Walter Marin, Marin Architects

Name: Walter Marin

Title: Senior Principal

Company Name: Marin Architects

What was the most challenging part of working during the pandemic?
In February, when we all read the news that China was shutting down for two weeks, I distinctly remember thinking, there’s no way that could happen here. It was extremely difficult to accept that this could come to pass in the U.S., but it did. The hardest part of it all was recognizing that the world still needed to move forward. We weren’t on vacation–at the end of the day, the rent still needed to be paid, the lights needed to stay on, and employees still needed their salaries. Naturally, a bit of accountability is lost across the board when the workforce goes remote. The challenge was getting everyone to adapt to a new normal, to keep the economy flowing. I like to think of this challenge like a train that has been bombarded with a huge gust of sand. Everyone on the train has to clean up a little bit of the sand, and eventually it will keep moving.

What are your predictions for commercial real estate in 2021?
The commercial real estate industry will continue to move online. This is a shift that was necessitated by the pandemic. For example, filing documents with the DOB used to require walking to another building, and now 95% of it can be done online. Additionally, the necessity for office space will be about half of what it used to be. Traditional retail will evolve, as well, and become increasingly digital. Amazon will have serious competitors, and products will be brought to distribution stations rather than delivered. A combination of these two factors will reshape how we view commercial real estate. Another prediction I see coming to pass is a resurgence of the hotel market. As hotel rooms are becoming increasingly inexpensive, more people will be inclined to travel, and the market will naturally bounce back.