Its one of the big things that I mentioned when COVID started and they really only barely touched on it near the end, but Commercial Real Estate needed to be prepared to take some of COVID in the teeth.
Because otherwise you just bury small businesses and even giant businesses! And you can bitch and moan about getting your rent but they're not going to pay you and then you set yourself up for a gigantic down-swing cycle thats going to take years to recover from.
Especially in a place like San Francisco...the tech companies were amongst the first ones to realize "We dont have to be here anymore."
And when they're the ones paying the Lion's share of the rent? Except for 'The Company Formerly Known as Twitter' but my understanding is that he stayed and still doesnt pay his rent.
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The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
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If you thought this season would have a happy ending, you haven't been paying attention.
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