The way we work has changed beyond comprehension in the past 200 years. But the way we use offices is pretty much still the same. There have been changes in design: Closed individual offices were the norm, cubicles came and have now largely gone, and today the open office and agile working reign supreme. But the idea of a place where you travel to work, nine hours a day, five days a week, hasn’t changed since the idea was invented during the Industrial Revolution. Until now.
Texas leads the country with the most approvals for the U.S. Small Business Administration’s Paycheck Protection Program as of April 13, according to SBA data obtained by the Texas Bankers Association. Show Full Story Texas has approved 88,434 loans totaling $21.77 billion, as of April 13. California followed behind Texas, having approved 54,922 PPP applications totaling $20.85 billion in loans, as of April 13. Florida ranked third, having approved 52,021 loans totaling $12.
The Dallas-Fort Worth economy started 2020 strong, poised for a year of continued economic gains after leading the nation in job growth in 2019. Then, Madison Marquette says in its first-quarter office market report, the region withstood two shocks: the onset and spread of COVID-19, and a nearly 70% drop in oil prices. Noting that the Metroplex’s office vacancy ticked upward to 20.7% during Q1, CBRE nonetheless says office-using employment is likely to withstand the pandemic’
New Round of Support Includes $600 Billion for CMBS Lending The Federal Reserve took additional actions to provide up to $2.3 trillion in loans to support the economy. The latest action, on Thursday, gives support to sectors in the economy that had not yet been addressed, including for some AAA-rated commercial mortgage-backed securities. The Fed said it would broaden the range of assets that are eligible to serve as collateral for loans through its Term Asset-Backed Securiti
The coronavirus is already taking a heavy toll on many real estate sectors. Millions of jobs and the future of thousands of businesses hinge on the outcome of negotiations between landlords and tenants in the wake of the March quarter day. Show Full Story For retail, leisure and serviced office tenants, the last few weeks of the coronavirus lockdown are just the beginning of what could be many months of problems paying the rent. And it’s no walk in the park for landlords and
On top of payroll relief, the $2 trillion Coronavirus Aid, Relief and Economic Security Act contains tax provisions that may help business owners free up cash in the form of tax refunds. The package is dense and the applications for aid are long and complex, leaving potential beneficiaries scrambling to understand, much less secure, payouts. On the bright side, the lengthy bill is full of opportunity: CohnReznick partner and practice leader of federal tax services Brian Newma