Welcome to the commercial real estate apocalypse, where Denver office buildings are selling for literal pennies on the dollar! We're talking 85-90% haircuts on properties that were worth hundreds of millions just four years ago. Brookfield just took a $342 million bath on their Denver office complex, selling for $57.5 million what they paid $400 million for in 2020. Meanwhile, Seattle politicians are so incompetent they're closing city parks rather than addressing the rampant criminal activity destroying them.This isn't just a pandemic hangover – it's the predictable result of progressive leadership letting downtown cores become open-air drug markets while telling businesses "work from home forever." From Denver's twin towers selling for $6 million (down 90%) to Wells Fargo Center losing 76% of its value, we're witnessing the greatest commercial real estate collapse in modern history.Is anyone surprised that companies don't want their employees walking through zombie-infested streets? What did these progressive mayors think would happen when they chose criminals over taxpayers? The doom loop continues, and it's only getting worse.
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