They are buying NNN single tenant or NNN multitenant retail properties in TX, OK, SC, NC, GA, FL, AL, TN - the states to which the population is migrating and that have business/real estate friendly governments and lower taxes. 

In addition lower rents will decrease the value of a property, not necessarily its appraised value, because no buyer will desire to pay retail for properties with reduced cash flow.

My company owns about 3,000 MF units, along with some retail, industrial, and Assisted Living. 

I paid cash and roughly 25% of retail value. 

Just decided to get back into retail real estate too so, back helping fellow investors and Home Owners acquire property along with my own projects this should be fun lol.

Turn around and sell for full retail and at 9.9%.

As an investor, I don't believe in ever paying retail.

It's hard for me to imagine suburban office / retail getting hit harder than it already has, and a small building for small companies in the services field feels interesting to me - right now that's a "Feel" and I have to wrap my head around whether data supports this hunch or not, but I do at the very least like the fact that office has been hit so hard, and seems to have no net new supply coming online. 

Sell before completion, sell retail, sell owner finance, refi and rent, etc.

That's why I think investors are not your friend, you want retail buyers.Have you talked to the neighbors on all sides of you?