Commercial realty holds firm for now, defaults expected from retail tenants

Since March 25, realty advisory and brokerage the Anarock Group signed agreements for over Rs 250 crore of real estate of which just a little over 12% accounted for commercial property

Commercial real estate has been notable for big-ticket deals. Like in September, when Blackstone Group and partners snapped up a business park owned by Café Coffee Day for around Rs 2,800 crore. But transactions that size are vanishing due to a troubled financial system, and epidemic-related lockdowns.

While there are rare instances of smaller deals happening in prime locations, the future indicates office space rentals holding good with defaults to come from retail tenants.
 

Since March 25, realty advisory and brokerage firm Anarock has signed in principle agreements for sales of over Rs 250 crore of real estate. Of this,