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The commercial real estate market is still reeling from the aftermath of the pandemic—and 2023 was a particularly bad year for the sector. Last fall, Julie Whelan, CBRE’s global head of ...
With work-from-home trends continuing, the commercial real estate sector is unlikely to recover for some time. Hybrid work schedules could lead to an $800 billion drop in commercial real estate ...
“Commercial real estate has been through a pandemic, very rapid recovery, then massive tightening of financial conditions unlike anything we’ve seen in modern history,” he told Yahoo Finance ...
2020s commercial real estate distress was a worldwide spike in commercial real estate distress that began in the 2020s in the wake of the COVID-19 pandemic and interest rates hikes by central banks in response to the 2021 inflation crisis. Although the increase in distress occurred globally it was most acute in the United States and China.
According to Real Capital Analytics, a New York real estate research firm, more than $160 billion of commercial properties in the United States are now in default, foreclosure, or bankruptcy. In 2024, office leasing volume rose to its highest level since 2020, but roughly 60% of active office leases went into effect prior to the pandemic. [ 5 ]
Office prices continued to slide in 2024, with the average price dropping 11% to $174 per foot last year, according to a report from Yardi Matrix, a commercial real estate intelligence firm.
In commercial real estate, recoverable expenses are those expenses of running a property that are billed back to the tenants as a form of additional rent.A simple example is the electricity bill for a large complex that is then divided up among the tenants.
To his point, the commercial real estate loan distress rate—or the percentage of loans that have been delinquent for over 30 days—soared 480% from February 2023 to 8.6%, signaling more capital ...