Industrial facilities, like this PCC, Panattoni property in Cartersville, GA, are heavily favored over other CRE assets, according to LightBoxs survey.
Its not the outright fear or negativity surrounding the COVID-19 outbreak that most concerns those in the commercial real estate (CRE) industry. Rather, its the uncertainty.
Thats according to a market confidence survey polling those in the broker, appraisal, lending, investing and environmental consulting/engineering sectors on how they have been impacted by COVID-19 and the resulting recession. LightBox, a real estate technology firm, conducted the poll from mid-April through the end of the month.
The survey indicates that the top three concerns for CRE professionals are the unknown duration of the pandemic, rising unemployment and the difficulty of accurately forecasting business activity.
There is no shortage of uncertainty about when sellers will be comfortable putting properties back on the selling block, when lenders will be less skittish about originations or when the impact of the pandemic on property values is clearer, says Dianne Crocker, principal analyst with LightBox. Ultimately, the effects on the commercial real estate market will vary by geography and asset class and will depend primarily on how quickly the health crisis is controlled and the duration of the economic shutdown.
Lenders, consultants, appraisers and others in the field fear the consequences of instability on their businesses long term, but current realities are similarly harrowing. Of the respondents, 74 percent have experienced a slowdown in transactions and prospective projects, while 46 percent report deal delays specifically related to inability to access sites for inspections. Only 11 percent of survey respondents indicated that they had experienced no negative impact to their productivity levels.
Among those surveyed, 30 percent have implemented a hiring freeze or have delayed hiring plans specifically because of the pandemic and its fallout, while 22 percent are actively downsizing.
Reluctance seems to be the plan for many. About one-third of respondents noted fewer new listings for properties and difficulty in arranging financing. Brokers noted that sellers are waiting to see how prices will be impacted by the shutdown.
Impediments to getting deals done included physical barriers: Nearly half of those surveyed said that a lack of access to sites for inspections (either because of site restrictions or health concerns on the part of assessors) had created delays. Similar difficulties (for 37.7 percent) arose as CRE professional were unable to obtain property data due to closures nationwide.
Nearly a quarter of those surveyed reported a rush to complete late-stage deals, particularly in cases where financing was already secured and due diligence completed.
In the near future, some brokers anticipate a surge in new properties on the market as uncertainty dies down and deals resume. This surge will be accompanied by an uptick in demand for reliable tenants as buyers consider an assets robustness and cash flow projections under a new set of market conditions, according to LightBoxs report.
The majority of respondents indicated that hope for a fast, V-shaped recovery was dead, with 53 percent indicating that they anticipated full recovery would not occur until August or later. Particular segments of those surveyed were more optimistic as whole: brokers, investors, consultants and engineers anticipated a faster and more complete return to normal than their significantly impacted peers in appraisals or lending.
Sarah Daniels
View original post here:
LightBox Survey: Longevity of Pandemic, Unemployment Are Top Concerns for CRE Professionals - REBusinessOnline
- Inside the longevity lab that aims to help people live longer - TODAY - February 27th, 2024
- I'm a longevity expert these are the 4 supplements I take every day to fight aging - New York Post - February 27th, 2024
- The Longest Living People In the World All Abide by the 'Power 9' Rule - GQ - February 27th, 2024
- Im a longevity expert and there's six things you should do daily if you want to live longer' - Daily Record - February 27th, 2024
- Reducing the metabolic burden of rRNA synthesis promotes healthy longevity in Caenorhabditis elegans - Nature.com - February 27th, 2024
- Presidio Federal's Thad Anderson Receives WashingtonExec's Longevity Award - WashingtonExec - February 27th, 2024
- Faces of wealth, intellect and longevity, as revealed by veteran face reader - The Korea Herald - February 27th, 2024
- I'm a longevity expert here are the best foods to eat for a long and healthy life - New York Post - February 27th, 2024
- Danny Care: 'Pilates Has Helped with the Longevity of My Career' - Men's Health UK - February 27th, 2024
- Give Me This Mountain | Tips for Spiritual Longevity - Harvest.org - February 27th, 2024
- Chris Hemsworth did a 4-day fast to reverse aging. His trainer played a cheeky joke to test his willpower. - Yahoo Canada Shine On - February 27th, 2024
- Pet longevity is a spark about to turn into a wildfire - Longevity.Technology - February 27th, 2024
- The Longevity of Bitcoin's Bull Run; Polkadot and Up-and-Coming Memecoin Draw Crowds - Analytics Insight - February 27th, 2024
- 'This is weird': Experts 'shocked' by record-breaking longevity of Death Valley's phantom lake - Livescience.com - February 27th, 2024
- Understanding the Longevity of SARS-CoV-2 Antibody Responses to Infection and Vaccination - Medriva - February 27th, 2024
- Experts agree: The fasting-mimicking diet may be the key to longevity - Longevity.Technology - February 27th, 2024
- Daily habits of a longevity expert : TED Radio Hour - NPR - December 30th, 2023
- Why does fruitcake last so long? Ingredients and preparation of the dessert play into its longevity - Fox News - December 30th, 2023
- Interviews of 2023: the longevity companies - Longevity.Technology - December 30th, 2023
- Nancy Wilson Discusses Longevity of Heart & Family Drama Within the Band Ahead of New Year's Eve Show in Seattle - American Songwriter - December 30th, 2023
- What Will It Take To Make Super-Aging Not So Super-White? - Well+Good - December 30th, 2023
- Arteta on Moyes and longevity in coaching | Quotes | News - Arsenal.com - December 30th, 2023
- New Years resolution guide: 5 steps to a healthier 2024 from a longevity expert - Fox News - December 30th, 2023
- Interviews of 2023: the longevity visionaries - Longevity.Technology - December 30th, 2023
- The Top 11 Longevity Tips Of 2023, From The mindbodygreen Podcast | mindbodygreen - mindbodygreen - December 30th, 2023
- Why LeBron James' longevity is unmatched in the NBA | Good Word with Goodwill - Yahoo Sports - December 30th, 2023
- Short vs long fasts: What is the ideal length for longevity? - Longevity.Technology - December 30th, 2023
- Centenarians share the secrets to living a long, healthy life - Fox Business - December 30th, 2023
- Rob Lowe on Turning 60 Soon & His Secret to Career Longevity (Exclusive) - Extra - December 30th, 2023
- Investigating the longevity and diversity of South Asian miniature traditions - STIRworld - December 30th, 2023
- The Silent Threat of Hypochondria: Impact on Longevity and Health - Medriva - December 30th, 2023
- Longevity: What lifestyle habits could help you live to 100? - December 22nd, 2023
- Aiming for longevity - Harvard Health - December 22nd, 2023
- How Long Can We Live? - The New York Times - December 22nd, 2023
- This Was the Year of Obsessing Over Longevity - GQ - December 22nd, 2023
- Menopause Age Looms Over Women. Efforts to Prevent it Could Extend Fertility. - Bloomberg - December 22nd, 2023
- Longevity: Is exercise the key to a longer, healthier life? - Medical News Today - December 22nd, 2023
- The #1 Sign You'll Live to 100, According to Longevity Experts - Gwinnettdailypost.com - December 22nd, 2023
- Cowboys Take On Dolphins, How Longevity Factors Into Hall of Fame Election and More - The 33rd Team - December 22nd, 2023
- Longevity Hacks Are Coming to Your Gym - WSJ - The Wall Street Journal - December 22nd, 2023
- 106-year-old woman shares hobbies, habits she says helped longevity - Business Insider - December 22nd, 2023
- Tips to Improve Your Health & Longevity in the New Year - KATU - December 22nd, 2023
- NN Group gets 13bn longevity risk transfer with Prudential and Swiss Re - Reinsurance News - December 22nd, 2023
- A fresh perspective on longevity - savannahmagazine - December 22nd, 2023
- Este Lauder targets age reversal with Stanford Center on Longevity partnership - Cosmetics Business - December 22nd, 2023
- Longevity means taking a proactive approach to prevention - Longevity.Technology - December 22nd, 2023
- Decoding Longevity: Centenarian Traits and Aging Research - BNN Breaking - December 22nd, 2023
- Brain Age: The Science of Cognitive Longevity - BNN Breaking - December 22nd, 2023
- The Role of Exercise in Longevity: A Holistic Approach to Health and Fitness - Medriva - December 22nd, 2023
- Get interventions to market and to people faster and cheaper - Longevity.Technology - December 22nd, 2023
- Humans Could Live up to 150 Years, New Research Suggests - May 17th, 2023
- The ingredients for a longer life - BBC Future - May 17th, 2023
- Life Expectancy by State 2023 - World Population Review - May 17th, 2023
- About Us - Fountain Life - May 17th, 2023
- Longevity: The Keys to Slow the Aging Process - Dr. Axe - March 29th, 2023
- "I got a 20-year contract. Giannis is going to play for 20 more years" - Mike Budenholzer on the longevity of Giannis Antetokounmpo and the... - January 23rd, 2023
- "I think Nadal has been doing a great job of that in the last four or five years": McEnroe believes Murray needs to shorten points for... - January 23rd, 2023
- Jon Voight is 'blessed' to have had such a long Hollywood career - Yakima Herald-Republic - November 7th, 2022
- USD Index to sink to 103 by end-2023 amid greater certainty and longevity of Dollar downtrend Westpac - FXStreet - November 7th, 2022
- Retirement Calculator | Northwestern Mutual - October 15th, 2022
- The Longevity Investors Conference Gstaad brought together longevity experts and deep-pocketed investors - Cointelegraph - October 15th, 2022
- Do you think ageing can be reversed? Here are 12 longevity startups to watch - Sifted - October 15th, 2022
- 'SNL' Gig Was a Risk Rob Lowe Credits for His Longevity: 'I Had People in My Life Telling Me - TheWrap - October 15th, 2022
- Wellness and longevity brand Serotonin Centers to open in Nashville - Tennessean - October 15th, 2022
- Lesley Stahl on longevity of '60 Minutes': 'That clock is still there' - USA TODAY - October 15th, 2022
- 4 Recipes With Corn, Beans, and SquashThe Three Sisters Ingredients That Blue Zone Centenarians in Costa Rica Eat Every Day - Well+Good - October 15th, 2022
- The Search for a Pill That Can Help Dogsand HumansLive Longer - WIRED - October 15th, 2022
- Supontis vs Dogecoin, Which Cryptocurrency Has Greater Longevity In The Market? - Coinpedia Fintech News - October 15th, 2022
- Louisville Zoo says goodbye to one of world's oldest gorillas - Evening News and Tribune - October 15th, 2022
- 'Prolong your lifespan': 5 'cheapest' foods that can boost longevity - Express - October 15th, 2022
- FOXO Technologies Announces First Distribution Partner and Begins Product Rollout in California; Expands Executive Team With Insurance Industry Talent... - October 15th, 2022
- Timeless: USM Arts and Sciences Faculty Members Ball, Meade Cite Love for Students, Teaching as Keys to Longevity in Profession - The University of... - October 15th, 2022
- The Best Workout To Slow Aging and Promote Longevity, Science Reveals Eat This Not That - Eat This, Not That - September 4th, 2022
- Share your story of loss or survival as part of The Longevity Project series on cancer - Summit Daily - September 4th, 2022
- Drinking two cups of tea a day is linked to boosted longevity - Women's Health UK - September 4th, 2022
- How the Asphalt Industry Can Improve Pavement Longevity - For Construction Pros - September 4th, 2022
- Longevity: Playing the Long Game in Ministry - The Gospel Coalition - September 4th, 2022
- Know 3 longevity secrets of the last USSR President Mikhail Gorbachev who died at the ripe age of 91 - Times Now - September 4th, 2022
- Tyrese Maxey Lauds LeBron James, Serena Williams, And Tom Brady For Their Longevity: "What Is In The Water Bron, Serena, And TB12... - September 4th, 2022
- 'There Should be Some Reward for Longevity in This Game'-Kiwi Pacer Wants Change In Central Contracts - News18 - September 4th, 2022