Rip,
I just received this from a friend:
My company closed down the physical office two weeks ago and laid off or furloughed 90% of company. We had 128 highly compensated employees, mostly programmers. I'm one of 14 left that is still employed but working remotely. In the meeting of everyone who was left, they said they don't think they'll ever open the office again. WHICH MEANS - I am now free to work from anywhere!
I think there is a very important, not so obvious, lesson here:
How long will it be before everyone else starts wondering why they are spending so much time on the freeway commuting to work? How long will it take to realize they don't like the boss breathing down their neck all day long? How long before they realize they can have two computers on at the same time at their home office desk...one with SS videos (or Facebook)?
Considering the above--how long will commercial real estate survive?
I think commercial real estate is in a death spiral and is about to sink lower than whale dung.
You are more involved in the commercial real estate world than I am...what are you thinking about all this?