Updates on the US Office Market

Colliers just published a report where they believe there will be minimal impact on the office tenants and the office market. CBRE came out with another report that said it may take a year after the economy rebounds for the commercial real estate market to get back to normal. Globest.com had an interesting article where most office tenants will want to get back to being in their offices versus telecommuting, but their current office configurations may not be suitable for social distancing which may be needed until the vaccine is produced in high quantities sometime in 2021. This may mean needing tenant improvement work to get their office space functional if their current layout is too employee-dense. I read an article the other day where while there may be opportunities for distressed property acquisitions many companies who would ordinarily be raising capital to be ready to do this are instead conserving cash and credit to weather non-payment of rents, higher vacancies and potential businesses closing.