It happens every time there's a shock, a crisis, an upheaval, and now a pandemic. It's important to note that even in these times, some people are benefitting off of distressed real estate. Some businesses who haven't been hit with revenue issues have been leasing and buying commercial spaces at excellent terms.
LA DWP just signed on for a 10 year lease for a property in DTLA. 132,000sf. https://therealdeal.com/la/2020/05/20/power-lease-ladwp-inks-deal-for-132k-sf-at-downtown-office/
Jellyfish just left WeWork and signed on for 2 entire floors of the Valentino building in NYC's midtown. They probably wanted to keep their staff isolated a bit more.
https://commercialobserver.com/2020/04/marketer-jellyfish-leaves-wework-for-10k-sf-in-midtown/
The historic building dubbed the "Pottery Barn Building" in Old Town Pasadena just sold for only $16m. A steal for a corner property that will go up in value once things calm down. https://labusinessjournal.com/news/2020/may/18/retail-site-pasadena-fetches-16-million/
Facebook is about to sign a lease for a humongous space at the Farley Post Office building in NY. https://www.vno.com/office/property/the-farley-building/3313609/landing
The Centinela, a 48-unit building in Santa Monica just sold. Only $12M. In SANTA MONICA. Upside potential on this place for sure. https://labusinessjournal.com/news/2020/may/04/santa-monica-multifamily-sells-12-million/
