Retail

the potential sale of its core grocery-anchored shopping center portfolio and its mixed-use redevelopment projects are among the possibilities.

Since the pandemic, people want to be in spaces that are addressing the risk of viral transmission, according to Patrick Winters of Nadel Architecture + Planning.

"Even with investment in state-of-the-art retrofitting, it will be difficult for shopping centers to reach those goals, as offsets of that magnitude would both tenants and consumers make significant changes in consumption."

Wages have been on an upward tear for five consecutive months, while the labor force participation rate stayed stagnant at 61.7%.

Morningstar reports that 15.2 percent of the CMBS malls delinquent or REO, compared to 10.5 percent across all retail loans.

Vornado is also selling some retail properties at a loss.

The Delta variant of Covid-19 is a cloud over prospects for the construction industry in 2022 from but without it would likely be a booming economy, cautions Marcum, a national accounting and advisory services firm.

According to a new report from Marcus & Millichap, more than a third of investors the firm surveyed say their properties are operating better than they were before the pandemic.