Since March of 2020 when businesses and the economy have had to
shift due to COVID-19, commercial real estate has been in
Because of forced business closures and certain strict regulations that make it difficult to run a business, many small businesses have been unable to afford their lease payments. Some businesses have no choice but to shift to remote working, where employees are no longer coming into the expensive office the company rents, and are instead working from their homes. This leaves many offices empty while the business owner must make tough decisions about the space, whether to keep paying the rent and high overhead costs or ditch the office. Losing your office space is a big risk, but so is spending lots of money on an office that is not being used like it used to.
In apartment buildings big and small, residential tenants who have been out of work …