If landlords can’t pay back loans on office buildings, the lenders will suffer. Some banks are trying to avoid that fate.
Hard times are likely ahead for a lot of people. Mind your expenses and plan to save where possible just in case. Apologies for having a doomer outlook; I’m very cynical about capitalism, especially in the USA.
I’ve seen estimates that it’s frequently cheaper to demolish the building and build a new one.
That may be true depending on the extent of remodeling necessary. Do that and make it a green building with modern heat pump and you could make a profit in a few years. But they want the profit now