What are your thoughts on Retail in the aftermath of this?
Been looking for shopping centers for a little while and I can see some opportunity come out of this after the dust settles as those who bought plazas that had mostly service businesses and were deemed safe are even going to unfortunately get hit.  Someone will buy these assets, I want to start reaching out to brokers.  Any on here that can provide some color, I would be willing to look at anything in the eastern half of the US.  Thanks.
[{"id": "flht35n", "text": "Turn them into hospitals and morgues. Or toilet paper factories.", "replies": [], "depth": 1}, {"id": "flht6az", "text": "Grocery/target/Walmart  anchored should be ok.\n\nLook for creditworthy tenants that have been shutdown due to being nonessential (petco, Marshall\u2019s, etc)", "replies": [{"id": "flhtfxi", "text": "I would suggest the opposite. The centers with non essential tenant will likely be the cheapest.  If you can buy one and fill it with good tenants you\u2019ll get a sweet ROI", "replies": [{"id": "flhtmg3", "text": "That\u2019s what I mean. The grocery anchored centers will be ok during this crisis, so you won\u2019t get a \u201cgood deal\u201d on them.", "replies": [{"id": "flhts8p", "text": "Ah I gotchu", "replies": [], "depth": 4}], "depth": 3}, {"id": "flhttoo", "text": "In fact you could just fill it with new, similar tenants.  Unless you expect this kind of thing to be recurring.", "replies": [], "depth": 3}, {"id": "flix5op", "text": "Problem is that it will be difficult to re-lease, and chances are people won't do a fire sale, you will have to wait for banks to take over... Which may be 18 months from now. Why fire sale when the bank dkesnt want it back?\n\nBest opportunity is to pick up centers that are completely dead and have no mortgage, with owners who cant afford to invest in reteneting.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flhtq3y", "text": "It's going to be bad", "replies": [], "depth": 1}, {"id": "flhvul0", "text": "What I am seeing and think we will see a lot more of is the push to rezone larger retail centers as housing or at least mixed use. There seems to be an endless demand for housing here in Colorado while retail has been terrible long before any of the current issues. The biggest issue is that at least here in Colorado due to tax laws retail / commercial tenants pay well beyond what housing does in property taxes (and sales taxes that are obviously zero for housing).", "replies": [], "depth": 1}, {"id": "flhw94v", "text": "Probably the end for Macy\u2019s and JCPenny and the final straw for enclosed malls. I think we will see a lot of Amazon proof centers go back to the bank. Those types of tenants will be back however", "replies": [{"id": "flipx84", "text": "Depends if they get enough money to survive a year or two from the Government.", "replies": [{"id": "flixafz", "text": "Macys might make it for a while, but Sears, JCP and L&amp;T are dead.\n\nIf you have alot of capital there is a big opportunity to buy some of their boxes.", "replies": [{"id": "flju0r5", "text": "Yeah but even if you buy the box what are you going to do with it? Non retail use? We are seeing that all over but it is detrimental to malls because of co tenancy clauses", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flim5ug", "text": "Biggest risk I see is a ton of supply hitting the market from defaults which will put downward pressure on lease rates. Even a high quality asset with good tenants will be at risk come lease renewal because other owners will get very aggressive with rates and TI.", "replies": [], "depth": 1}, {"id": "flivsdw", "text": "There will be opportunities. Below is a link to a webinar we\u2019re hosting on exactly this on Friday, but you can also feel free to contact me directly if you want to chat offline.\n\n[Live Market Address | COVID-19 Impact in Commercial Retail Investment Property](https://attendee.gotowebinar.com/register/5242899557056040715)", "replies": [], "depth": 1}, {"id": "flkwci8", "text": "Personally I would prefer investing in industrial or multi family.  With the internet putting everything online, retail and office are going to go to shit very quickly.  Especially now that the virus is pushing us in that direction.  I\u2019d reconsider this strategy unless you have experience in retail or have your mind set on it.", "replies": [], "depth": 1}]