cross-posted from: https://exploding-heads.com/post/314355

Occupancy drives building values, and many towers in the downtown area are struggling to maintain tenants. The CRE collapse in the metro area is not entirely due to remote or hybrid work trends. Instead, at least one financial firm tells us they’re actively searching for space outside the city because Democrats have failed to maintain law and order.

Let’s not forget the CRE mess is a nationwide issue in major US cities.