Trbo Commercial Real Estate – News You Can Use!
As salons, restaurants and retail start opening up, we begin to look forward to the coming weeks and what our world might look like moving ahead. This week, we will be recognizing our front line workers, talking about Governor Ducey’s latest orders, looking into potential changes that may occur in commercial real estate after COVID-19 settles and what we could all use a little bit of in our lives…self-cleaning surfaces!
Paying Tribute to Our Nurses and Doctors
With the appreciation for our nurses well under way through National Nurses Week, we would like to take a moment to acknowledge our nurses and doctors who have sacrificed so much while working on the front line. Many are giving up time with their families to help those in need, staying in travel trailers instead of their homes. Long hours and risky environments have pushed some of our health care workers to their limits. Thank you for all you have done and continue to do for those in need.
Salons and Dine-In Eating – Back In Business!
On Monday, May 4th, Governor Ducey announced that he will be opening up salons and restaurants. Salons can begin doing business today and restaurants may allow dine-in service on Monday, the 11th. I’m sure many are elated that they can, soon, eat at their favorite restaurant and get that hair cut they’ve been waiting so long to receive. I know I am! Some, on the other hand, may still be leery about venturing back into the world we once knew prior to the pandemic. Bear in mind that proper sanitation and physical distancing measures are being strictly enforced to help struggling businesses open as soon as possible. This is a positive step toward normalcy and economic recovery.
Commercial Real Estate – What Will It Look Like As The Economy Re-Opens?
With the implementation of physical distancing, increased sanitation practices and so many working from home, what will commercial real estate look like as America begins to reopen? Many offices have been using high-density open-office designs with cubicles in recent years but this practice may have to change as we merge back into our shared workspaces. Workers may not feel comfortable in such a high-density environment.
As we stated previously, the industrial market is holding strong as more consumers are doing online shopping vs in-store visits. The biggest concern with industrial businesses is keeping the environment and its workers safe.
Most retail and hotels have been deeply affected by the pandemic but groceries and pharmacies have held strong. As more retailers re-open, operations will change. This is true with restaurants as well. Where we previously had the ability to allow many consumers into establishments, physical distancing procedures will change this significantly. Which, in turn, will affect the dollars these businesses need to stay open.
Self-Cleaning Surfaces – Will This Be the New Normal?
In 2016, NanoSeptic released a self-cleaning film for touch screens, elevator buttons, portable mats and more that can turn surfaces into a continuously self-cleaning surface. With the fear of contracting COVID-19 and other viruses, could this newer technology be the next big thing? As many airports, hotels, cruise lines, nuclear plants and government facilities use this to provide a cleaner surface for their clients and employees, others may follow suit as we all look to businesses to provide a cleaner environment. I know we could use a little bit of self-cleaning in our homes!
It is clear that both the economy and the commercial real estate industry will be changed after things settle down but, as with many other economic downfalls, we have always emerged strong and, once again, thrived. I have faith that we will come out on top and our economy will recover. If you have any questions regarding commercial real estate or what is going on with the economy, please don’t hesitate to contact me.