3 ms·
Everyone in commercial real estate keeps hoping for a return to pre-covid work patterns, but it isn’t going to happen. Not paying thousands/millions a year for
by nickpeterson 3y ago
Everyone in commercial real estate keeps hoping for a return to pre-covid work patterns, but it isn’t going to happen. Not paying thousands/millions a year for a location is a huge advantage.
- gadflyinyoureye 3y agoIt is, but it should often be compared to the loss of tax breaks to have the building. Many large companies got deals because they would bring X number of workers to the area. Those deals are predicated on reports about building utilization. Cities overlooked those reports during covid, but now care. So you might have a $10 million dollar building (that you can't sell), but you are now also liable for $1 million in taxes because you broke your deal.