COVID-19 Trends of the Week: August 3-7

Life sciences sector continues to show strength. Manhattan’s office market on the rebound. Officials call for eviction ban extensions. These are the trends that shaped coronavirus coverage this week.
  1. Facebook’s major lease a welcome sign for Manhattan’s office market
New York Gov. Andrew Cuomo. Image via the Governor’s official Flickr

Office leasing in Manhattan is way down from the same time last year, but activity in July was six times higher than the previous month. Facebook’s 730,000-square-foot lease in the first week of August is another sign companies are still betting on in-person office space.

Facebook Closes on Massive NYC Office Expansion
New York Post

Office leasing volume increases in Manhattan
Real Estate Daily Beat

  1. Life sciences sector continues to show strength

Life sciences space has continued to be in demand throughout the COVID-19 pandemic, with many tenants doing essential work and new projects coming online. However, many companies in the segment raised significant capital in the first quarter, before the pandemic hit.

Life Sciences Shows Pandemic-Proof Potential
Commercial Property Executive

Sterling Bay Plans Lincoln Yards Life Sciences Hub
Crain’s Chicago Business

  1. Officials call for eviction moratorium extensions

With eviction moratoriums set to expire in states and cities around the country, many officials have chosen to extend the emergency orders in light of the continued impact of the pandemic, including President Trump, who suggested he would act to stop evictions.

Cuomo Extends Eviction Ban Into September

California Legislative Leaders Ask Courts to Keep Coronavirus Eviction Ban in Place
San Diego Union-Tribune

Trump Says He May Act to Stop Evictions Amid Virus-Aid Talks
Yahoo Finance