The Impact of Covid-19 on Commercial Real Estate

Published on
September 22nd, 2020
52 minutes

The Impact of Covid-19 on Commercial Real Estate

The Interview ·
Featuring Jim Berry

Published on: September 22nd, 2020 • Duration: 52 minutes

Real Vision managing editor, Ed Harrison, gets a soup-to-nuts overview of the commercial real estate industry from Deloitte's Jim Berry, US Real Estate Leader. He shares an in-depth analysis of the rapid impact of Covid-19 on subsectors of commercial real estate: residential, industrial, office, retail, and hospitality. Filmed on September 17, 2020.



  • TJ
    Tim J.
    27 September 2020 @ 03:18
    Good try, but CRE is such a broad topic the talk needed to be more specific. I’d bet the critics here would be much more interested in hearing a CRE hedgie talk about their trading ideas about public REITs impacted by COVID and/or when REIT stocks have historically and should again be good longs or shorts. Returns etc
  • AR
    Al R.
    22 September 2020 @ 15:27
    the number of videos that i find interesting in a week has been going down dramatically. seems RV is focused on adding more products/features that are just fluff IMO.
    • AS
      Arman S.
      22 September 2020 @ 20:00
      I tend to agree. RV, Please focus on contents rather than bringing all these different membership tiers and products but along the way losing the quality that you used to provide. Thank you.
    • RI
      R I.
      22 September 2020 @ 21:58
      Probably why they’re re-releasing very old long-form interviews from the good ole days.
    • JG
      Joshua G.
      23 September 2020 @ 01:36
      Can't say i disagree,will have to see how things play out
    • MR
      Milton R. | Founder
      23 September 2020 @ 06:53
      And I agree that on a weekly basis not all the interviews we do will be liked. Maybe some of them for good reason. At the same time, the improvements we did to Real Vision with the tiers and added features in 2020 was a need. The community where members could interact without the limitations of a simple comment board, the tiers that showcase what was already created back in 2016 with Think Tank and 2017 with Macro Insiders and events such as the Crypto Gathering and Festival of Learning all add to the value that all members are getting.
    • js
      john s.
      23 September 2020 @ 16:13
      Milton R - you're not listening to your base. If you're explaining, you're losing.....
    • VS
      Viktor S.
      26 September 2020 @ 19:53
      I disagree. You can rate the video badly, but you should also have in mind that RV got a Deloitte partner in front of a camera to talk about CRE - a potentially interesting conversation. You cannot blame Ed or RV for the quality of the interviewee's answers as the questions were spot-on. I would almost give it a like because this was a masterlass in how to dodge questions!
  • BD
    Brian D.
    26 September 2020 @ 18:20
    What an absolute clown. Another corporate consultant with no real knowledge, spouting useless information.
  • GK
    Gautam K.
    24 September 2020 @ 05:30
    Jim was a total waste of time!
  • Md
    Matthew d.
    24 September 2020 @ 01:00
    Nothing against Jim, but this wasn't a very "thought provoking" interview in my opinion. I personally didn't really get an "alpha" from this report like so many of the other RV long form interview (I feel like I could have just read the Deloitte report...) Either way, appreciate you bringing on a RE professional Ed, keep up the good work!
  • LG
    Lance G.
    23 September 2020 @ 22:55
    Good effort on your part Ed, but I am afraid that we heard nothing but non answers to your questions. Deloitte is paid handsomely for advice like that. Hmmmmm
  • AT
    Alun T.
    23 September 2020 @ 20:22
  • JJ
    John J.
    23 September 2020 @ 20:17
    This conversation needed at least SOME actionable ideas. He should be a weather forecaster or work for the Fed.
  • MO
    Mary O.
    23 September 2020 @ 12:54
    key takeaway, "deals that make sense are still getting done" --- as big a pain in the butt as it is to source, plan and conduct an interview, sometimes you have to acknowledge a complete lack of content and just shelve it. What a hack that guy is, Ed I half feel sorry for you and am half annoyed with you.
  • KD
    Kelley D.
    23 September 2020 @ 11:23
    Buller.?.Buller? Buller are you still listening?...Good effort Ed., you gave it your best .but ."cap rates a function of location and risk?"...duhh
  • CH
    Chris H.
    23 September 2020 @ 04:53
    I was looking forward to this interview given I have spent a lot of years in Corporate Real Estate, although was wary of it being too much of a sales pitch, which it was. I can understand the negative responses, since the first half was a real waste of air time, but the second half was better and consistent with other sources of information I have recently heard. Nothing particularly actionable because of the generality of the discussion, but worth 20 mins or so from about 24 mins in.
  • CL
    Chad L.
    23 September 2020 @ 03:18
    A big 4 partner is not going to actually answer any questions. He will seek only to convince you that he has something secret hiding behind the curtain. Valiant effort Ed, but alas, the effort failed.
  • dw
    douglas w.
    23 September 2020 @ 01:25
    Ed's awesome, don't need a doom gloom story, but this interview clearly was not expressing the reality of the current commercial real estate market, the strain and the knock on effects that will ripple 6-12 months from now.
  • AD
    Antonio D.
    22 September 2020 @ 21:15
    Kudos to Ed, really tried hard. This guy was a waste of time.
  • JM
    Justin M.
    22 September 2020 @ 20:56
    Wow, this was a waste of 40 minutes. I saved myself 10 by stopping before it was over. Not the right guest for RV.
  • LB
    Lukas B.
    22 September 2020 @ 10:16
    He's got a great point at around 18:30 about how to maintain a company's culture. Many firm are essentially internal mindset driven, and that is "enforced" by having everyone together in the same physical location.
    • TS
      Tom S.
      22 September 2020 @ 20:42
      Yeah. Sounded like Mr Berry just came from an "enforcer" meeting and was spouting "approved" jargon while studiously avoiding insight.
  • ER
    Eric R.
    22 September 2020 @ 16:25
    Ed, you did your best. Praise for that. But, when you ask a consultant questions, expect to get consultant answers. Words such as “strategic”, “talent models”, “maturity scale” and “holistic” will float freely in the air and it will all sound good. However, when you reflect on what substance you really got, you realise that you just got another example of a consultant BGO (Blinding Glimpse of the Obvious). This was empty calories.
  • RM
    Robert M.
    22 September 2020 @ 16:08
    Jim brought up a couple of things to think about, but interviewing someone from a Big 4 accounting firm is probably not going to give you a lot of "out of the box" comments. It is not in Jim's best interest to do so thus the more vanilla answers to Ed's questions.
  • js
    john s.
    22 September 2020 @ 15:56
    Why are all the interviewee's on RV 10+ years older than video photo's lately??
  • HF
    HENG F.
    22 September 2020 @ 14:32
    Great interviewer and questions. Terrible responses
  • SL
    Sean L.
    22 September 2020 @ 12:38
    Was looking forward to this because I'm renegotiating two retail leases atm. Brutal interview... absolutely no real world input - basically a sales pitch for investors to keep money in the space.
    • JI
      JWD I.
      22 September 2020 @ 14:07
      It would be good to get an “out of the box” / contrarian leader in this space to provide their insights. I believe that real estate could be a big “wild card” with the potential for negative cascading ramifications.
  • JI
    JWD I.
    22 September 2020 @ 12:43
    From my perspective, companies that had weak cultures prior COVID have really struggled to adapt to the challenges of the pandemic and view the need for office space as a way to maintain some semblance of "culture". Companies with strong healthy cultures were not only able to better adapt but in some cases are evolving to more efficient business models. Office is not dead but I believe "smart companies" are going to re-evaluate their need/dependence/use of their office space going forward. They will do this for many reasons; business continuity strategy, work/life balance needs, environmental concerns, as well as productivity enhancement.
  • RJ
    Raoul J.
    22 September 2020 @ 11:49
    Talking to us like we are empty coconuts
  • CC
    Christopher C.
    22 September 2020 @ 10:31
    Real Estate for dummies.
  • PJ
    Peter J.
    22 September 2020 @ 09:27
    A bit too much consultancy type spiel for me, prefer plain speaking. No real strong POV / opinion came across to me as to the timing and changes he believes are likely to happen. Good background to the CRE space.