IRVINE, Calif., April 05, 2021 (GLOBE NEWSWIRE) -- While it will be decades before the impact of COVID-19 can be fully calculated, in the view of Plutos Sama Holdings Inc., a private equity company in the real estate space, one pivotal and permanent impact can be declared at this time: the conventional office park is dead.
Plutos Sama Holdings Inc. points out that after getting blindsided during the Great Recession, policymakers and residential mortgage servicers learned some painful lessons, and when the pandemic erupted they were prepared to offer deferments and programs for COVID-related issues. As a result of this rapid and coordinated action, not only has the U.S. housing market remained strong overall, but property values have increased in many parts of the country.
However, office parks had not experienced this kind of massive and fundamental disruption before, and as such didn’t know how to act — and the impact on restaurants and other businesses that serve employees and tenants has been catastrophic. After hanging on for as long as they could, many were forced to file for bankruptcy protection or permanently shut down.
Yet, while the conventional office park is history, Pluto Sama Holdings Inc. does not expect them to disappear. Instead, they will likely adapt to the new normal by re-locating next to shopping malls or building more consumer infrastructure within their existing locations.
“The basic fact remains that employees will always need to eat lunch, get dry cleaning, do their banking, and so on,” commented Matthew Browndorf, a spokesperson from Plutos Sama Holdings Inc. “Shopping malls are the ideal hub for these day-to-day tasks, and in the months and years ahead we can expect office parks to take advantage of this by locating as close as possible to shopping malls — and ideally within walking distance. So yes, the conventional office park is dead, but in its place should emerge something new; and in the big picture, possibly much better.”
About Plutos Sama Holdings Inc.
Plutos Sama Holdings, Inc. is a private equity company in the business of taking control positions in domestic and international distressed and contentious residential and commercial real estate ventures, micro-lending, securitizations, law firms, restaurants, mortgage servicing platforms, and eSports.
For more information, visit www.plutosholdings.com.
FOR MEDIA CONTACT: info@plutossama.com