Increased demands for suburban office buildings will impact pricing. Larger spaces means easier social distancing. These spaces are typically in shorter buildings than NYC’s skyscrapers, potentially leading to less elevator use. Driving means no (or less)...
Amazon is one of the pioneers in bringing employees back to NYC after acquiring Manhattan’s iconic Lord & Taylor building. 2,000 employees are set to be working from the site – officially in 2023 when they begin moving into the space. Creating 2,000...
70-90% of tenants are still paying their rent. As a result landlords are having negative cash flows. It is now a tenant favoring market. Landlords and banks will be impaired as this continues. Rents will likely go down as demands go down. Vacancies are likely to...
It is crucial to know what to focus on revolving around cleaning. HVAC systems are important. One of the biggest complaints for tenants is bad air conditioning. Air conditioning can be critical to slow down the spread of viruses. Are your systems being filtered in...
What do major REIT’s stock prices dropping mean for your lease? Commercial space value is likely dropping as companies reprioritize their working arrangements. This is seen in the drop in stock value of many REITs, and not necessarily your building value just...
