Top Real Estate News for Thursday, Nov. 18, 2021: Office Space Subleasing Declines
Subleasing office space dips for first time in the pandemic, and CVS Health NYSE: CVS) plans to close 900 drugstores. Home profits hit new heights while mortgage applications dip, and a senior housing REIT's wage woes provide sector insight.
Cushman & Wakefield says in its new 3Q21 report that the market for subleasing space otherwise left empty by the pandemic is now on the decline. The commercial real estate (CRE) giant also says that timing would match previous recessions, when sublease space increased for about two years before peaking and then receding.
Source Fool.com
