By Charlie Tanner, Director of Real Estate & Development, Firmspace The COVID-19 pandemic has proven that many companies can operate successfully while working remotely. This out-of-office trend has spurred many discussions about whether coworking spaces, a relatively new concept in commercial real estate, may already be a thing of the past. However, these workspaces represent an important part of doing business and developing relationships with colleagues and clients, particularly in the …
By Nazir Khalfe, Principal, Powers Brown Architecture Having designed multiple millions of square feet of speculative and build-to-suit industrial buildings in my career, I’ve witnessed some striking trends over the past two decades, especially with the advancements made in tilt-wall construction. The ability to go higher and store and ship more product with today’s technology is creating an ever-changing landscape for industrial product. We have witnessed the boom of e-commerce, …
WASHINGTON, D.C. — In its midyear multifamily outlook report, Freddie Mac predicts U.S. multifamily loan originations will drop severely for all of 2020 due to the outbreak of COVID-19 and the big blow the virus has dealt the U.S. economy. The gross domestic product from April to June plunged 32.9 percent on an annualized basis, according to the U.S. Commerce Department.The government-sponsored enterprise (GSE) is projecting that loan volume will decrease 20 to 41 percent across the …
Lenders and investors may be a little wary when approaching deals under the shadow of COVID-19, but opportunities to employ capital strategically when market prices are low can make for long-term opportunities. Many in commercial real estate hope to lay significant groundwork, strengthening their economic trajectories whenever the market recovery begins.Keith Kurland, senior managing director at Walker & Dunlop, serves as co-head of the company’s New York Capital Markets practice and …
BETHESDA, MD. — Several industry professionals are predicting that a second stimulus bill will be a $1.75 trillion package approved by Aug. 15.The comments came on a “Walker Webcast” webinar, entitled “All Eyes on Washington: What Will the Next Stimulus Bill Do for CRE?” that took place on Wednesday, July 29. Commercial real estate finance firm Walker & Dunlop hosts the webinar series.Willy Walker, chairman and CEO of Bethesda, Md.-based Walker & Dunlop, spoke with Bob …
Five months into the pandemic, fissures are beginning to form in the foundation of the multifamily market. Through the spring leasing season, liquidity from enhanced unemployment insurance benefits and a yearning for stability in uncertain times were enough to maintain occupancy near pre-coronavirus levels and to provide something of a buttress for rents. As spring turned to summer, however, winds seemed to change direction, tenant patience began to fray and property performance waned.West …
By Darlene Sullivan, Popp Hutcheson PLLCAs if a global economic contraction and an unfolding recession across the United States were not enough, many commercial real estate owners across Texas have seen their taxable property values increase this year. While many of these owners are calling for property tax relief to offset the financial burden they are suffering due to stay-at-home orders and business closures triggered by the COVID-19 pandemic, they may be unsure of potential remedies to …
Last week, Shopping Center Business and Southeast Real Estate Business hosted "South Florida Retail Outlook: What is the Impact of COVID-19 on South Florida’s Retail Sector?" Listen as a panel of retail experts discusses their gameplans: working with tenants and their employees as the industry seeks to adapt. Hear about attitudes towards loans, rent reductions, property value, next steps and more.See a list of some topics covered and their timestamps below: (07:00): How are …
The outbreak of COVID-19 has had an outsized impact on South Florida. According to Johns Hopkins University School of Medicine, the region’s three primary counties rank in the top 20 of confirmed COVID-19 cases as of Wednesday, July 22. At 92,345 cases, Miami-Dade County is No. 4 on the list. Broward County comes in at No. 9 with 43,747 cases, and Palm Beach County is No. 20 with 27,506 cases.The surge in cases has had a pronounced effect on the area’s retailers as citizens have resumed …
NEW YORK CITY — The industrial sector has emerged as the strongest commercial real estate sector during the COVID-19 pandemic, according to a June LightBox report that updated information from the annual RCM/Lightbox — SIOR report. The surge in consumers buying goods and groceries online has fueled the demand nationwide.“Clearly, no commercial real estate asset class is immune to the immediate and long-term impact of COVID-19, a black swan event unlike anything anyone has …
