Insights: Commercial Real Estate In A COVID World
To close out the end of a once in a lifetime year, our CEO Robert Hayman sat down in a recent interview to talk about 2020’s lasting impact. How did 2020 shake up the commercial real estate industry, what did we learn, and what’s in store for 2021 and beyond?
Invaluable insights from the interview:
- Avoid high debt levels on properties.
- Invest in real estate niches with longevity.
- A key to surviving downturns is a strong, innovative team.
- Be flexible: Think about what is happening, but also what could happen.
- Industries will bounce back: Be on the lookout for big opportunities.
- And many more topics on the nature of work, commercial real estate, and how to push beyond the “new normal.”
What does the future of commercial real estate hold?
“It's always proven out the norm does come back. People talk about "the new normal". I'm not so sure what that "new normal" is going to be, but I don't think it's going to be that far afield from what the "old normal" was. I would look for the hospitality business, hotels, motels, resort hotels, even business hotels and convention hotels, to snap back at some point. Those may be some of the biggest opportunities if you have that experience level in those areas.”
— Robert Hayman
For more insights on how COVID-19 has changed the commercial real estate landscape, the nature of work, team dynamics and more, watch our video above.