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Grocers have mostly avoided the pain caused by e-commerce, but COVID-19 is forcing adoption of online delivery. Grocers and the REITs that lease to them need to adapt quickly, BTIG consultants say.
"U.S. restaurants are being hit particularly hard by widespread stay-at-home guidelines and business closures, which contributed to a near-50% drop year over year in spending at restaurants and bars during April," S&P Market Intelligence stated.
Besides the obvious categories, there are also other net lease winners that are performing well—some of which are even seeing stronger consumer activity than pre-crisis.
Westcore's last investment in the Oakland area occurred two years ago with the purchase of an 87,870-square-foot, multi-tenant industrial property less than 10 miles from this property.