- The Pandemic May Mean the End of the Open-Floor Office “As businesses contemplate the return of workers to their desks, many are considering large and small changes to the modern workplace culture and trappings.” (The New York Times)
- Some California Businesses Reopen in Defiance of Coronavirus Stay-At-Home Orders “As Californians prepare to enter the seventh week of stay-at-home restrictions, signs of fatigue are becoming evident.” (LA Times)
- MGM Resorts Completes $750 Million Debt Offering “MGM Resorts International said Monday it has completed a previously announced offering of $750 million worth of debt.” (MarketWatch)
- Coronavirus Will Shrink US Home Prices By 2-3% Nationally, Zillow Forecasts, But Deeper Dive Could Be in Store “Home prices will fall 2-3% this year, according to Zillow. As a comparison, home prices dropped just more than 27% nationally during the Great Recession, from their peak in 2006 to the trough in 2012, according to the S&P Case-Shiller Indices.” (CNBC)
- Commercial Leases in the Era of COVID-19 “Commercial real estate is poised to be hit especially hard by COVID-19. While homeowners and renters have their own worries, commercial owners and their tenants are anxiously navigating their way through a morass of decimated income levels and unpayable rent, the path fogged-over by the novelty and unique horror of the current situation.” (Mortgage Professional America)
- JC Penney Goes to Court to Try to Stop Sephora From Pulling Out of the Troubled Chain’s Stores “J.C. Penney is trying to avoid a major blow to its recovery prospects from the coronavirus pandemic — losing Sephora.” (CNBC)
- 'The Era of Tax Cuts Is Over': The Wealthy US 'Investor Class' Will Have to Pick Up the Tab for Coronavirus Stimulus, Guggenheim Co-Chair Says “Those who benefited from President Donald Trump's 2017 tax cut will be the first in line for higher dues to pay for the government's skyrocketing debt, Jim Millstein, co-chairman at Guggenheim Securities, said Monday.” (Business Insider)
- Banks Tighten Lending Standards as Coronavirus Crimps Demand: Survey “In particular, more banks said they had either significantly or somewhat tightened commercial real estate lending standards compared to other types of loans.” (American Banker)
- Open for Business: Hotels Post-COVID-19 “Hotel owners and investors are facing occupancy rates that in some cases have dropped to zero and they not expected to come back until at least the fourth quarter of 2020.” (Commercial Property Executive)
- CRE’s Projected Recovery Has Morphed Into a Swoosh Shape “While CBRE is optimistic about the larger US economy’s recovery, commercial real estate will take a longer time.” (GlobeSt.com)
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