[bossride]

I listened to a webinar presented by James L. Klemntisz, Jr., MAI, SRA last week about the real estate market after COVID-19. He spoke about REIT's share of typical rent during April and May. For the industrial sector, it was 98.6% and 95.7%, respectively. For the office sector, 93.3% and 92.1%. For freestanding retail, 71.4% and 70.1%. Finally, for shopping centers, 45.6% and 47.7%. Clearly, shopping centers struggled the most and will likely continue to do so.

He said that many retailers, such as Old Navy, Petco, Nordstrom, Five Guys and Dick's, had stopped paying rent or severely reduced it. He also said the Urban Land Institute had reduced its 2020 Real Estate Transaction volume forecast from $480B (from October 2019) to $275B and its 2021 forecast from $470B to $400B.