What? Old-school offices work better than WeWork playpens? Reinstalling private offices in the growing legions of ghost buildings may be worth a try.
“Expect more distress from some owners as loan defaults and relinquishing of assets could increase going forward.”
Office construction wobbles along at much lower levels, amid a glut of vacant offices.
The giant’s footprint reduction to cut costs sinks Commercial Real Estate.
Last time it tried to sell the building was in 2019. Now the office market is an entirely different ballgame.
Starts: Single-family houses: -18.8% year-over-year; larger multifamily buildings: +15.9%. Here are the long-term trends.
“There’s almost no liquidity in the office market. No one knows where pricing will be when one of these towers finally sells.”
It’s kind of sobering. Reality has that effect, after a drunken binge.
As the condo market is going south on you, you can always try to sell the tower to an investor to convert to rental apartments. But that’s tough too.
Our property with a Walmart store has arguably declined 25% in value in the last six months. But cash-flow hasn’t changed.