Tysons Office Owners Still Waiting For Shift To Suburbs As Leasing Remains Slow

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Real estate auctions in the U.S. have long been considered a domain of bank foreclosures and little else, but as the coronavirus pandemic increases the need for online transactions — and foreclosure auctions — it has also started to encourage more people to see them as a legitimate way to buy and sell commercial real estate.

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With government support for embattled workers evaporating, apartment rent collections are worsening as the year comes to a close. 

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For the first few months of the coronavirus pandemic, Kontor, a London- and New York-based, tech-focused office broker, found its employees pushing through the uncertainty. Co-founder James Townsend said that many staffers initially thrived during work-from-home life, increasing efficiency while dispensing with the drudgery of a daily commute. But then, winter arrived.

As the days have shortened, and virus levels have surged in both the U.S. and U.K., staff have understandably drifted, feeling more exhausted, isolated and, in some cases, burnt out. 

“Nobody’s business is set up to survive six to 12 months without any sales,” Townsend said. While Kontor has managed to pull together business and even make a small profit in 2020, it’s been challenging to navigate this year’s mental ups and downs.

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