‘Zombie Offices’ Spell Trouble for Some Banks
www.nytimes.com
Bank tremors serve as a reminder: Just because a crisis hasn’t hit immediately doesn’t mean commercial real estate pain isn’t coming.

This is the real reason for companies wanting people back to the office.

All this talk about collaboration and team spirit is just the publicly given reason for wanting people back to the office.

The real reason is that now the owners of the buildings are losing money.

Cry me a river.

  • evranchEnglish
    28·
    4 months ago

    Often they have signed leases with themselves. With original owners, holding companies etc.

    This is a way of extracting value from a corporation without paying it as a dividend or salary. Dividends go to all shareholders. Lease payments go to one specific one.

    So obviously if there’s no reason to pay these leases anymore, somebody powerful is going to be very upset.