Commercial Property

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.

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.

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