GlobeSt.com, Feb. 28, 2023–Holly Johnson AmayaThe Fed’s recent string of rate hikes have led to tough times for commercial real estate investors, even for the relatively stable net lease sector.https://www.globest.com/2023/02/23/net-lease-will-likely-rebound-faster-from-economic-slump/?
Category: Top National News
Multifamily Conversions Are Penciling Despite Challenges
GlobeSt.com, Feb. 23, 2023–Lynn PollackOffice to multifamily conversions have become a mainstream development option and even a specialized niche sector.https://www.globest.com/2023/02/23/multifamily-conversions-are-penciling-despite-challenges/?
How Hybrid Work Is Changing Offices of the Future
Wall Street Journal, Feb. 22, 2023–Ray A. Smith (subscription)Leading architects and real-estate developers are pioneering concepts aimed at workers who are splitting their time between home and office, and they …
Eastdil Secured To Trim 7% Of Workforce As Transactions Dry Up
Bisnow, Feb. 21, 2023–Jarred SchenkeNew York-based Eastdil plans to trim roughly 7% of its global workforce of more than 500 people, The Real Deal reports. The cuts are spread across …
Office Landlord Debt Defaults Rising as Remote Work Takes Hold: Report
New York Post, Feb. 21, 2023–Thomas BarrabiA growing number of office landlords are defaulting on loan payments as the rise of remote work causes more corporate tenants to rethink long-term …
CREW Up: Working Together Toward Pay Equity in CRE
Commercial Property Executive, Feb. 22, 2023–Laura CalugarWhile younger generations are more inclined to ask for what they think they deserve than older generations—which expect their superiors to notice they’re working …
How Remote Work is Changing the Office Space Market
NPR/WBUR, Feb. 21, 2023–Roben FarzadMore companies that manage large amounts of office space are defaulting on their loans. Some experts think that remote work has permanently changed the market for …
How West Palm Beach Was Transformed Into ‘Wall Street South’
New York Post, Feb. 17, 2023–Beth LandmanOnce considered to have down-market and dangerous areas, West Palm is now earning the nickname “Wall Street South.”https://nypost.com/2023/02/17/west-palm-beach-has-become-wall-street-south/?
Office Landlord Defaults Are Escalating as Lenders Brace for More Distress
Wall Street Journal, Feb. 21, 2023–Peter Grant (subscription)The delinquency rate for office loans that back commercial-mortgage-backed securities remains low, but it is heading higherhttps://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0
More Sellers Become Open to Off-Market Deals as CRE Market Faces Liquidity Crunch
Wealth Management Real Estate, Feb. 21, 2023–Patricia KirkAs sellers become more concerned about marketing a property that fails to sell, it has opened up more opportunities for investors looking for …