2023 of VTS Activate – the industry’s leading tenant experience solution for commercial real estate, and comes after the 2021 acquisition of Rise Buildings – an established name in the multifamily resident technology space. VTS Activate Multifamily marks a pivotal moment in VTS’ corporate journey, as the proptech leader, known mainly for its innovation in commercial real estate, makes a significant investment in the multifamily space through this new resident experience technology offering.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today released the findings from its fifth annual VTS Global Landlord Report, which identifies the strategies and methods being leveraged by landlords to drive retention, accelerate technology use, and build a resilient portfolio. The report is a result of a survey commissioned by VTS from an independent market research firm surveying today’s landlords from across the globe on their priorities and challenges in 2024.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced the launch of their latest software package, VTS 4 – powered by the newly developed VTS Demand Model. VTS 4 transforms industry intelligence for commercial real estate landlords to understand the market better than their competitors and predict tenant demand through enhanced data and AI-generated insights.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced that its annual conference, Accelerate, will return for its sixth year, to be held in-person May 9th at Chelsea Industrial, located in Manhattan. The premier conference will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends, and ideas that define modern real estate, as well as methods and tactics to best leverage intelligence to achieve success in today’s market.

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today released the findings from its first Global Workplace Report, which leverages data to pinpoint corporate tenant needs and expectations related to office space. The report is the result of a survey commissioned by VTS from an independent market research firm, reaching hundreds of business leaders from companies across the globe on their workplace strategy and sentiment heading into 2024.

Nationally, demand for office space rose in December on a year-over-year basis, marking the sixth consecutive month of annual growth and giving new life to the office market. This trend reversal follows 15 consecutive months of monthly annual declines in demand for office space, according to the quarterly VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

After two years of demand for office space oscillating between half and two-thirds of what it was before the pandemic, it appears office demand is showing signs of stability around these levels for the foreseeable future. This determination is supported by persistently prevalent work-from-home rates and a cooling job market that directly impact the need for office space, according to the quarterly VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate industry’s only technology platform that unifies owners, operators, brokers, and tenants to capitalize on opportunities revealed in every square foot of their properties, today announced that it has promoted Sachin Shah as the company’s new Chief Customer Officer. This is the first time VTS has appointed a CCO as part of the executive leadership team, underscoring VTS’ commitment to client centricity and value. The announcement comes as VTS has made a number of recent major investments, including the launch of VTS Activate in May, the company’s new tenant experience platform which has already emerged as the leading solution for the industry.

Despite consistent news around employer’s return-to-office efforts, often met with employee resistance, data suggests that employers are no more active in finding office space than they were nearly 18 months ago, according to the quarterly VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate industry’s only technology platform that unifies owners, operators, brokers, and tenants to capitalize on opportunities revealed in every square foot of their properties, today announced that it has expanded its partnership with MRI Software, a global leader in real estate solutions. This key partnership enables a two-way integration between VTS Lease and MRI Commercial Management to provide a 360-degree flow of portfolio and financial data between both solutions. Customers of VTS and MRI will be able to gain unmatched visibility through a streamlined, continuous flow of insights.

VTS, the commercial real estate industry’s only technology platform that unifies owners, operators, brokers, and tenants to capitalize on opportunities revealed in every square foot of their properties, today announced that it has launched a revolutionary new tenant experience technology offering, VTS Activate, which builds upon the proptech leader’s existing history in the TenEx space. VTS Activate goes beyond the strengths of both VTS Rise and Lane to deliver owners and operators with the unparalleled technology and insights – not just within a building, but across an entire portfolio, creating the ultimate experience for tenants and delivering value like never before.

Office demand emerged from the slower winter months with an exceptionally strong start to the busier spring season. According to the latest VTS Office Demand Index (VODI), national demand for office space rose 31.3 percent from February to March, exceeding the month-over-month March growth recorded in pre-pandemic 2018 and 2019. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate (CRE) industry’s leading technology platform transforming how strategic decisions are made and executed across the asset lifecycle, today announced that its annual conference, Accelerate, will return for its fifth year, to be held in-person May 10-11 at Center415, located in Midtown Manhattan. The premier conference will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends, and ideas that define modern commercial real estate, as well as methods and tactics to navigate the current economic climate. Attendees will hear first-hand the latest product updates from VTS on the VTS Platform – commercial real estate’s leading tech stack.

New demand for office space began to come out of its seasonal winter slump in February, albeit more mildly than in years past. February typically marks the first month of the spring upswing in new office demand. This year, demand for new office space rose 4.3 percent from January, the slowest pre-pandemic pace in February on record according to the latest VTS Office Demand Index (VODI) analysis. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate (CRE) industry’s leading technology platform transforming how strategic decisions are made and executed across the asset lifecycle, today released the findings from its fourth annual 2023 VTS Global Landlord Report, which identifies new strategies utilized by landlords to retain tenants and weather the current economic climate. The report is the result of a survey commissioned by VTS from an independent market research firm, surveying today’s landlords from across the globe on their priorities and challenges going into 2023.

The winter months are typically a slow, stable time of year for the office leasing market, and 2023 kicked-off maintaining its seasonal track. According to the latest VTS Office Demand Index (VODI) analysis, new demand for office space in January was flat month-over month, maintaining a VODI level of 46. This is in line with previous January reports. Office demand tends to exhibit an uptick in the months of spring, and we anticipate this year will be similar to past ones in this respect. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

Economic uncertainty loomed large in 2022, weakening tenants’ resolve and cooling the office market. According to the latest VTS Office Demand Index (VODI) analysis, new demand for office space ended the year 31.3 percent below its May 2022 peak, and fell 20.7 percent year-over-year to a VODI of 46 in December. A VODI of 46 indicates that new demand for office space was flowing in at 46 percent of its average in 2018-2019, a benchmark of the pre-pandemic normal. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate industry’s leading technology platform that transforms how strategic decisions are made and executed across the asset lifecycle, today announced the expansion of its Executive Team with the appointment of Swaroopa Penikelapati as the company’s new Chief Technology Officer. In her new role, Penikelapati will lead the entire engineering and IT teams – driving innovation and continuing VTS’ work in providing best-in-class technology solutions for customers.

While shifting hybrid work patterns, rising interest rates, and overarching economic uncertainty continue to cloud the future of office use, new demand for office space regained some momentum in October. According to the latest VTS Office Demand Index (VODI) analysis, new demand for office space rose for the second consecutive month, up 8.3 percent from a VODI of 48 in September to 52 in October. The cumulative 6-point increase from September and October has fully reversed the VODI’s August decline and brings the VODI back to its July 2022 level. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

New demand for office space increased slightly in September after three consecutive months of losses according to the latest VTS Office Demand Index (VODI) analysis. The national VODI grew by two VODI points, from 46 in August to 48 in September. A VODI of 50 or below indicates the flow of new tenants seeking office space is running at less than half of its pre-pandemic pace in 2018 and 2019. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

As summer came to a close, new demand for office space fell for the third consecutive month in August, sinking below half of its average pre-pandemic pace, according to the latest VTS Office Demand Index (VODI) analysis. The national VODI fell by 6 VODI points, or 11.5 percent, from 52 in July to 46 in August, its lowest level since February 2021. A VODI of 50 or below indicates the flow of new tenants seeking office space is running at less than half of its pre-pandemic pace in 2018 and 2019. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate industry’s leading technology platform that transforms how strategic decisions are made and executed across the asset lifecycle, today announced a Series E funding round totaling over $125 million. The funding round is led by existing VTS customer and investor CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm, which is providing $100 million of capital and will join VTS’ Board of Directors. Other investors include BentallGreenOak, AmTrust, Brookfield Ventures, and Insight Venture Partners, among others.

Against a backdrop of economic uncertainty, persistent inflation and rising interest rates, new demand for office space fell in July to just over half of its pre-pandemic pace, according to the latest VTS Office Demand Index (VODI) analysis. Chicago, Boston and New York City recorded the largest VODI declines in July. A key factor these cities have in common is a relatively large share of office-using employment in finance, insurance, and real estate (FIRE) - a sector that is particularly sensitive to the interest rate movements we’ve seen as of late. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

Demand for office space in many major cities was volatile in June, according to the latest VTS Office Demand Index (VODI) analysis. More than half of the office markets analyzed experienced demand shifts between 13 and 23 percent. Of the markets that experienced a volatile month – New York City, San Francisco, Boston, and Seattle – only San Francisco saw growth though it may be short-lived. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

New demand for office space continued to plateau in May, maintaining gains made in March. This is the eighth consecutive month where demand for office space remained between half and two-thirds of the pre-pandemic normal rate of demand, according to the VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

Demand for office space fell just 1.5 percent nationally from March to April, a departure from the seasonal norm that typically calls for increasing demand during the month of April. Demand for office space now sits at two-thirds of normal, according to the VTS Office Demand Index (VODI). The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate industry’s leading technology platform that transforms how strategic decisions are made and executed across the asset lifecycle — today announced it has recognized a number of its top customers with exclusive awards celebrating exceptional use of the VTS Platform in ways that are transforming day-to-day business operations.

New demand for office space surged in March, up 20 percent from February and 8.2 percent year-over-year. This comes after five months of stagnation in the VTS Office Demand Index (VODI) due to compounding COVID-19 variants and remote work. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

Demand for office space closed out the second year of the COVID-19 pandemic down 47.1 percent from February 2020, the last month prior to the declaration of the pandemic. This is despite favorable fits and starts that once had the VTS Office Demand Index (VODI) at 87 percent of normal in Summer 2021 after bottoming out in June 2020 at 16 percent of normal. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate (CRE) industry's leading technology platform, today announced that following a hiatus in 2020 and 2021 due to the COVID-19 pandemic, its annual conference, Accelerate, will return in 2022 for its fourth year, to be held in-person May 3-4 at Convene at Brookfield Place, located in Lower Manhattan. The premier conference will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends, and ideas that define modern commercial real estate in what will be a “new normal.”

New demand for office space in January was unchanged from December, remaining at 58 percent of its pre-pandemic level but up 75.8 percent year-over-year. This marks the fourth straight month of relative stability in the VTS Office Demand Index (VODI) since peaking in summer, and falling in the second half of 2021. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity as well as the only commercial real estate index to explicitly track new tenant demand.

New employer demand for office space receded again in December and is now just 58 percent of normal, pre-pandemic. Since peaking in August at 87 percent of normal, the VTS Office Demand Index (VODI) has fallen for four of the past five months, including five percent in December. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity, as well as the only commercial real estate index to explicitly track new tenant demand.

New demand for office space fell for the second consecutive month in October to its lowest rate since the first quarter of 2021 suggesting that the initial post-vaccine surge of demand for office space has run its course. Down 30 percent nationally since peaking August 2021, all seven markets analyzed by the VTS Office Demand Index (VODI) saw declining demand for office space over the two month period. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity, as well as the only commercial real estate index to explicitly track new tenant demand.

After a prolonged 9-month surge in demand for office space in 2021 which defied typical seasonal patterns, new demand receded significantly in September. Down 17 percent from August to September, the seven-city VTS Office Demand Index (VODI) is now 28 percent lower than it was, on average, in the years leading up to the pandemic. The VODI tracks unique new tenant tour requirements, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leasing activity, as well as the only commercial real estate index to explicitly track new tenant demand.

VTS, the commercial real estate industry’s (CRE) leading leasing, marketing, asset management, and tenant experience platform, today announced it has entered into an agreement to acquire Lane, the workplace experience platform used by several top landlords including Brookfield, Oxford, and Hines. With the acquisition, VTS has now invested hundreds of millions of dollars in tenant experience, more than all other proptech companies combined. The acquisition will strengthen VTS’ existing market-leading tenant experience solution, VTS Rise, enabling both Rise and Lane customers to benefit seamlessly from the combined technology. In addition, VTS will add new tenant engagement capabilities to VTS Rise including Lane Perks which provides building occupants with access to a private network of thousands of promotions, events, products, and services. The acquisition is the next step in VTS’ continuing effort to ensure global landlords have the best-in-class technology they need to operate as efficiently as possible and create the best environment for tenants during the COVID-19 pandemic as they begin to return to the office.

VTS—the commercial real estate industry’s (CRE) leading leasing, marketing, asset management, and tenant experience platform, today announced that Margaretta Noonan has been appointed as the company’s new Chief People Officer. The announcement comes at a time when VTS has made major capital investments in its workforce during the pandemic, and as the company continues to grow rapidly at scale, with its most successful year to-date.

Nationally, new demand for office space rose to a 15-month high in August and is now just 13 percent below pre-COVID-19 levels. New demand for office space is up 235 percent year-over-year, reflecting a strong recovery from last summer, according to the VTS Office Demand Index (VODI). The VODI tracks unique tenant tours, both in-person and virtual, of office properties in core U.S. markets, and is the earliest available indicator of upcoming office leases, as well as the only commercial real estate index to explicitly track new tenant demand.

After six consecutive months of growth in new demand for office space, demand eased in July as concerns over a surge in delta variant COVID-19 cases, as well as normal seasonal headwinds, took hold. Despite this, the monthly decline is lower than the typical July pre-pandemic seasonality in both 2018 and 2019. Nationally, the VTS Office Demand Index (VODI) is now 16 percent below its 2018-2019 average, which is used as the ‘100’ point in the Index. The VODI tracks unique tenant tours, both in-person and virtual, of office properties across the nation, and is the earliest available indicator of upcoming office leases, as well as the only commercial real estate index to explicitly track new tenant demand.

As we move further from the depths of the pandemic, it has become apparent the cities seeing a faster downtown office market recovery have two things in common: local employers that are more likely to require employees to come into the office and cities which have seen more growth in job postings than other cities tracked in the analysis, according to the VTS Office Demand Index (VODI) monthly report. The VODI tracks tenant tours, both in-person and virtual, of office properties across the nation, and is the earliest available indicator of upcoming office leases, as well as the only commercial real estate index to explicitly track tenant demand.

VTS, the commercial real estate industry’s leading leasing, marketing, and asset management technology platform, today announced that VTS Rise (formerly known as Rise Buildings) has become the most adopted tenant experience technology in proptech. As of July 1, 2021, over 300 million square feet in 161 cities and over 500 buildings worldwide are managed on VTS Rise.

While COVID-19 cases are no longer an inhibitor of demand for office space, the pandemic has fundamentally changed the way we work, and the effects are being felt in the office leasing market. Markets with a greater percentage of remote-friendly jobs are recovering more slowly while the opposite is true for markets with fewer remote-friendly jobs.

While the momentum in demand growth for office space slowed slightly in the past month, April marked the fourth consecutive month when demand for office space nationally continued to recover, getting closer to the pre-pandemic benchmark, according to the VTS Office Demand Index (VODI). The VODI tracks tenant tours, both in-person and virtual, of office properties across the nation, and is the earliest available indicator of upcoming office leases, as well as the only commercial real estate index to explicitly track tenant demand.

National demand for office space surged in March 2021, up 28 percent from February and 161 percent in Q1 2021, and is now just 9 percent from pre-pandemic levels. The rapid rise in demand signals that a return to the workplace across the country is imminent and employees should be prepared to be called back to the office soon, according to the VTS Office Demand Index (VODI). The VODI tracks tenant tours, both in-person and virtual, of office properties across the nation, and is the earliest available indicator of upcoming office leases, as well as the only commercial real estate index to explicitly track tenant demand.