The fate of the millions of square feet of office space sitting empty in downtowns across the country has the capacity to shift the landscape of the overall economy and commercial real estate. That outcome is increasingly falling into the hands of distressed asset specialists, whose job it is to facilitate the least painful result for troubled properties.
New York University professors estimate office property nationwide will lose a collective 49% of its value by 2029. Distressed sales of office space are likely, Colliers Research Director of U.S. Capital Markets Aaron Jodka told Bisnow, due to elevated vacancies and difficulty meeting debt service covenants. Specialists in…
Source: What To Do Downtown When You're Distressed: A Guide To Buying And Selling Delinquent Office Space