Amid the coronavirus pandemic, the Detroit Mastermind Group met virtually for their April meeting. Members and guests shared their unique perspectives on the crisis and how it has affected various aspects of the commercial real estate industry. The general consensus and questions were, what is the future going to look like?

Some highlights of the group discussion

• Before COVID19 only 4% of people worked from home. Now it is as high as 30 to 40% remote.
• Digital notarization is essential now and this is making a broader acceptance of remote work
• Most deals are not in trouble yet, but May might be tough
• Retailers are not paying rent. Some are deferring. Some say they will pay a percentage of their sales
• Financing is going very slowly. It is difficult for inspectors to get into buildings