... [+]There’s no doubt been a change in the way people work post-Covid, and many firms are embracing hybrid schedules. In certain sectors, this shift from remote to in-person has stirred demand for work areas. As WeWork’s Chief Revenue Officer Ben Samuels mentioned in aTaking a closer look at these fluctuations, we can identify several factors that are impacting the return to office trends.
. Let’s review each of these as we consider how some office markets have performed better than others.In Manhattan, in-person office visits at the end of 2022 were 90.9% of their 2019 levels for biotech, life sciences, pharma and healthcare sectors, per Avison Young’s. Other industries had strong turnouts as well, with the media reaching an in-person rate of 71.6% compared to pre-pandemic levels, and banking and finance hitting 60.2%.
That figure has continued to climb in recent months. Visitation rates for all building classes and markets in Manhattan averaged 61% in Quarter 1 2023 compared to pre-pandemic 2019 baseline levels, according to the