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But more jobs will be created to backfill the lost office space, he also says.
John Hinson joins Shafer in moving to Capital Real Estate Group.
Still, rent payments are lagging what they were a year ago.
The rooftops of commercial buildings are the ideal "cell tower" site.
Still normal activity will be possible by the end of this year or in 2022.
Previous stimulus measures sparked an increase in retail spending and helped keep tenants up to date on rent.
We've faced much worse news in the past 12 months, so I think we can deal with an interest-rate hike.
But Paycheck Protection Program loans could give the sector a boost.
Most banks will likely stop writing those contracts by June to allow a six-month grace period.
There are challenges around compliance and security that must be considered.