As April 1 approaches and some Valley businesses have gone two weeks without normal business operations, property managers and landlords in the region are grappling with the possibility that many tenants will not be able to make rent.“ Let’s start planning on April rent being a challenge
Steve Jobs once said, “Innovation distinguishes between a leader and a follower.” Arizona State University has emerged as a leader in research and innovation — U.S. News and World Report has ranked ASU as the most innovative university in the nation for five straight
Commercial real estate borrowers who were hoping to capitalize on dramatic Fed rate cuts and a drop in the 10-year Treasury to refinance loans at record low rates may have missed their window of opportunity—at least for now. Borrowers that were able to move quickly
Walmart, the world’s largest brick-and-mortar retailer, and Publix, the third-largest grocery chain in the United States, are giving breaks on rent to tenants within their store and strip-mall properties suffering from dramatic drops in business caused by new coronavirus-related closings
Arizona Gov. Doug Ducey and many of the state’s leading banks announced on Monday an agreement to delay housing foreclosures and evictions while providing loans and other assistance to small businesses stressed by the coronavirus outbreak. Most banks operating
As non-essential businesses are forced to close doors, some retail and e-commerce firms are ramping up hiring and operations in order to meet a surge in demand for necessities and home deliveries. “There’s certainly good news and bad news happening in retail
Phoenix is still early in its growth cycle, and most commercial real estate players had believed the market had a long runway because it was late to recover from the last recession. However, Thomas Brophy of Colliers International, says that the job diversity gained in recent years
In Arizona, many large-scale construction projects are currently underway and any stoppage in work will have a ripple effect throughout the economy.” As a business, we are going to continue our work. We are going to do our individual part well because it matters to the whole,” said Brian Murray, CEO
AZRE magazine features six “New to Market” projects to watch and that you need to know about. If you know of a significant project that will be completed or will break ground in Arizona soon, then submit your project submissions to AZRE Associate
As cases of Covid-19 surge, financial markets have nosedived — a fate that has not escaped public real estate investment.Industry experts say some investors are trying to turn lemons into lemonade, hunting for opportunistic plays. But others note that negative sentiment
Maricopa County continues to be the fastest-growing county in the nation for population, according to the U.S. Census Bureau. Many leaders in the area have pointed to our technology ecosystem as the key catalyst for this growth. As a state, we are outpacing some of the nation’s largest technology
Walt Brown, founder and CEO of Diversified Partners, a Scottsdale-based real estate brokerage and development company, announced the groundbreaking of its large, prime parcel known as En Fuego, at 91st and Glendale avenues. The groundbreaking ceremony
Developer Banyan Residential broke ground on Scottsdale Entrada, a 33-acre project that is expected to be one of the largest mixed-use developments in Scottsdale, Arizona, when it’s finished in late 2022. The $300 million project at the northeast corner of 64th Street and McDowell
The North Phoenix business and residential communities will get a chance to review a rapidly changing 19th Avenue corridor April 21. The meeting will be open to the public and held at the Open Door Fellowship Church auditorium on 19th Avenue and Butler Road. It aims to give everyone
Arizona renters and landlords are both struggling to find out what a new executive order to delay evictions due to the coronavirus means for them. Gov. Doug Ducey issued a 120-day order on Tuesday delaying the enforcement of evictions for renters impacted by COVID-19
Michael Levitt, a Nobel laureate and Stanford biophysicist, began analyzing the number of COVID-19 cases worldwide in January and correctly calculated that China would get through the worst of its coronavirus outbreak long before many health experts had predicted. Now he foresees
With the need for medical services on the upswing and an increased overall preoccupation for wellness, communities across the nation have been looking for solutions to bring health-care services more within their reach. For a growing number of mixed-use developments, medical offices are becoming
North America’s highest-rated commercial real estate companies probably won’t have to shutter their doors due to fallout from the coronavirus, but a great percentage will have to brace for setbacks, according to new commentary from DBRS Morningstar. In the commentary, entitled The Impact
The novel coronavirus has made a significant impact on the real estate industry. However, despite this ongoing outbreak, rents increased 3.2 percent in February on a year-over-year basis, matching the previous month‘s growth rate, according to a Yardi Matrix survey of 127
CoStar Group, a provider of information and analytics for the multifamily and commercial real estate industry, is trying to stay ahead of the curve of what’s coming down the road for multifamily investors. The firm and STR, its hospitality data and analytics arm, recently issued some preliminary findings predicting
Representing the last full month before the coronavirus became a global pandemic, February saw the third consecutive month of year-over-year increases in U.S. home sales – a streak not seen since 2015. At the same time, inventory across the report’s 53 metro markets plunged 15.8%, marking the fourth
Some investors are seeing opportunity in the current state of the market. Specifically, long-term private investors are seeing a potential pricing adjustment and opportunity for portfolio growth. Atlas Real Estate, a firm focused on providing financial autonomy to private investors through real estate investment
General contractor Hensel Phelps in February broke ground on Derby Roosevelt Row, Metro Phoenix’s first “small unit” apartment development. Located in the highly sought-after Roosevelt Row Arts District, Derby Roosevelt Row 800 E. 2nd St., will be a 21-story high-rise featuring 222 residential
Even though Arizona’s tourism industry is struggling to cope with the unprecedented current health crisis, the industry boasts a wow factor that will bring it back quickly and better than ever.And numbers don’t lie. Last year, Arizona hotels and resorts hosted more than 45.5 million overnight visitors
More Phoenix-area renters struggling to avoid eviction during the coronavirus crisis will get automatic reprieves. Other Valley renters who can’t make their payments because they are sick or their incomes have dropped can request court delays or telephone