SANTA BARBARA, CA-Although the coronavirus has hit the realestate market in southern California hard and the downturnshows no signs of abating any time soon, commercial real estatecontracts are not being widely cancelled as a result, according toa report from the Hayes Commercial real estate brokerage.
The locally-based company recently issued its first quarterreport, finding widespread uncertainty in the southern Californiacommercial real estate sales and leasing markets. The report,however, also found some "heartening" news in the fact thatskittish investors are not simply seeking to back out ofcontracts over the pandemic, which has shuttered businesses acrossthe country.
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Max Mitchell
Max Mitchell is ALM's Regional Managing Editor for The Legal Intelligencer, New Jersey Law Journal, Delaware Business Court Insider and Delaware Law Weekly. Follow him on Twitter @MMitchellTLI. His email is [email protected].
