- Coronavirus Has Shut Stores, and Retailers Are Running Out of Time “Retailers have furloughed hundreds of thousands of workers, cut executive pay and stopped paying rent, all to conserve cash. For the most indebted retailers, particularly those already struggling before the crisis began, those measures may not be enough.” (Wall Street Journal, subscription required)
- Rents Are Late, and ‘It’s Only Going to Get Worse’ “As the economic shutdown pares tenants’ incomes, April payments have been reduced, deferred or withheld. Some landlords see their property at risk.” (The New York Times)
- Empty Hotels ‘Keep the Lights On’ by Converting Into Coronavirus Quarantines, Emergency Housing for First Responders “Cash-strapped and empty hotels across the country are finding ways to keep the lights on by converting themselves into coronavirus wards or temporary housing for the National Guard or exhausted doctors and nurses.” (CNBC)
- Panera Bread Is Selling Groceries As Restaurant Sales Plummet “Panera Bread is selling groceries as housebound consumers eat fewer meals from restaurants.” (CNBC)
- Trump Administration Seeks $250 Billion More in Aid for Small U.S. Businesses: Mnuchin “The Trump administration on Tuesday asked Congress for an additional $250 billion in emergency economic aid for small U.S. businesses reeling from the coronavirus pandemic, as Senate Majority Leader Mitch McConnell pushed for passage as soon as Thursday.” (Reuters)
- Apartment Industry Calls On Congress To Provide More Support To Renters, Rental Operators “Two national advocacy groups for the apartment industry are calling for Congress to provide additional relief and assistance for America’s rental housing providers, industry professionals and their residents in light of the uncertainty and challenges caused by the spread of the coronavirus pandemic.” (Forbes)
- The Anatomy of a CRE Loan Workout “Those of us around for the 2008 Great Financial Crisis (and similar past events) graphically recall the horror stories between lenders and borrowers. Lessons learned from past crises tell us that having operations organized and teams identified and prepared for trouble could mitigate future issues while preserving time and profits.” (Commercial Observer)
- Walmart, Costco, Target are Barred from Selling 'Nonessential' Items Such as Clothing and Electronics in Parts of the US “Big-box stores and grocery chains in certain areas of the US are being barred from selling nonessential items to customers to reduce foot traffic and prevent the spread of the coronavirus.” (Business Insider)
- Past Downturns Offer Perspective to Hospitality Sector “Years of outstanding growth in hotel occupancy and revenue could help speed up recovery in major markets.” (Commercial Property Executive)
- Medical Retail Space Demand Expected to Resume Later This Year “Currently, there is a brief pause in site acquisitions, but the trend for more medical tenants looking for opportunities to re-position previous outparcel locations should continue.” (GlobeSt.com)
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