The State of American Restaurants, by City, November Update by Wolf Richter • Nov 2, 2020 • 178 Comments “Seated diners” get scarcer again as new Covid cases surge.
High Times in the Plague Year: Booze & Cannabis Retailers Shine by John McNellis • Oct 31, 2020 • 98 Comments Landlords already know this: People are getting more toasted than Wonder Bread.
Jingle Mail Haunts Commercial Mortgage-Backed Securities as Property Values Get Slashed Below Loan Amounts by Wolf Richter • Oct 26, 2020 • 125 Comments At the time of securitization into CMBS a few years ago, inflated collateral values led to soothingly low loan-to-value ratios. Then trouble hit.
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.
