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Businesses are experiencing high vacancy rates in the u.s. nearly 19%. 5.5% higher than before the pandemic. i think it s a very unique moment. nothing like any disruptive marketplace that i have experienced over the past 40 years. the pandemic emptyied offices around the country the number of people returning to in-person is less than 50% in ten major metro areas forcing companies to rethink physical office space. half of the biggest global companies say they will need less real estate in the next three years leaving landlords with loans to pay in a bind. if there s no tenant, you re not make ing money. there s no recooping lost income for down time. reporter: steven runs the leasing a at new york city s largest commercial landlord with more than 30 million square feet of space to rent, the collapsing demand for office space means their vacancy rate shot up from 3% pre-pandemic to 10% today. ....
Outsource that portion of the business. reporter: within months of her 2009 launch, she had a hiccup with the embroidery company. it quit. when the embroidery company backed out, what was the first thing you did? i mean, words that i can use on television are i really panicked. my first thought was, let s replace the partner. i realized, you know what? we should just bring it in house. reporter: doing the sewing herself, leasing a $15,000 embroidery machine. all of a sudden we were starting two businesses instead of one. we were starting an online retailer which i sort of know how to do and starting an embroidery provider which i knew nothing about at all. reporter: she says this was the best thing for mak-a-boo. in hindsight there s no way we could do what we do not doing the embroidery on ourself. it s always on our watch. reporter: to keep growing, cindy s used groupon and even gone hollywood. we ve joined a celebrity ....
It quit. what was the first thing you did? i mean, words that i can use on television are i really panicked. my first thought was, let s replace the partner. i thought, just bring it in house. reporter: doing the sewing herself, leasing a $15,000 embroidery machine. suddenly we were starting two businesses instead of one. an online retailer which i sort of now how to do and an embroidery provider which i knew nothing about at all. reporter: she says this was the best thing for mak-a-boo. in hindsight there s no way we could do what we do not doing the embroidery on ourself. it s always on our watch. reporter: cindy uses groupon and even gone hollywood. we ve joined a celebrity gifting program so when new babies are born in hollywood to celebrity parents we send mak-a-boo gifts to them. i cannot imagine having a day ....