Office Visits Continue to Improve

Office visits continue to creep back to prepandemic levels, according to Placer.ai, which reported that nationally, visits in June were down only 29.4 percent compared to June 2019.

Looking at markets, Miami is closest to returning to 2019 figures as its visits were down by just 9.8 percent in June compared to June 2019. In New York City, visits were down 14.2 percent, driven by strict return-to-office policies on Wall Street.

Miami has the lowest visit gap compared to June 2019. Chart courtesy of Placer.ai

Boston and Atlanta saw the biggest increase in visits on a year-over-year basis for June, with visits jumping 10.3 percent in Boston June and 10 percent in Atlanta.

San Francisco continues to lag among the 11 key cities Placer.ai measures, with visits down 49.2 percent during June compared to June 2019. The San Francisco Federal Reserve president recently urged tech companies to tighten their in-office policies.

READ ALSO: Top 5 Boston Submarkets for Office Construction

Placer.ai tracks 1,000 office buildings across the country, including commercial office buildings and commercial office buildings with retail offerings on the first floor. Other markets it tracks nationally are Dallas, Washington D.C., Chicago, Denver, Los Angeles and Houston.

June 2024 office visits. Chart courtesy of Placer.ai

Houston’s visits were hampered in May and June due to tropical storms and generally inclement weather conditions. Things have not improved much in Houston for July as Hurricane Beryl came on land this week.

Kastle Systems also tracks office traffic via its entrance systems in leading markets. For each of the three weeks prior to the July Fourth week, occupancy in its top 10 markets ranged from 51.1 percent to 51.8 percent. From July 1 to July 5, it fell to 45.8 percent due to the holiday.

The post Office Visits Continue to Improve appeared first on Commercial Property Executive.