Jason Hartman talks with Josh Simon, distinguishing different types of commercial real estate, and how they were affected by coronavirus. Most of the media was publishing that commercial real estate is suffering, but it’s important to distinguish what kind. Commercial spaces have shifted from experiential to essential, but most successful companies are making adjustments along the way.
New York and California, and similar high-density areas are having trouble enforcing social distancing. How will this affect possible migrations away from heavily populated areas, and the commercial property within? As these changes are made, and commercial spaces are being reused, what kind of zoning problems might come up?
[3:45] While the news has published what they are calling disaster in retail spaces, Josh Simon clarifies exactly which retail spaces are struggling the most.
[5:15] Commercial space has moved largely from experiential to essential.
[11:25] The grocery store will likely get smaller over time with the needs for the center store shrinking.
[13:45] Discussing the trend of businesses adapting to drive-thru, curbside and to-go services.
[17:30] Commercial real estate stats for rent collection.
[23:45] How will New York and California, or any other high-density area, be able to enforce social distancing?
[28:35] How will specialized asset classes do through coronavirus, like self-storage?
[30:00] Are we going to see zoning issues turning some of these commercial spaces into alternative uses?