Contributed by Edward Graham, Professor of Finance and Real Estate, Cameron School, UNCW

 

About one year ago, remarks were shared by this author concerning the expected impacts on commercial real estate of the COVID “pandemic.” Mass exits from such places as New York City and San Francisco were being observed, with some of the wealthier residents evacuating to Long Island and Westchester County outside New York, and across the nation for the digitally- and zoom-connected denizens of many cities. There was an expectation last year that commercial real estate occupancies would decline and values would be adversely impacted in such “vertically dense” communities as New York and Chicago. Commercial occupancies did decline in many of the larger and even mid-size cities, with subsequent drops in lease rates and property values, but the industrial and residential real estate markets have been, much as was expected in the…

Read more…

Share.

Comments are closed.