Thread by @antonyslumbers

👇 Rather baffled why this is not made more of in CRE. Someone actually said to me ‘air quality will become less of a ‘thing’ now we have vaccines coming’. NO NO NO: Do not sign any lease without knowing what they are doing to ensure excellent IAQ. Top issue.

https://twitter.com/kathf48/status/1345298831559290881

BTW that comment was from an investor. I think many have assets where the ability to have excellent IAQ is low or non existent. So hoping we all ignore it, like pre Covid. But must not happen. Sell these assets before the market clicks, or cough up and upgrade your building.

Also explains the paradox of building new offices even as demand falls away. Done well they can be dramatically better buildings. Done well - very many underperform their theoretical quality.

And either way, annual ratings are a waste of time. Our CRE needs to be monitored in real-time and in an ongoing way. AND this data needs to be available, and public. If public we’d see huge improvements very quickly. And best assets would increase value. Bad assets the opposite.

It’s a carrot/stick game. Mostly the industry hopes it goes away, because much value destruction will follow (but healthier ‘customers’) so Gov needs to use a big stick. But the best owners have big incentive to be more open.