How Fast Can a “Shortage” of Office Space Turn into a “Glut?” San Francisco Shows How Fast by Wolf Richter • Oct 25, 2020 • 104 Comments Commercial real estate is in turmoil, but San Francisco’s glut is dwarfed by the fiascos in Houston and Calgary.
Down-to-Earth View of the “Recovery” in Near-Real Time, Eight Months into the Pandemic by Wolf Richter • Oct 21, 2020 • 112 Comments As seen by indicators that have sprung up as a result of the Pandemic.
Synchrony Financial Disclosed Radical Work-from-Home Plan, Layoffs, and “Office Footprint” Reduction by Wolf Richter • Oct 20, 2020 • 168 Comments Landlords and their lenders who’re still thinking work-from-home is just a blip will undergo a reckoning in due time.
Highly Leveraged Commercial Real Estate Bets that UK Local Authorities Took to Meet Budget Shortfalls Begin to Unravel by Nick Corbishley • Oct 13, 2020 • 61 Comments With impeccable timing.
Two San Francisco Hiltons Add to Woes of Commercial Mortgage-Backed Securities. Special Servicing Rate of Hotel CMBS Spiked to 26% by Wolf Richter • Oct 12, 2020 • 84 Comments Four of the six hotels that REIT Park Hotels & Resorts owns in San Francisco are closed, with convention & business travel at near-zero.
Microsoft Offers Permanent Work-from-Home Option with Pay-Cuts if Employees Move to Cheaper Cities or Countries by Wolf Richter • Oct 9, 2020 • 205 Comments “Hybrid workplace,” it calls it. The trend for many companies with office workers and enough tech savvy to pull it off. A nightmare for landlords.
Commercial Real Estate Office Sector Crushed by Work-from-Home, Tsunami of Supply in Q3: Manhattan, San Francisco, Houston, Chicago, Los Angeles by Wolf Richter • Oct 3, 2020 • 80 Comments “Sublease Pandemic?” Office leasing activity plunged or collapsed, depending on city, even as huge amounts of sublease space that companies no longer need got dumped on the market.
Hong Kong’s Overleveraged Commercial Real Estate Tycoons Unravel, Prices Plunge, Creditors Begin to Take Over by Nick Corbishley • Sep 30, 2020 • 31 Comments Another 34% markdown. The haste with which creditors want to execute the sale adds to the gloom.
Commercial Real-Estate Fallout Even Douses the Queen of England by Nick Corbishley • Sep 26, 2020 • 54 Comments Office Workers Are Again Told to Work from Home, Retailers Don’t Pay Rents, UK Commercial Property Owners Sink Deeper into the Mire.
There Will Be Permanent Changes: Apple CEO Tim Cook Weighs in on Working from Home by Wolf Richter • Sep 22, 2020 • 158 Comments “Some things actually work really well virtually”; but “the vast majority of us can’t wait until we can be back in the office.”
