What I’m Reading
Wait and See: The office market is in for a long period of adjustment as tenants take a non-committal, wait and see approach to what the future will hold while scaling back gradually on their footprint. AVC
Anti Establishment: Americans have unprecedented access to marijuana as numerous states legalize cannabis. Yet just one in three cannabis consumers in the U.S. buys from established brick-and-mortar stores, according to a survey published this month by New Frontier Data. Bloomberg
Round Trip: A monthly report from Datex Property Solutions shows national retail collections totaled 87.7% in March 2021, the highest rate since the start of the pandemic—collections totaled 90.9% in March 2020—and a stark improvement from the 40% total collections in April 2020. Globe Street
Long Way to Go: Hotels reliant on convention center business face a larger uphill climb returning to pre-pandemic levels than other business hotels, as businesses and other organizations slowly work their way back toward embracing traveling to large gatherings. Commercial Observer
Metamorphosis: Dead malls are being reimagined as everything from fulfillment centers, to high schools, to corporate headquarters. Axios
Chart of the Day
We are about to start seeing a lot of headlines about a truck driver shortage exacerbating the supply chain bottleneck.
Source: The Daily Shot
WTF
Life Finds a Way: A woman claimed that she saw a baby velociraptor sprinting through her back yard on a security camera because Florida. The US Sun
Red Handed: A Pennsylvania man was arrested for breaking into a woman’s home and stealing used sex toys. The Smoking Gun
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
Visit us at RanchHarbor.com