As the coronavirus continues to rock the biggest and most profitable cities in the country, investors and lenders alike are scouring secondary markets for safe havens — or investments that won’t lose value when the market gets rough.
Forget the gateways. (Well, there’s one you can keep. More on that in a minute.) New York City is suffering from a glut of not just new construction, but also a whole new wave of subleasing. Same story for Washington, D.C. Last month, Commercial Observer reported that Los Angeles office leasing is down some 61 percent from 2019.
Real estate pros looking to de-risk during the coronavirus pandemic should look in the Sun Belt and the Mountain West, finance executives told CO. Here are the top five markets to investigate:
The third-largest city in Texas is reprising its role as a late-19th-century boomtown, as it attracts major companies…