CRE in the time of COVID

Tempe Town Lake. / Photo by Mike Mertes, AZRE / AZBigMedia

By RaeAnne Marsh | InBusiness Phoenix

Real estate has always been a major part of our economy. And, as a lagging indicator whose thread weaves through businesses of every type, size and sector, it is also the perfect instrument with which to take the pulse of our economic health.

Looking at how the pandemic is affecting the market, Jonathan Keyser of Keyser LLC says, “There’s a lot of impact that’s happening,” and observes, “Just in the overall commercial real estate market, you’re seeing vacancies rise; sublease space continues to hit the market. Real estate is a lagging indicator, not a leading indicator, and so we’re just starting to see rates start to decline.” He expects there will be more decline in pricing, and notes, “Delinquencies on loans is rising across the sector.”

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