Northeast

While some buyers are delaying or canceling escrows, Jon Rosenberg of Levrose Commercial Real Estate, says that post-pandemic discounts may be less than you think.

However, owners like CapRock Partners are expecting rent relief and rent deferral requests.

So far, there has not been any government relief for mortgage servicers although Fed Chairman Jerome Powell says the Fed is watching the situation.

While questions remain about the construction supply chain, American companies may want to increase warehouse space.

The property features 41,000 square feet of self-storage and 67,000 square feet of industrial/warehouse space.

Also, on Monday, California Gov. Gavin Newsom, Oregon Gov. Kate Brown and Washington Gov. Jay Inslee announced an agreement on a shared vision for reopening their economies and controlling COVID-19 into the future.

Commercial brokers did express confidence in the future of the market, according to the REBNY survey.

Unfortunately, this much-needed announcement has been marred by a departure from standard language, causing tax and legal professionals to debate the nature of the relief that the Notice granted.