The coronavirus has brokers guessing as to how this will affect leasing in the short term, and Avison Young says leasing activity is likely to have a degree of decline in transaction volumes compared to pre-crisis expectations.
As of late, CityLine Sunnyvale signed three new leases with retail tenants, bringing Ulta Beauty, Kids Care Dental & Orthodontics and Xfinity to the development in late 2020.
Leasing dropped for the second consecutive quarter to 1.9 million square feet in fourth quarter 2019, which translates to leasing activity falling below the five-year average, according to Savills research.
"During these uncertain times that impact all of us in personal ways, our ability to support each other, our people and our communities will ensure we emerge from this crisis stronger than before," says Joe Erlinger, president of McDonald's USA.