CASE’s Shlomo Chopp on the “New Graves” Emerging Across Commercial Real Estate
CASE Managing Partner Shlomo Chopp has emerged as one of the more outspoken voices challenging long-held assumptions around “safe” hard assets, arguing that technological disruption and rapidly changing tenant economics are accelerating obsolescence across sectors once viewed as durable.
In his recent piece, New Graves to Dance On, Chopp draws parallels to Sam Zell’s “grave dancer” investing philosophy, contending that today’s opportunities and risks stem less from cyclical downturns and more from collapsing business models hidden beneath seemingly stable properties.
Chopp offers a perspective on where cracks are emerging across office, retail, industrial and even data center real estate. He discusses how investors should rethink underwriting, why AI-driven demand may not be as durable as markets assume, and where the next distressed opportunities could emerge.