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.
Rents for Single-Family Houses and Apartments Blow Out across the US: This Crazy-Hot Rent Inflation is a National Fiasco by Wolf Richter • Mar 15, 2022 • 229 Comments And it has nothing to do with supply chains. Dear Fed, go have a look at the fruits of your labor.
Brick-and-Mortar Pharmacies in the Cross Hairs by John McNellis • Mar 5, 2022 • 108 Comments If you have a building with drug store that’s only making money in its pharmacy, your years of collecting fat rent checks are likely numbered.
What are Vacant Office Towers Worth? Foreclosure Sales Show How Values of 1980s Office Towers in Houston Have Collapsed, Dishing out Huge Losses for CMBS by Wolf Richter • Feb 17, 2022 • 177 Comments The loans were securitized into CMBS in 2014. From hype to heck in 7 years. Other markets with office busts have something to stew over.
Status of the Office Glut in Houston, San Francisco, Manhattan, Los Angeles, Chicago, Washington DC, Seattle by Wolf Richter • Jan 3, 2022 • 64 Comments Companies adjust their office footprint to working from home.
Trying to Make Sense of Economic Madness: Wolf Richter on Construction Disruption by Wolf Richter • Dec 21, 2021 • 106 Comments Many office buildings may become irrelevant, many malls already have. What does the future hold for once-flourishing buildings? Housing is a pain point for many people. Now we face higher interest rates and high inflation.
CVS to Close 900 Stores, Convert Others from Retail to Services, as Ecommerce Competitors Gobble up Pharmacy Revenues by Wolf Richter • Nov 19, 2021 • 103 Comments Brick & Mortar Meltdown Continues.
How Can an 11-Year Old Company Lose $844 Million on $661 Million in Revenues? WeWork Shows How, Having Lost $13.3 Billion on $10.6 Billion in Revenues in Less Than 4 Years by Wolf Richter • Nov 15, 2021 • 153 Comments It just doesn’t let up with this outfit.
