DAILY TOP 5

A sustainable building manufacturer that creates modular homes, apartments, hotels and other buildings plans to open a Phoenix-area factory in 2021. During the next two months, S2A Modular plans to close on land to build a $25 million Valley facility along with factories in several other metros

The world’s first-post-car real estate developer, Culdesac, today announced tenant interest is above projections at this time. Culdesac has secured its waitlist for Phase 1 with 136 people (a waitlist for 21% of its total rental units) indicating strong demand for the car-free neighborhood and lifestyle

The 30-year mortgage rate hit a historic low this year, but could 2021 bring an even lower rate? Fannie Mae’s economic and strategic research group thinks the average rate for a 30-year, fixed-rate mortgage will hit 2.9 percent in 2021. The government-sponsored mortgage loan entity is forecasting

As some companies laying off or furloughing employees and Arizona set a new one-day record for the number of jobless claims filed, some companies in Arizona are still hiring. Here’s a list of companies in Arizona that have said they are hiring during the coronavirus outbreak

As with the March Interim forecast, there is still a huge amount of uncertainty about the future of the outbreak and the economic impacts on the Arizona economy associated with it. Regarding the outbreak, the question at this point is when government and self-imposed social distancing

Greater Phoenix Economic Council President and CEO Chris Camacho says the first round of the federal payroll protection program kept about 19,000 Arizona small businesses afloat with almost $5 billion in loans. The coronavirus pandemic has brought much of the Arizona

ORION Investment Real Estate has arranged the $5.5 million sale of The Shoppes at Higley Village, a 24,580-square-foot retail center in Mesa, Ariz. Vice President Derek Buescher assisted the seller, Stratis-Mesa Properties. A private investor acquired the asset in a 1031 exchange deal

It seems that there has been a shift in the past week from a focus on flattening the curve to how we begin to open up society and the economy again. Although there may be some signs for optimism given the recent stock market rally and new medical data suggesting the infection rate is slowing

Nearly 20,000 Arizona businesses have received Paycheck Protection Program loans collectively worth $4.85 billion during the first round of funding. And most of that money could be forgiven under the terms of the loans if the recipients follow certain rules over the next eight weeks. Getting that forgiveness

With a host of commercial real estate owners likely to declare chapter 11 bankruptcy as a result of the coronavirus pandemic, organizations that lend to these companies should keep one thing in mind: bankruptcy court judges are aware of the unprecedented economic damage of COVID-19

With all but the most essential small businesses shut down, vast numbers of commercial and multifamily tenants unable to pay rent and no clear date for when the U.S. economy might re-open, it would be easy to assume that commercial real estate investors would opt to sit on the sidelines

In an effort to ease the burden caused by COVID-19 to both apartment renters and owners, the CARES Act offers loan forbearance on federally backed mortgages to multifamily owners who suspend evictions for their tenants. In its own response to the coronavirus pandemic

Class-C apartment tenants have been badly hurt by the economic shutdown precipitated by the novel coronavirus, crushing their ability to pay rents, thereby putting strain on those properties’ owners to continue to cover costs and mortgage payments. More than 22 million

Aside from the nation’s hospitals, no other sector has been on the front lines as of late than food retailers. Yet, even in the face of a pandemic, independent retailers have found that the well-honed, tried-and-true tactics that have helped them excel or compete against larger competitors

Holualoa Companies has enjoyed a strong first four months of the year despite recent economic challenges, closing on several key transactions in Arizona. The company sold several properties in Phoenix and Tucson over the past few months and signed a significant

There is a lot of competition among Phoenix-area grocery stores, and though Fry’s Food Stores is still the king with nearly $3.84 billion in local sales in 2019, retail giant Walmart Inc. (NYSE: WMT) made significant gains during the past year. Fry’s, which is owned by Cincinnati

The Phoenix office market experienced a record-breaking previous year in 2019 that featured significant relocations and expansions to the region, and further continued to hold strong in the first quarter, according to a report from Kidder Mathews. However, the quarter ended with an unprecedented disruption

With COVID-19 turning home into the workplace nationwide, the personal-finance website WalletHub today released its report on the Best States for Working from Home, as well as accompanying videos, in order to highlight which areas are thriving and which are struggling in this pandemic

Last month was the best March for new home sales in the Phoenix area since the boom of 2005, so it will take a while for that momentum to cool. But homebuilding in metro Phoenix is bound to slow along with the rest of the economy due to the COVID-19 pandemic. Fewer potential buyers

The economic damage caused by coronavirus shutdowns is uncommon. So economists say they will need uncommon data to track how the nation rebounds. Normally, these experts use high-level metrics such as the gross domestic product and bond yield curves to

Break out the popcorn. As the country takes the first baby steps back from the coronavirus shutdown, movie theaters could be one of the early beneficiaries. Cinemas would be allowed to reopen in the first of three phases under the guidelines released Thursday by the White House.

Despite the economic downturn, work has continued throughout the revitalized Park Central project over the past few weeks, with several significant milestones achieved. Construction on the new Creighton University Health Sciences Campus is well underway, and the new 2,000-space

Phoenix Mayor Kate Gallego said Tuesday that the city will put all returns it earns from city real estate transactions into its general fund during the pandemic. That includes $6.8M of transactions that originally came from the fund and will now be used to offset a budget deficit

Amid the coronavirus many property owners are struggling and in need of a capital infusion. Gregory Freedman, a co-founder of real estate investment firm BH3, thinks opportunistic debt funds could provide an answer. “There are certainly opportunities to get capital out there, which