My husband’s an architect. In previous downturns they could keep offices running on doing tenant fit-outs. There’s none of that now.
I saw on Calculated Risk a discussion of CRE in northern VA – they talked about “see through buildings” – brand new commercial office buildings that dont’ have tenents – so you can see through from one side to the other on multiple floors. There’s a LOT of those here in San Diego now. (SE corner of 805 and 52 has an example).
.
