An examination of workers in the office and remote workers and an analysis of food delivery service and revenues indicate that the demand for commercial real estate is moving toward new norms.
While COVID-19 has wreaked havoc on the hotel, office, and retail property assets, it brought out the durability of the industrial property market and accelerated e-commerce and warehousing employment.
The commercial real estate sector continues to struggle as a result of the coronavirus pandemic. The hotel and retail property markets are the heaviest hit, while multi-family and industrial are performing relatively well, with the office sector in the middle of the pack.
Because of the coronavirus, dine-in closures and an increase in delivery growth, in essence, have converted every operational restaurant into a ghost kitchen.
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