Fed Sounds Alarm on Commercial Real Estate, Business Bankruptcy

[Wellstone ruled]

5. Kind of old data ,

needs to be updated with the Covid Reality. Something from my Experience doing B to B vendor sales. Did a back of the envelope calculations of my old Sales and service area,coupled with a few phone calls to old Account Contacts. Bottom line,80% were remote Zoom operating. Some require each worker to do a onsite skill building or skill set refresher on a scheduled basis. Many are going to stay with remote work schedules after the Covid all Clear is given.

Couple of me Contacts have said,they are giving up their Office Leases rather than renew and downsize their foot print to a minimal or Consolidate to a Regional Foot print keeping their Employees and Sales Personnel .

Just a small sample that I found very insightful. If memory is still working,that would effect four fifteen floor class A properties.