{"id":1004441776,"date":"2020-05-15T04:50:11","date_gmt":"2020-05-15T12:50:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004441776"},"modified":"2022-04-19T01:09:54","modified_gmt":"2022-04-19T09:09:54","slug":"covid-19-trends-of-the-week-5-15-2020","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/covid-19-trends-of-the-week-5-15-2020\/","title":{"rendered":"COVID-19 Trends of the Week: 5\/15\/2020"},"content":{"rendered":"<p>The disruptions brought on by the pandemic may trigger changes that will be lasting and fundamental. Some of those shifts will be positive for commercial real estate professionals and some will not. These are the trends that shaped coronavirus coverage this week.<\/p>\n<ol>\n<li><strong>Work From Home Could Be Permanent For Some Employees.<\/strong><\/li>\n<\/ol>\n<p>Google and Facebook will allow employees to work from home until 2021 and Twitter said employees who enjoy working from home can make the arrangement permanent. It is not clear what the practical implications of such moves are for office property owners. Many of the tenants making these pronouncements are committed to large amounts of office space. And what about the ancillary businesses and public services that depend on the hustle and bustle that office workers generate?<\/p>\n<p><a href=\"https:\/\/www.forbes.com\/sites\/jackkelly\/2020\/05\/13\/twitter-ceo-jack-dorsey-tells-employees-they-can-work-from-home-forever-before-you-celebrate-theres-a-catch\/#274a5b1a2e91\" target=\"_blank\" rel=\"nofollow noopener\">Twitter CEO Jack Dorsey Tells Employees They Can Work From Home \u2018Forever\u2019\u2014Before You Celebrate, There\u2019s A Catch<\/a>&nbsp;<br \/>\n<em>Forbes<\/em><\/p>\n<p><a href=\"https:\/\/www.boston.com\/news\/coronavirus\/2020\/05\/13\/manhattan-work-from-home-impacts\" target=\"_blank\" rel=\"nofollow noopener\">Manhattan Faces a Reckoning if Working From Home Becomes the Norm&nbsp;<\/a><br \/>\n<em>Boston.com<\/em><\/p>\n<p><a href=\"https:\/\/www.phillyvoice.com\/greg-englesbe-real-estate-twitters-move-to-permanent-work-from-home-is-a-troubling-sign-for-commercial-real-estate-post-covid-19-0599945\/\" target=\"_blank\" rel=\"nofollow noopener\">Twitter\u2019s Move to Permanent Work-From-Home is a Troubling Sign for Commercial Real Estate Post-COVID-19<\/a><br \/>\n<em>Philly Voice.com<\/em><\/p>\n<p class=\"c-page-title\"><a href=\"https:\/\/sf.curbed.com\/2020\/5\/13\/21256351\/twitter-building-headquarters-work-home-employees-sf\" target=\"_blank\" rel=\"nofollow noopener\">Now that Twitter Employees Can Work at Home Forever, What\u2019s to Become of its Headquarters?<\/a><br \/>\n<em>Curbed<\/em><\/p>\n<p><strong>2. How Secure is Mall Revenue in the Short and Long Terms?<\/strong><\/p>\n<div id=\"attachment_1004387126\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004387126\" data-attachment-id=\"1004387126\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cpe-announces-the-2019-executives-of-the-year\/david-simon-retail-res\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/David-Simon-Retail-res.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"David-Simon-Retail res\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;David Simon, Chairman &#038; CEO, Simon Property Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/David-Simon-Retail-res.jpg?w=800\" class=\"size-medium wp-image-1004387126\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/David-Simon-Retail-res.jpg\" alt=\"David Simon\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/David-Simon-Retail-res.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/David-Simon-Retail-res.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/David-Simon-Retail-res.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004387126\" class=\"wp-caption-text\">David Simon, Chairman &amp; CEO, Simon Property Group<\/p><\/div>\n<p>Simon Property Group&#8217;s announcement that it would reopen 77 malls was a sign of resilience for the company and the mall sector. But the country&#8217;s largest mall owner sent a more ominous message this week when it refused to disclose its rent collections for April in its first quarter earnings report and announced it was furloughing $1 billion in new development and redevelopment projects. Add to that a widely publicized analyst prediction that 50 percent of department store anchors will close by 2021.<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/what-simon-property-groups-q1-results-say-about-retails-future\/\" rel=\"noopener\">What Simon Property\u2019s Q1 Results Say About Retail\u2019s Future<\/a><br \/>\n<em>Commercial Property Executive<\/em><\/p>\n<p><a href=\"https:\/\/www.fool.com\/investing\/2020\/05\/13\/why-mall-reits-like-macerich-simon-and-penn-reit-f.aspx\" target=\"_blank\" rel=\"nofollow noopener\">Why Mall REITs Like Macerich, Simon, and Penn REIT Fell Sharply on May 13<\/a><br \/>\n<em>Motley Fool<\/em><\/p>\n<p><a href=\"https:\/\/www.dailybeatny.com\/2020\/05\/13\/retail-woes-simon-macerich\/\" target=\"_blank\" rel=\"nofollow noopener\">Retail Woes Mount for Simon and Macerich<\/a><br \/>\n<em>The Daily Beat<\/em><\/p>\n<p class=\"ArticleHeader-headline\"><a href=\"https:\/\/www.cnbc.com\/2020\/04\/29\/50percent-of-all-these-malls-forecast-to-close-by-2021-green-street-advisors-says.html\" target=\"_blank\" rel=\"nofollow noopener\">Over 50% of Department Stores in Malls Predicted to Close by 2021, Real Estate Services Firm Says<\/a><br \/>\n<em>CNBC<\/em><\/p>\n<p><strong>3. Senior Housing Communities May Have a Problem Filling Rooms.<\/strong><\/p>\n<p>With the high coronavirus rate in nursing homes and some senior housing communities, aging in place is looking like a safer alternative for some families. Telemedicine and other technologies are making that option more feasible than ever before. So senior housing executives know they will have to step up their games in testing, technology, design and marketing to convince seniors that living in group settings is a good idea.<\/p>\n<p class=\"topper__headline\" data-trackable=\"header\"><span class=\"article-classifier__gap\"><a href=\"https:\/\/www.multihousingnews.com\/post\/apps-telehealth-and-ramped-up-testing-senior-housing-adapts-to-new-normal\/\" target=\"_blank\" rel=\"nofollow noopener\">Apps, Telehealth and Ramped-Up Testing: Senior Housing Adapts to New Normal&nbsp;<\/a><br \/>\n<\/span><em>Multi-Housing News<\/em><\/p>\n<p class=\"topper__headline\" data-trackable=\"header\"><span class=\"article-classifier__gap\"><a href=\"https:\/\/www.ft.com\/content\/c7e2863b-2b0e-4095-978d-bc8766545e97\" target=\"_blank\" rel=\"nofollow noopener\">Coronavirus Hits Senior Homes \u2014 and Their Owners<\/a><br \/>\n<\/span><em>Financial Times<\/em><\/p>\n<p class=\"topper__headline\" data-trackable=\"header\"><a href=\"https:\/\/www.multihousingnews.com\/post\/apps-telehealth-and-ramped-up-testing-senior-housing-adapts-to-new-normal\/\" target=\"_blank\" rel=\"nofollow noopener\">Senior Living Industry Rethinks Building Designs, Improvises Solutions During Covid-1<\/a><a href=\"https:\/\/www.multihousingnews.com\/post\/apps-telehealth-and-ramped-up-testing-senior-housing-adapts-to-new-normal\/\" target=\"_blank\" rel=\"nofollow noopener\">9<\/a><strong><br \/>\n<\/strong><em>Senior Living News<\/em><\/p>\n<p class=\"post-heading heading\"><a href=\"https:\/\/www.mcknightsseniorliving.com\/home\/news\/business-daily-news\/wsj-seniors-housing-could-face-big-vacancies-with-telemedicine-available-to-help-with-care-needs-at-home\/\" target=\"_blank\" rel=\"nofollow noopener\">WSJ: Seniors Housing Could Face Big Vacancies With Telemedicine Available to Help With Care Needs at Home<\/a><br \/>\n<em>McKnight&#8217;s Senior Living<\/em><\/p>\n<p class=\"topper__headline\" data-trackable=\"header\"><a href=\"https:\/\/www.ft.com\/content\/c7e2863b-2b0e-4095-978d-bc8766545e97\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"article-classifier__gap\">Coronavirus Hits Senior Homes \u2014 and Their Owners<\/span><\/a><br \/>\n<em>Financial Times<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is the office tenant base shrinking? Why the industry is watching Simon Property Group. Senior housing executives prepare to step up. These are the trends that shaped coronavirus coverage this week.<\/p>\n","protected":false},"author":1269,"featured_media":1004387126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004441776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>COVID-19 Trends of the Week: 5\/15\/2020 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/covid-19-trends-of-the-week-5-15-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COVID-19 Trends of the Week: 5\/15\/2020\" \/>\n<meta property=\"og:description\" content=\"Is the office tenant base shrinking? 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