- Covid-19’s Omicron Variant Starts to Take Toll on Businesses “Covid-19’s accelerating spread has hampered operations and slowed sales at some companies in a matter of days, but many say they hope precautions adopted during previous surges will help them motor through this one. Restaurants were among businesses most immediately hit.” (The Wall Street Journal)
- Updated: CoStar to build state’s tallest building along Richmond riverfront “The project amounts to a $460 million investment and would bring 2,000 additional jobs to Richmond over the next few years, adding to the 1,000 employees CoStar has here already. That would make it the company’s largest office.” (Richmond Biz Sense)
- The Office of the Future Remains as Uncertain as Ever “Since the onset of the pandemic, there has been much discussion about the future of the office sector, especially how much space companies will occupy and what the post-pandemic office layout will look like. However, as we approach the two-year mark since the start of the crisis, only one thing seems to be certain: there is still no clear answer as to the true long-term impact COVID will have on the office market.” (Commercial Property Executive)
- Strip Centers Reap The Rewards Of A Retail Revival As Tenants Flee Traditional Malls “Strip centers are the main beneficiaries of a recent brick-and-mortar retail renaissance as stalwart chain and department store tenants flee their spaces in traditional enclosed malls and head for the open air.” (Bisnow)
- Deadline Nears for Banks to Reckon with Impaired CRE Loans “TDRs have been a way for lenders to modify a loan’s terms, because of a borrower’s financial or legal difficulties, and account for an impairment of value. Under the initial CARES Act, that requirement was temporarily postponed as part of pandemic relief so that financial institutions didn’t have balance sheet shock, which would have affected their ability, or willingness, to lend.” (GlobeSt.com)
- TikTok is opening 300 restaurants to deliver some of its most viral food trends like feta pasta and corn ribs across the US “The video-sharing platform announced Friday that it is partnering with Virtual Dining Concepts to launch a delivery-based food service chain starting in March 2022. Titled "TikTok Kitchens," the venture is intended to bring TikTok-famous foods to its fans, rather than serve as an official push into the restaurant business, a TikTok spokesperson told Insider.” (Insider)
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