The “Under-Demanded” Office Market by John McNellis • Aug 6, 2022 • 120 Comments “There’s almost no liquidity in the office market. No one knows where pricing will be when one of these towers finally sells.”
Big Tech & Startups Getting Ready for Reality: Shedding People, Offices, and Warehouses by Wolf Richter • Jul 27, 2022 • 126 Comments It’s kind of sobering. Reality has that effect, after a drunken binge.
Vacant New Condo Tower in San Francisco: Tentacles of China’s Collapsing Property Developers Reach Deep into US Cities by Wolf Richter • Jul 25, 2022 • 174 Comments 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.
Riding Out the Recession in Commercial Real Estate: Time to Hold? by John McNellis • Jul 3, 2022 • 198 Comments Our property with a Walmart store has arguably declined 25% in value in the last six months. But cash-flow hasn’t changed.
Commercial Real Estate’s Early Autumn: We Now See Price Cuts, Blown Deals, Widening Bid-Ask Spreads by John McNellis • Jun 18, 2022 • 151 Comments We listed a 40-unit apartment building in the East Bay, a couple months too late, and a shopping center in Silicon Valley. Here’s what happened.
Time to Put Down the Shovel? So Far this Year, We’ve Dropped Three Projects due to Breathtaking Construction Cost Estimates by John McNellis • May 28, 2022 • 117 Comments His number came in 100% more than the cost of our last store, and the deal no longer penciled out.
My List of 23 Major US Office Markets, by Vacancy Rates Ranging from Abysmal to Just Terrible by Wolf Richter • May 16, 2022 • 111 Comments Commercial Real Estate hit by construction boom, oil bust, pandemic, working from home, now hiring freezes and layoffs. Older office towers dish out huge losses.
Retail Vacancy on Chicago’s Magnificent Mile More Than Doubles from Pre-Pandemic Levels by Wolf Richter • Mar 24, 2022 • 92 Comments Among the tenants that decided not to re-open their stores along the Mag Mile were Macy’s, Uniqlo, and the Gap.
Another Office Tower Goes Bust: Blackstone Walks from Manhattan Tower it Bought for $605 Million. CMBS Holders to Eat Remaining Losses by Wolf Richter • Mar 22, 2022 • 150 Comments Older office towers are besieged. Working-from-home and hybrid-work aren’t helping. The losses are huge.
Next Shoe Drops on Office Markets: State & Local Governments Dump Office Space amid Working-from-Home/Hybrid Model by Wolf Richter • Mar 20, 2022 • 161 Comments Office vacancy rates are already huge, foreclosures of office towers are piling up, and office attendance is still very low, everywhere.
