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As companies downsize, look for them to find cost savings, even if they start leasing "spokes."

After distressed assets didn't materialize as expected in the last recession, some funds are broadening their approach.

"As consumers and businesses adapt to enforced distancing and lockdown measures, the way in which Americans use commercial property has abruptly changed."

REIS forecast a "record" decline in asking and effective rents by between 3.4% and 3.9% for 2020 alone.

The largest new delinquency in July was the $267 million Gurnee Mills loan, which became 60 days delinquent during the month.

"We're more likely to see a good recovery in the second half of this year or probably the first half of next year as the pandemic comes more under control."

Provident needed to close the Star loan transaction in less than two weeks, while in the middle of the COVID shutdown, so PCCP moved quickly and provided a creative solution for the complex transaction.

For office users that can delay making a decision, they are delaying. For those that can't, they are asking for an extension.