If the fallout from COVID-19 continues, there is little doubtthat the number of abandoned and foreclosed properties will likelyincrease.
To show how the CRE environment will change, Newmeyer DillionPartner Mike Krueger points to restaurants. The ones that areallowed even to open will have fewer customers.
"If you had a big 8,000 square foot restaurant that allowed youto have 150 customers at one time, the most you're going to have islikely going to be half of that because you're going to havespacing requirements and you're going to have certain limitations,"he says. "Then you're also going to have limitations on how food isgoing to be prepared. You will no longer have chefs in the kitchenworking shoulder to shoulder."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
