COVID-19 Slashes Commercial Real Estate Deals in Stricken South Florida

The coronavirus pandemic hasn’t just decreased South Florida commercial real estate deals. It chopped the transaction dollar value by more than half for some property types.

“The impact is across each asset class. We were Wuhan, Florida, for a period of time,” attorney Roland Sanchez-Medina Jr. said of South Florida’s record-breaking COVID-19 cases in midsummer. ”At the time of buying something, the feeling should be positive and energetic and really looking forward to the future. For the most part now, there’s uncertainty, sort of pessimism. The biggest issue is the uncertainty about what the future is going to hold.”