The next economic crisis: Empty retail space

[MULTIZ321]

The next economic crisis: Empty retail space

The next economic crisis: Empty retail space

As tenants stop paying and shrink their offices, commercial real estate is cratering.

www.politico.com

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Richard

 

[bogey21]

It makes sense to me that many companies will cut back on their rental of Office Space and allow a sizable number of employee to work from home. I see this most likely in areas where Office Space is atronomically high like NYC...

George

 

[am1]

Been an issue for awhile now but more retail space keeps getting built.

 

[Glynda]

Since COVID and the riots in downtown Charleston, quite a few retail businesses and restaurants have closed and have not re-opened. Some are going out of business but quite a few actually have another location across one river or another and are just consolidating there. Two hotels have been closed since late March and are using the time to remodel and will re-open later. Unfortunately, they just keep covering the earth with more concrete and new hotel, apartment and retail buildings till CHS is almost unrecognizable!

 

[pedro47]

How many strip shopping malls, Sears, J C Penny's, T J Maxx's, Burlington's, Belk, Dillard's, Vitamin stores, drug stores, and restaurants have been forced to closed in the last twelve (12) months.

 

[Brett]

real estate stocks (REIT) have taken a hit during the pandemic (after a big run up), but I'm not sure that retail space vacancies will create an economic crisis

 

[Ralph Sir Edward]

Makes me think of 2008. Only this time is isn't driven by a bubble, but by a "black swan" event. The results may end up the same, economically. . .

 

[Bucky]

There will be many more projects like this before all is said and done. https://carolinayards.com/

 

[Brett]

There will be many more projects like this before all is said and done. https://carolinayards.com/

former shopping malls repurposed as "technology hubs"