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Message
How Big Of A Hit Will Commercial Real Estate Take
Posted on 4/10/20 at 12:24 pm
Posted on 4/10/20 at 12:24 pm
After this is over? It's clear that companies can fully function with employees working at home. I can't imagine companies, especially small businesses that can function, will want to continue to put cash towards leases once the ones that are in place end.
12
Posted on 4/10/20 at 12:26 pm to MontyFranklyn
quote:
I can't imagine companies, especially small businesses that can function, will want to continue to put cash towards leases once the ones that are in place end.
Never underestimate the stubbornness of boomers.
Posted on 4/10/20 at 12:27 pm to MontyFranklyn
quote:
It's clear that companies can fully function with employees working at home. I
Function? Sure, but how well? There's plenty of companies that aren't doing nearly as well with everyone working from home as they are otherwise.
Plenty of companies were already exploring the options before this. I'm not sure this will expedite as much as others think. There's also a lot of people that like to go into the office regularly. Maybe not daily, but regularly.
Posted on 4/10/20 at 12:28 pm to MontyFranklyn
Any service industries - Yes
Retail/wholesale will still need brick and mortar buildings.
Does this mean employees can expect more pay if working at home and saving the company rent?
Retail/wholesale will still need brick and mortar buildings.
Does this mean employees can expect more pay if working at home and saving the company rent?
Posted on 4/10/20 at 12:29 pm to MontyFranklyn
quote:
that companies can fully function with employees working at home
LoL.
I bet an average work from home employee gets about 60% of the work done if you're an employee at an office
Posted on 4/10/20 at 12:29 pm to Shexter
quote:
Does this mean employees can expect more pay if working at home and saving the company rent?
Posted on 4/10/20 at 12:31 pm to East Coast Band
quote:
I bet an average work from home employee gets about 60% of the work done if you're an employee at an office
It's not for everyone. I bet a lot of people dick off twice as much at home. I do my best not to.
Posted on 4/10/20 at 12:32 pm to East Coast Band
quote:
LoL.
I bet an average work from home employee gets about 60% of the work done if you're an employee at an office
It really depends on your job and your personality. I understand some people like it, but plenty don't. The benefit from work from home is no commute or lunch or any other BS. Nothing but work and calls. As much as people hate meetings, many meetings are a necessity and getting people in a room together is often beneficial.
There's no perfect solution.
Posted on 4/10/20 at 12:32 pm to East Coast Band
quote:
I bet an average work from home employee gets about 60% of the work done if you're an employee at an office
Plenty of studies have shown the WFH employee matches or exceeds the average office employee in productivity.
Not really fair to measure WFH productivity in the current scenario. Way too much noise and contributing factors to draw real meaningful conclusions.
Posted on 4/10/20 at 12:33 pm to MontyFranklyn
WeWork, holding long term, insanely expensive leases and completely overleveraged, is so screwed. Couldn't happen to a nicer bunch.
Posted on 4/10/20 at 12:36 pm to usc6158
WeWork is probably screwed for the reasons you mention, but I could see the concept benefiting greatly from this.
More and more companies will see they may not need or want full time office space.
More and more companies will see they may not need or want full time office space.
Posted on 4/10/20 at 12:37 pm to MontyFranklyn
Office space & retail down, multi family up
Posted on 4/10/20 at 12:39 pm to StealthCalais11
My wife's family has only one commercial property remaining and that is leased to a dentist office.
Large space commercial will take a hit. No way it doesn't.
Large space commercial will take a hit. No way it doesn't.
Posted on 4/10/20 at 12:41 pm to MontyFranklyn
quote:
ompanies can fully function with employees working at home
But, can employees?
I suspect there will be pushback from employees who will have had just about enough of their families when this is over.
Posted on 4/10/20 at 12:42 pm to usc6158
quote:
WeWork
Wondery did a great podcast series on that dumpster fire of a cult.
Wondery Podcast Link
Posted on 4/10/20 at 12:43 pm to baldona
quote:
There's no perfect solution.
Have an office with a substantial conference room for group collaborations.
Have several docking stations for people who want to work away from home.
Allow people to work from home if they do not want to be in the office.
Flexibility is the key
Posted on 4/10/20 at 12:46 pm to Oilfieldbiology
quote:
Have an office with a substantial conference room for group collaborations.
Have several docking stations for people who want to work away from home.
Allow people to work from home if they do not want to be in the office.
Flexibility is the key
This.
The WeWork concept is still solid and may prove the way forward. Everything else about WeWork is retarded but I could see tons of companies ditching their long term leases that accommodate their full staff 5 days a week.
Posted on 4/10/20 at 12:50 pm to MontyFranklyn
Retail will have big vacancy issues for a few years.
Office will ultimately be fine. Office spaces are changing a lot already. It’s not just about employees being able to get tasks done. Companies need a venue to host meetings, conduct interviews, etc. Offices are a marketing tool in that way. Also, zero face-to-face interaction between employees would be problematic long-term.
Multifamily will likely boom in a year or so. Industrial is still killing it, as are data centers.
Office will ultimately be fine. Office spaces are changing a lot already. It’s not just about employees being able to get tasks done. Companies need a venue to host meetings, conduct interviews, etc. Offices are a marketing tool in that way. Also, zero face-to-face interaction between employees would be problematic long-term.
Multifamily will likely boom in a year or so. Industrial is still killing it, as are data centers.
Posted on 4/10/20 at 12:51 pm to MontyFranklyn
Nick Saban just learned to email. That generation ain't working from home.
Posted on 4/10/20 at 12:55 pm to Crowknowsbest
quote:
Multifamily will likely boom in a year or so. Industrial is still killing it, as are data centers.
Hope so for multi family! This is my industry.
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