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My business partner’s friend recently needed a place to work with WiFi for a few hours in Midtown Manhattan. She saw a WeWork building, wandered in, found a work space, and did what she had to do. Nobody bothered her as other itinerants shuffled in and out. She thought about grabbing a free beer in the socializing area on her way out, but reconsidered since she was freeloading as it was.

Besides the cratering retail sector sending overall core real estate returns to anemic levels, there are other cautionary signs that should give investors pause. In particular, they might also prepare for a period of uncertainty in the office sector.

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