The amount of available sublet office space nationwide is growing as tenants downsize their office footprints. This is happening as a result of expanded remote working policies, certain industries being devastated by COVID-19 and companies abandoning ambitious growth plans as the economy worsens.
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Snowballing distress in commercial real estate loans are threatening to become an avalanche that could overwhelm banks.
Getting a glimpse behind the curtain on how bank loans are performing isn’t easy. “It’s amazing that we have gone from the great financial crisis to now and still have no better transparency into the banks at a granular level as we do with CMBS,” says K.C. Conway, director of research and corporate engagement at the University of Alabama’s Alabama Center for Real Estate (ACRE) and chief economist for the CCIM Institute. Some banks are more transparent than others and there is definitely a lag in the data, he says.
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(Bloomberg)—Eldorado Resorts Inc. completed its $17 billion acquisition of Caesars Entertainment Corp., navigating a series of hurdles, including the global pandemic, to create a new powerhouse in the casino industry.
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For weeks, companies have been gradually and carefully reopening their offices in a world still combating a pandemic. But efforts to bring workers back are getting more complicated as public school systems across the country prepare to start the school year with varying degrees of online and in-person learning.
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It’s summer, and the entertainment-loving public has few options. Stay-at-home orders have led to a myriad of closures and cancellations, and reopening phases in some states have been halted or reversed in recent days, as coronavirus cases continue to climb.
Enter the drive-in theater, an unexpected winner in the pandemic fallout. Often overlooked in the era of massive chains like AMC and Regal Cinemas, drive-in theaters are experiencing a boom in popularity as people seek safe ways to have fun outside of their own homes.
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Moveable Walls, But Same Size Floor Plates: How Office Projects Are Changing in Response to COVID-19
Since the onset of the COVID-19 pandemic in March, workplace safety concerns and reduced demand for office space have resulted in delay, postponement or cancelation of office projects in all U.S. markets.
It is too soon to determine how the pandemic will impact the office sector long-term, but for projects still moving forward and under consideration, developers must weigh which design changes might become permanent and which ones will disappear along with the virus.
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