After a lag, the work-from-home revolution is lastly beginning to present up within the information for workplace constructing rental charges.
State of play: Main markets like San Francisco and Manhattan — the place lengthy commute times appear to be driving the sturdiness of the WFH life-style — have been hit the toughest.
Alternatively, markets like Raleigh, Boston and Minneapolis — which have a better focus of well being companies, biotech and life science employment — appear to be faring nicely. (It is laborious to do laboratory analysis from your house workplace.)
What we’re watching: Whether or not the problems within the workplace market worsen as a result of balance-sheet stress at regional banks.
Small and midsized banks (these not among the many high 25) at present maintain 67.2% of all excellent business actual property loans, Axios recently reported.