X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Sunday night, Los Angeles Mayor Eric Garcetti announced the closure of bars, entertainment venues and fitness centers and restricted restaurants to take-out and delivery only as a result of the spread of COVID-19. The list of restricted retailers will sound familiar to those in the commercial real estate industry. These are the businesses that have driven retail leasing activity and that have expanded rapidly in last two years as retail has recovered. That will likely come to a halt as a result of these closures, and depending on the length of time, could result in the permanent closure of businesses, particularly mom-and-pop or locally owned shops.

Each of these segments of retail will be impacted differently. Restaurants have the best chance of making it through, because they are able to stay in business—and generate revenue—through delivery and to-go orders. “The majority of businesses have credit lines that they can draw down from. From the business owners’ standpoint, they are leveraging the opportunity to do take-out and delivery,” Chris Maling, principal with Avison Young, tells GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.