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The pandemic has forced commercial real estate to consider whether it’s not just who you know, but what you know.

Some sectors did well; others, a disaster. But no matter where you were, it took skill to read the near future, make the right decisions, invest wisely, broker deals when habitual ways of business were gone.

As experts at the Federal Reserve Bank of Chicago wrote in November 2021, “The Covid-19 pandemic had an immediate and substantial impact on the commercial real estate (CRE) market—emptying workplaces, shopping centers, and hotels, thus affecting the cash flows of businesses occupying commercial space and in turn the ability of commercial space owners to meet their debt obligations.” And they added, “The outlook for the CRE market is uncertain, though recovery is likely to differ significantly across property types and geographic locations.”

 

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