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The office market weathered a pandemic-fueled revolution last year, but both owners and tenants responded with impressive adaptability and endurance. Those things bode quite well for the sector’s recovery, according to Tony Russo and Ryan Freed, respectively SVP and VP at Lee & Associates of Illinois. The two discussed the office market outlook to start the second quarter of 2021 with Commercial Leasing Law & Strategy’s ALM sibling GlobeSt.com.
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By Scott R. Lippert and Darcy Baboulis-Gyscek
Only a handful cases have addressed force majeure clauses in commercial real estate agreements in the wake of the pandemic, which has produced conflicting views as to whether performance was excused.
By David Samole
There have been plenty of cases during the pandemic that shape the landlord-commercial tenant dynamic both in Chapter 11 bankruptcies and in workouts.
By Aron Solomon
By moving away from demand for traditional offices and office space, employers will be able to select from a much broader range of talent and a much greater geographical range of places to find and use these employees.
By Erika Morphy
Underwriting clearly has been affected by the pandemic-led downturn. Lenders are using higher vacancies and reserves to underwrite, leading to more conservative loan proceeds.