With quarantine and social distancing becoming the new normal, even businesses have had to embrace big changes in their working dynamics. Let’s face it! Things are never going to remain the same or return to how they were at the start of the year.
Now, every sector of the world faces the consequences caused by COVID-19 – especially real estate. Tenants, landlords, brokers, and financial institutions find themselves in a bottleneck as restrictions of global lockdown threaten their livelihood.
The COVID-19 pandemic has negatively affected the commercial real estate. It continues to wreak havoc in businesses throughout the economy, and the commercial real estate industry is no exception.
With climate change a major hot button issue in 2020, many offices and commercial spaces are making an effort to go green.
On top of reducing carbon emissions, environmentally friendly offices can help companies save significantly on utility costs, which can directly impact the business’ bottom line.
The coronavirus outbreak has affected and changed nearly everything around us. It has majorly intervened with our lifestyles, social activities, and businesses. People all over the world are concerned about not just their health but also their financial situation.
The recent coronavirus pandemic is affecting commercial businesses in unprecedented ways, such as quarantines, event withdrawals, and supply and demand shocks. One of the significant worries for many commercial building owners is whether this pandemic will force them to file for bankruptcy.
The world is in a state that none of us have witnessed before. The ongoing coronavirus pandemic plays disorder within the economies of the world while we continue our secluded lives at our homes. In these circumstances, many investors are feeling concerned and thinking about what should be done.
Don’t start your search for new space without first talking to a space planner
Take careful note of the components of the the CAM ( Common Area Maintenance) charges. Certain components of these need not be included in your monthly charges.
Since 1978, R. Kymn Harp, a real estate attorney at Robbins, Salomon and Patt Ltd., has represented borrowers and lenders in commercial real estate transactions.