High Vacancy: The State of Office Space in the United States
05 Feb, 2024

In the height of the COVID-19 pandemic, businesses in just about every industry had to make some hard decisions on whether on personnel in their office spaces. This led to a greater decision where businesses switched operations from in-office to remote work, redefining what the work environment looked like for most of the pandemic.  

Now, office spaces throughout the country stand empty and unused. Recent data published by Moody’s Analytics shows that nearly 20% of office space in major cities in the United State were vacant by the fourth quarter of 2023, which is the highest percentage on record. Moody’s has been running surveys like this since 1979. There was a significant peak in the 80s and 90s after a long period of overbuilding office spaces took place, but even those percentages barely crept over the 19% mark.  

Many organizations are going back and forth over how to move forward with remote work options, a hybrid experience, or a mandated return to the office. UPS recently announced that it was eliminating the remote work option for its employees, requiring all corporate employees to return to the office five days a week starting in March. 

Are suppliers back in the office? 

Our question for suppliers is what does this look like for your organization? Do you have a designated office space still? Are your teams back in the office? Do you have a flexible, hybrid working environment?  

What about your IDN customers? Are you able to visit their office spaces for in-person meetings? How does this shape your calls with your customers? 

We want to hear from you! Send your responses to these questions to pmercer@sharemovingmedia.com