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March 18, 2020

Will Coronavirus Take Out Supply Chains Next? It Depends On What Truckers Decide.

Nikki Chaffin used to drive a big rig, but her immune system was compromised a few years ago when she contracted a nasty case of Lyme disease. Now, she stays home and dispatches while her husband, Jon Vance, hits the road.

Vance was in Illinois in his standard 53-foot box truck in January when the novel coronavirus was being predicted to hit the U.S. A few weeks later, he stopped home just long enough to drop off supplies. The couple devised their own sanitizing system.

"He comes to the door," Chaffin said. "I'm fully masked — double-masked with an N95 and a paper surgical mask, eye protection and gloves. He's sprayed with Lysol and puts the bags in the door. I pull him in and spray him again while I am gloved."

As the pandemic spreads, the fear of infecting loved ones who are at higher risk of succumbing to COVID-19, the disease caused by the coronavirus, has followed, injecting itself in every interaction.

Will Coronavirus Take Out Supply Chains Next? It Depends On What Truckers Decide.

That includes Vance's goodbye to Chaffin last month."He kissed me on the forehead and said, 'Now go alcohol that,'" she said.She doesn't expect to see him again until the coronavirus pandemic is over. He'll continue to live in his truck, which has a bed, a microwave and a refrigerator. Vance is…

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Green Street: 'We Are In A Recession Right Now'

Green Street: 'We Are In A Recession Right Now'  

With the economy in flux and stock prices down across the board, the U.S. commercial real estate property outlook looks pretty grim, Green Street Advisors said in a webinar Tuesday.

Businesses have shut down, some restaurants are going to limited operations and many employees are working from home. REIT shareholders are taking notice. In the three weeks ending Monday, the S&P was down nearly 30% and REITs were down 35%, Green Street Advisors Managing…

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The Coronavirus Is About To Test The Benefits, And Limits, Of Teleworking

The coronavirus pandemic has corporations and office landlords scrambling like the average consumer. But instead of toilet paper, they are now scrambling with how to maintain a cohesive office environment while everyone works from home.

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Coronavirus Means Pubs, Restaurants And Leisure Tenants Need A Rent Freeze. Can Landlords Afford To Help Them Out?

 

LONDON — Last weekend, Anthony Lorenz’s phone was ringing off the hook. Client after client was calling the London-based veteran tenant rep advisor, all with the same problem. Revenue had fallen off a cliff, cash flow was tight and on 25 March the quarterly rent was falling due.

“I had clients I hadn’t spoken to for two years, ringing out of the blue, asking for help talking to their landlord,” the managing director of The Lorenz Consultancy said. “We act for some of the biggest clubs, bars and restaurants in the West End. Our clients were telling us takings from the weekend were at least 70% down, often as much as 90%. One club told us that instead of taking £130K over the weekend they had taken £14K. If landlords don’t help out, the leisure industry in the West End will collapse.”

The property industry has a role to play here, and can provide vital support for tenants in the form of rent deferrals or cuts. While this idea is great in theory, it poses problems in practice: Landlords might have their own cash flow issues and rely on the rental income they receive from tenants to pay staff and make loan repayments. 

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Inside Neiman Marcus' 'Courageous' Decision To Say Last Call On Its Outlets

 

Neiman Marcus surprised the retail world when it announced plans last week to close most of its 24 U.S. Last Call discount locations and cut more than 700 jobs.

Traffic was trending up, and off-price retailers like Last Call have outperformed department stores in recent years, and have been seen as a hedge against future downturns.

Yet, analysts covering luxury retail say Neiman’s had only two roads to take in today’s hardscrabble retail landscape — either waste money on the cratering middle-class retail segment or go full-blown luxury.

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