Restaurants, one of the supposed saviors of regional malls, have been hurt in the past 12 months by too much expansion and a slowdown in consumer spending.
Inflation concerns, higher tariff on foreign goods and tax law changes have all triggered recessions in the past.
Despite some obstacles, CMBS remains key source of financing for commercial real estate.
Industry experts forecast a comeback of physical stores, smaller store footprints and an end to massive bankruptcy announcements.