Denver's office foot traffic is improving — slightly
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Denver's office foot traffic recovery is slightly better than the U.S. average, though workplace recovery has stalled in recent months as the pandemic continues to upend where and how people work.
Driving the news: The Mile High City fared well in its recovery rate for office visits over the past three years, with the second-smallest decline in office visits among 10 cities studied by Placer.ai, a startup that tracks and analyzes foot traffic.
- The report found office occupancy is about 60% nationwide.
Yes, but: Overall, the number of people in and out of offices in Denver this November was down 36% compared to 2019.
- Similarly sized metros saw bigger declines during the same span, including Boston (40%), Atlanta (43%) and San Francisco (58%) which ranked last. New York City's rate was the smallest at 32%.
What we're reading: "The increase in occasional office dwellers will not necessarily have a significant impact on overall office occupancy rates," the report says.
- Office visits were high in summer months before decreasing dramatically in the fall.
Zoom in: A recent analysis from a locally based commercial real estate agency JLL said 27% of Central Business District office spaces are vacant, up slightly from the previous quarter's report.