The massive economic hit from COVID-19 has forced scores of U.S. companies into bankruptcy. Here are some with the most significant potential repercussions for commercial real estate. This gallery has been updated to include the latest round of filings and also features notes on the latest developments on the restructuring and liquidation processes for firms that filed earlier in the year.
York Capital Management is looking to cut about 40% of its Fifth Avenue office space as the pandemic prompts companies to rethink the need to occupy expensive skyscrapers.
Retail landlords are beginning to include pandemic language in new leases, reports the Wall Street Journal. The depressed U.S. economy could help make Airbnb IPO successful, as people choose to vacation at homes instead of hotels, according to Business Insider. These are among today’s must reads from around the commercial real estate industry.