Cushman & Wakefield has formed a post-pandemic recovery task force to prepare employees, tenants & landlords to return to work. It will draw on its current experience in China where roughly 1M workers are returning to their buildings.
Despite the crash in oil prices, Dallas - Fort Worth is expected rebounded swiftly following the pandemic. CBRE states office use in the market is expected to fair better than retail & hospitality.
Meanwhile, CBRE executives are taking a collective 15% reduction in salary in response to Covid-19.
Post-pandemic tenants & landlords are likely to rethink lease-terms & deal structure.
Paul Ricci with CohnReznick doesn't see firms getting rid of office space but rather, changing the way they utilize it; accommodating a fluctuating group of employees.
The California Board of Realtors has announced that residential & CRE is officially deemed an essential service.
Developer 'The Related Companies' told CNBC they have collected 88% of residential rents, 95% of commercial rents & only 26% of retail rents.