Research

"If it is proven that some business functions can be run successfully through remote working, tenants may decide not to house such operations in their office space once we reach the new normal."

The industrial sector is expected to weather the economic ramifications of the COVID-19 pandemic better than other areas of the economy, Colliers says.

Many tenants are also not moving into new housing during the pandemic, the report found.

If suburban commuters would prefer office space in short walking distance from the three major transportation hubs in New York City, they may find options a bit limited.

Academic Richard Florida joined UCLA's June 2020 Economic Outlook on residential real estate to discuss how cities will rebound after the pandemic.

Sales expanded by 300% in April. For the first half of June, that number was down to 200%.

"As we got into March and April, we saw growth like nobody could have ever predicted or planned for."

This amount is more than double the amount of CMBS loans that went into special servicing for all of last year.