WeWork’s $18 billion bankruptcy just took over 60% of NYC’s office space with it—the last thing the reeling commercial real-estate sector needed
I'm sure you can find it in every single news outlet. I guess this might be the trigger in the commercial REIT failure and cause a financial collapse of some sort. Office space vacancy has been high for a while after covid and never really get back up, and that was not priced in over a long period of time like the shopping mall declines.
If they are shedding the leases, that would suppress rent and therefore make their current tenants move or renegotiate for an even lower rent, causing a downward spiral for every landlord (REIT, Blackrock, etc).
I'm sure you can find it in every single news outlet. I guess this might be the trigger in the commercial REIT failure and cause a financial collapse of some sort. Office space vacancy has been high for a while after covid and never really get back up, and that was not priced in over a long period of time like the shopping mall declines.
If they are shedding the leases, that would suppress rent and therefore make their current tenants move or renegotiate for an even lower rent, causing a downward spiral for every landlord (REIT, Blackrock, etc).