The city’s building inspector confided, “I don’t know why anyone would ever pull a permit for an apartment remodel; the cities make it so difficult.”
Landlords failed to disclose how much they had to fork over to office tenants to get even these reduced rents. Since we have holdings on the Peninsula, we know the real numbers first-hand.
Some Green Shoots, but Finding them Is Tricky.
The fact that smartphones are perfect surveillance devices has been kicked around for a long time. And the data are immensely useful in B2B.
Landlords already know this: People are getting more toasted than Wonder Bread.
New York City, San Francisco Bay Area are the big losers. The great 2020 exodus raises the question: Will the techies ever return?
Every city is confronted with dying malls and vacancy-pocked shopping districts. Is there a cure? No. The failing retailers were already on their way to the morgue. Is there a vaccine that will help? Yes.
We’ve lost half-dozen retailers — restaurants, clothing, massage… Tenants who in effect said, sue me, I’m taking a hike. And replacement shop tenants are just behind spotted owls on the endangered species list.
I asked top executives from three tech companies—with a hundred employees, with a thousand, and with many thousands—where they would put their next offices.
The elevator in a pandemic, and the accidental discovery that many businesses are 90% efficient with employees working from home.