Matthew Kertz Shares Insights on How to Survive Commercial Real Estate Industry in 2024

February 13, 2024  |  By: Matthew Kertz, Esq.

“Survive to ’25” has become a popular phrase among professionals in commercial real estate — because everyone in the industry knows 2024 is going to be a rocky year.

Each of the players in the venerable trifecta of tenant, landlord and lender are having problems of their own. Consider:

Commercial tenants: Those in office are still addressing the problems that began or were crystalized by COVID. Many companies have found that they do not need the amount of space on their current leases and are locked in now above market rents, and landlords will not or cannot take the space back due to financing constraints. According to CoStar, nearly half of office leases executed pre-2020 have yet to expire.

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