June 5, 2020

Prominent Valley business and education leaders said that some positive changes have come out of COVID-19 that should help Arizona’s economy recover.  The state also is better positioned to rebound than other states because of its emphasis on attracting industry and

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Distress investors have been racing to the market in anticipation of snapping up deals. For the most part they are finding, to some chagrin, that there are little properties and loans available at deep discounts. There has been much positing about when these transactions will come

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The unemployment rate fell to 13.3% in May, the Labor Department said Friday, an unexpected improvement in the nation’s job market. Economists had expected the rate to increase to as much as 20%, after it hit 14.7% in April, which was the highest since the government began

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The delinquency rate for commercial mortgage-backed securities shot up faster than ever as the COVID-19 pandemic gripped global life. But it could have been worse, according to Trepp’s latest CMBS delinquency rate report.With stay-home orders putting many businesses in a

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In the middle of March, as Covid-19 was shutting down the U.S. economy, Hughes Marino, a West Coast commercial real estate brokerage firm based in San Diego, wrote an email to clients offering to haggle with their landlords for lower rent. The firm was ready to help companies “restructure

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June 4, 2020

Stack Infrastructure, a technology infrastructure company based in Denver, plans to build a 1 million-square-foot data center on 79 acres in Avondale. The Avondale center will be the company’s entrance into Arizona, and will be built less than half a mile from where Microsoft is developing

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The U.S. restaurant sector has sustained one of the heaviest blows during the COVID-19 pandemic as national quarantines forced the closures of restaurant dining rooms across the country. Full-service and casual-dining chains are less equipped to pivot to delivery and takeout, and many can’t

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Phoenix-based Alliance Residential Co., which is busy building more than 1,000 apartment units in metro Phoenix, has sold its property management unit for nearly $200 million to Charleston, South Carolina-based Greystar Real Estate Partners LLC. Nationwide, Alliance has more than

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The Carlyle Group made a huge splash in Mesa, acquiring four mobile home parks in the city for a total of $230 million, according to the real estate tracking website Vizzda.com. The portfolio sale consists of a total of 1,583 mobile home stalls on 187 acres, for an average of $145,293 per

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The industrial sector has fared better than other commercial property types in Phoenix, but it has not been immune to the economic disruption caused by the pandemic. Current circumstances have created both tailwinds and headwinds for the industry. A sharp rise in online orders and

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June 3, 2020

HCW, which has developed more than $2 billion in real estate in the last 23 years, in partnership with Caesars Entertainment Corporation, announced construction is currently underway for the 265-room Caesars Republic Scottsdale luxury brand hotel, and is on schedule to open in January

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The U.S. restaurant sector has sustained one of the heaviest blows during the COVID-19 pandemic as national quarantines forced the closures of restaurant dining rooms across the country. Full-service and casual-dining chains are less equipped to pivot to delivery and takeout, and many can’t survive on

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Developer George Oliver has quickly shifted its strategy on the redevelopment of the Alexander, a class-A office development in the Phoenix suburb of Chandler. The property is currently under construction, and will now reflect new needs in office space as a result of the coronavirus pandemic. The changes will

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Before the pandemic shut down businesses, a robust economy had powered a building boom, sending office towers skyward in urban areas across the United States. The coronavirus outbreak, though, has scrambled plans and sent jitters through the real estate industry. Skyscrapers scheduled to open

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The delinquency rate of U.S. commercial mortgage-backed securities recorded its largest monthly jump in May, but most industry watchers were expecting it to be worse, according to financial analysis firm Trepp. Trepp’s CMBS Delinquency Rate for May was 7.15%, a jump of 481 basis points over the April’s rate of

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June 2, 2020

Retail rents are likely to decline by 5.5% in 2020, as discretionary retailers like apparel stores, specialty shops as well as dining establishments have been pummeled by the COVID-19 pandemic, according to a new report from JLL. The company’s analysis pointed to a clear bifurcation in the retail market

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The coronavirus pandemic has boosted the business of drive-thru, quick-service restaurants, but sit-down eateries have started falling out of investors’ favor, according to two brokerage firms that specialize in the sector. In the first quarter, the national capitalization rate for single-tenant casual dining properties

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Commercial real estate price growth flattened in April as deals begun before the pandemic were completed and overall transaction volume slowed sharply, according to the latest monthly CoStar Commercial Repeat Sale Indices. The CCRSI equal-weighted U.S. Composite Index, which reflects

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National nonresidential construction spending decreased by 1.8% in April, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $801.8 billion for the month, a 0.9% increase from April 2019

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National economic upheaval and surging unemployment will push U.S. office market absorption into negative territory through the second quarter of next year. That’s according to the NAIOP Research Foundation’s Office Space Demand Forecast for the second quarter. NAIOP anticipates that the steepest

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June 1, 2020

Sagewood, a Life Plan Community featuring a resort-like setting in northeast Phoenix, has reached more than 70% in construction progress for its $100 million Phase II that includes 101 independent living apartment homes, new restaurants and community amenities. Sagewood is being developed by LCS

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The COVID-19 pandemic started to strain the housing market in April, but amid the strain prices are holding firm, according to a new research report. Data shows that housing starts declined by 30% and building permits dropped by 21%, said the report by JLL. Existing home sales

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Phoenix planning officials next week are scheduled to weigh a proposal by a real estate developer to build a single-family residential rental home project in Camelback Ranch. The Empire Group of Companies, based in Scottsdale, Arizona, filed plans in March to build 194 single-family, for-rent

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Much of the focus for modern product design is on how the next generation will embrace a product or concept. Terms like Millennial or Gen Z are thrown around when retailers talk about attracting new customers, and their needs and wants are often at the forefront

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A local developer has filed plans to build a 172-unit apartment community at the former site of a Sears Parts and Repair store in Phoenix. Moderne Living has a proposal to redevelop the almost 3-acre site as a mixed-use project called The Governor by Moderne

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