By ERIN FLYNN JAY It has been five years since the COVID-19 pandemic shutdowns began, and the commercial real estate sector remains forever changed. On March 11, 2020, the World Health Organization determined COVID-19’s outbreak had reached the level of a pandemic. On March 13, the first Trump administration declared a nationwide emergency and states…
By SCOTT KIMBLER After years of anxiety about the direction commercial real estate will take, economists say things are looking up for this sector of the market heading into the new year. “By all generally accepted metrics, the economy is actually doing pretty good,” said Prof. Tom Smith of Emory University Goizueta Business School. “Unemployment…
By ERIN FLYNN JAY The author of a new book says commercial real estate owners need to be forward-thinking if they are going to remain relevant. Joe Brady is the former head of real estate for Walgreens and served as CEO of Americas at The Instant Group, a global leader in agile and flexible workspace, development,…
By KIMBERLEY HAAS Remote work is being blamed for empty downtowns and looming bank failures but commercial real estate experts say the reality is employers are looking to lease the highest quality office spaces – leaving less desirable locations vacant – because that is what employees want. In March, Federal Reserve Chair Jerome Powell said…
By ERIN FLYNN JAY and KIMBERLEY HAAS As business models continue to change in the post-Covid economy, some market experts are predicting a commercial real estate crash while others are saying there could be a revival in investment opportunities. Desmond Lachman, an American Enterprise Institute senior fellow, recently wrote that high vacancy rates have already…
By CHUCK GREEN Does anyone need some elbow room? When COVID appeared to seize control over, well, nearly everything, there seemed to be ample space in offices – including those related to the mortgage industry – across the country. Desks? It was almost as though some hadn’t been occupied in decades. That scenario is gradually changing….
By KIMBERLEY HAAS As the commercial real estate market continues to change, office space is down, but not out, according to an economist who says a majority of companies are still committed to having a place where the “secret sauce” of their business is created. Richard Barkham, global chief economist for CBRE in Dallas, said…
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