Dark Outlook: Covid Will Test the Mettle of the Region’s Real Estate Industry As Vacancies Mount
Coronavirus tests the real estate industry.
By Daniel J. Sernovitz
Monday Properties started big, with Rosslyn anchor tenants such as Nestle USA and contracting giant Raytheon Technologies Corp. (NYSE: RTX). From there, the commercial real estate owner worked its way through other tenants across its portfolio of D.C.-area buildings, surveying them about their goals, plans and apprehensions regarding an eventual return to the office.
That culminated May 4 with the release of a “Covid-19 Return to Work” memo to building tenants, taking that feedback into account and advising them of what to expect when their employees start commuting to the office again.
The 19-page document covers topics ranging from the cleaning of common areas and adherence to social distancing, walking tenants through the front door to the lobby and onto elevators, fitness center and loading docks. But if that isn’t enough to allay their fears, Jennifer Burns, senior vice president of property management and operations at Monday Properties, has this piece of advice for tenants: just say so.
