Breaking COVID19 News
Doing meetings virtually has gone up dramatically , and companies like ZOOM , GoToMeeting and others are taking off . Even Google added virtual meetings to its suite of services . I am hearing that busy executives like these online meetings because it saves them time travelling by plane or car , and that they get more done as a result of the time savings . My executive friends say that once their lease on their office ends , they will not be renewing their lease having tasted the benefits of working remote . They like the savings of rent , parking , gas and time .
IMPACT ON REAL ESTATE
Given the increase of remote working , it is easy to conceive that many companies will start to reduce their office space after COVID19 , so office properties will be directly impacted . I personally have seen tenants moving out of their offices
during this pandemic . The flip side to this is that many remote workers will likely want to have flexibility for a workspace of their own , other than their home , so executive office companies should benefit . Companies as We Work , Regus and others will likely be able to take advantage of this shift in the marketplace by getting better locations , and lower pricing . Other contenders include incubator spaces for business and technology startups . Similarly , office property owners will need to rethink what amenities they offer to attract and keep tenants , such as dining , coffee shop , gym , shared space , outdoor meeting space , or even convert buildings to mixed use .
Bottom line , in this crisis , opportunity also looms , and the old players and roles will shift . Accepting the situation and adapting to it by implementing creative vision will bring wealth and success to those who take the risk .
DAVID MASHIAN
David Mashian is the founder and CEO for MoneyMac Loans . David started MoneyMac because he personally experienced and realized that small businesses and entrepreneurs could not qualify for loans under the traditional bank lending standards . MoneyMac is a nationwide lender dedicated to providing investment real estate loans for residential 14 , multifamily , mixeduse and commercial properties . David provides assetbased investment property loans give financing for tough to qualify borrowers , including W2 employees , selfemployed entrepreneurs and small business owners . MoneyMac focuses on the property ’ s value and the borrower ’ s credit , without using bank statements or tax returns .
David is a proven real estate industry leader , who has helped many companies transform their business goals to reality . He has a high degree of real estate experience and expertise spanning from real estate finance , brokerage , sales , leasing , brokerage management , and franchising of real estate brokerage companies . Using his wide base of connections to brokers , investors and industry leaders , David has put together many deals for joint ventures , debt & equity raises , acquisitions , and real estate sales . David graduated from the University of California , Los Angeles , and teaches Real Estate Principles at the University of California , Irvine .
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