How Real Estate Execs Are Soldiering On As Pandemic Takes Hold
Sheltering-in-place, working from home, going virtual.
These are not typical phrases in the commercial real estate lexicon, but as the coronavirus pandemic sweeps the globe — roiling markets, disrupting business and all matters of daily life — the industry is beginning to reckon with what lies ahead.
How long this version of the “new normal” lasts is anyone’s guess, but one thing remains true: The commercial real estate industry never stops.
Brokers, developers, architects and investors alike are adapting, and Bisnow spoke to dozens this week — in cities from LA to New York, Houston to London and Seattle to Hong Kong — to get a sense of how coronavirus is reshaping the way they work.
“We’re hunkering down,” Seattle-based developer James Wong said. “We are strategizing. We know this will end.”
Deal flow hasn't yet stopped, and outside of the travel, hospitality and retail industries, panic hasn't yet set in. But there is a sense that the weeks ahead will be much slower than normal as everyone waits to see what happens next.“I don’t know if now is the time to…
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