Lol, so things get even weirder….Just in from todays SMT meeting….Since everyone has more or less been working from home/remotely since March, and generally things have worked out ok for us….SMT decided to further save money. We’re not renewing our commercial lease here in SD… We’re going to be 100% remote for the rest of this year. The rational is, we’ve done fine working from home, and maintaining an office in SD is expensive, and since god knows when the lockdown will end, we’re just paying rent for unused office when everyone is working from home. Our lease ends in May, and we pulled the plug on renewing.
Like I said, commericial RE is going to have big problem. REITs might be in trouble..
