Online Shopping & Delivery Squeezes Landlords
Digital grocery sales have soared, but potential aftershocks are significant for smaller tenants that occupy grocer-anchored centers that depend on grocers to draw in customers. Those tenants pay higher rents than they would at other retail centers because of traffic exposure — a premium that could evaporate should current trends in online shopping take hold. (Source: Phoenix Business Journal)
Can Empty Offices Help Solve Housing Crisis?
The COVID-19 crisis has emptied office space around the country. An abundance of vacant commercial real estate could be transformed into what the real estate market is most desperately clamoring for: Housing. According to an article at realtor.com, “The nation is in the throes of an unprecedented housing shortage, setting off bidding wars and driving home prices to new highs — even amid a recession. These repurposed buildings could become opportunities to increase the much-needed supply of residential real estate.” (Source: Realtor.com)