May 2022

BTL Mark: Resolve interoperability issues & increase buyer confidence
BACnet Testing Laboratories

(Click Message to Learn More)

James Carlini, President &
Certified Infrastructure Consultant
CARLINI & ASSOCIATES  (since 1986)
Strategic Infrastructure Consultants

New Products
Secured by Cimetrics
Site Search
Control Solutions, Inc
Past Issues
Securing Buildings News

Well, I started to predict this a couple of years ago, but most "experts" were not listening.  The erosion of office space vacancy is now also effecting downtown retail space as well.

The total Tsunami has not hit yet. More companies will continue to shrink their demands for office space as more use a permanent "work-from-home" workforce.  The vacated buildings will compete  for whatever tenants are left and it will become the "reverse" of Musical Chairs.  Instead of space being taken away from the market, more space will go online to be rented and the pool of companies wanted spaces will shrink as well as what they need for a corporate footprint.  Some companies have already started as I have pointed out. 

One example, a large international bank scaled down their real estate leasing by 20% in 2021 and now is looking at shrinking it down more in 2022 by 40% .  End result, in a matter of two years they will have cut down their leased space by over 50%.

This is a huge iconic retail building to fall from the Tsunami of vacancies coming across Chicago and it should be a huge warning sign by now. (Other cities are also seeing a marked increase in vacancy rates,)

Water Tower Place continues to bleed tenants and now is being given back to the Bank. Looks like my crystal ball was a little clearer than most of the "Real Estate Experts".

Brookfield Property Partners plans to relinquish Chicago’s Water Tower Place to its lender, MetLife Investment Management

Brookfield Property Partners plans to relinquish Chicago’s Water Tower P...

The owner of Water Tower Place, a mall on Chicago’s Magnificent Mile, will turn the property over to its lender ...

NOT getting back to "Business as usual" was pointed out a couple of years ago in my article as well as others following it.

APRIL 2020 --
After COVID-19: Permanent Changes and Evolution of Smart Cities

After COVID-19: Permanent Changes and Evolution of Smart Cities

COVID-19 will redefine the workplace and the concepts dealing with smart cities as well as government services.

Post-COVID New Normal: Paradigm Shift in Work Environment     

Post-COVID New Normal: Paradigm Shift in Work Environment

Business is changing fast due to the pandemic. Many of these changes will be permanent. Are cities and municipal...

It's not over yet. Downtown areas will continue to implode if nothing is done about the paradigm shift in real estate as well as the increasing crime rates.

As I said in my latest article:
Seeing the approaching tsunami of vacant office space may provide some lead time to make some strategic changes and redirect resources. Realizing it after it hits will just verify that all the tools and experts were just all wet in their analysis.

You can’t apply 20th-century tools and solutions to solve 21st-century challenges. Sometimes you have to take your nose out of the charts and actually take a look at the churning seas around you.
Commercial Real Estate is Facing a Tsunami 

Commercial Real Estate is Facing a Tsunami

The pandemic has severely impacted commercial real estate.

Stay tuned.

Best regards,



[Click Banner To Learn More]

[Home Page]  [The Automator]  [About]  [Subscribe ]  [Contact Us]


Want Ads

Our Sponsors