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The commercial real estate market has continued to recover on all fronts on the back of the sustained recovery in the job market, increased consumer spending, and workers trickling back to the office. However, the course of the pandemic, including the emergence of the deadlier Omicron variant, will continue to greatly determine the pace of the commercial real estate market's recovery and of major metro areas (e.g. New York, San Francisco, Chicago, Los Angeles, Washington DC, and Boston) that are still grappling with huge declines in office occupancy.
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