While a number of developments have stalled, and some have been canceled, many not-yet-completed real estate construction projects will still go forward, although likely at a slower pace, according to Moody's Analytics.
Contributing to the pessimism could be the increase in number of reported coronavirus cases in the country, delays in development and obtaining permits, delays in financing, and supply shortages
Investor activity in the net lease space has remained strong for necessity-based uses, publicly-traded companies with strong financial positions, and uses such as quick-service restaurants with drive-thrus.
Despite New York City based companies looking to suburbs for cheaper office space outside dense urban areas, leasing activity for Long Island office space experienced a slowdown in the second quarter.