Today, as many, many small businesses confront the new realities of a global pandemic, I wanted to put this post out there so others may benefit from my experience.
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School closures, work-from-home directives, and a state of emergency have all contributed to revenue losses already.
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Tracking closures, service changes, and other alterations in the wake of COVID-19.
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So, as the realities of COVID-19’s spread throughout the Boston area became clear, Graffito made the call to cancel/postpone all Zone 3 events through the end of March.
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The city’s arts and cultural communities will also be hard hit – lost revenue from cancelled gallery shows or performances; a drop in discretionary art buying; art-making contracts and collaborations postponed.
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Hundreds of restaurants and restauranteurs are asking state officials for a financial reprieve as they expect significant losses during the COVID-19 outbreak.
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We believe it is necessary that we, as a real estate community, immediately grasp the gravity of the threat to the retail and service businesses in our projects and neighborhoods and act swiftly to accommodate as best we can, understand, and respond to inevitable requests of relief from tenants.
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Local businesses are working hard to reassure take-out and dine-in customers—before pandemic panic forces them to close their doors for good.
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We will do our best to be clear and honest, which means, at times, sharing the news we are getting in real-time that is not yet apparent to most of you.
read moreHere is a collection of client updates from Graffito’s Jesse Baerkahn.
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