April 9, 2020

A major U.S. apartment landlord with complexes across the Valley offered $5 million in assistance Monday to residents struggling financially during the coronavirus crisis. It was snapped up in 16 minutes. The $2,000-per-person donations went to more than 2,500 tenants around

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As April rent has come due, rent relief requests have started to roll in. Restaurants have accounted for the majority of these early requests, according to Gary Glick of Cox, Castle & Nicholson. This is particularly noteworthy, considering that many retail owners have favored restaurant tenants

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The COVID-19 pandemic has forced discretionary retailers to temporarily shutter stores around the U.S. to help stop the spread of the virus. Desperate times call for desperate measures, and to make up for lost in-person sales, retail chains have been trying to push consumers to shop online through

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The U.S. reported the loss of 701,000 jobs in the month of March on Friday. That metric is the worst in a single month since the Great Recession in 2009 and comes as a result of the coronavirus outbreak throughout the country. “The unemployment numbers today are kind of meaningless

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The Federal Reserve on Thursday announced a bevy of new moves aimed at getting another $2.3 trillion of financing into businesses and revenue-pinched governments. Stock futures jumped after the announcement, which came moments after the government reported that 6.6

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April 8, 2020

In the age of the coronavirus and until the curve flattens, there will temporarily be less demand for medical retail outpatient settings. Guidance from state and local governments indicating when healthcare workers can resume non-essential, non-emergency services will dictate the pace of short-term

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SkySong, The ASU Innovation Center, is now home to a company on the front lines of the fight against the COVID-19 virus. Banner Innovation Group, a department within Banner Health focused on purposeful and disciplined innovation, has leased a new space

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Nearly a month has passed since the COVID-19 pandemic brought the sports world to a halt. Every active league postponed or canceled seasons, including Major League Baseball. But MLB is working on a plan to reboot the sport in a move that will be judged bold or foolish

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The number of households who paid rent during the first five days of April plunged 12 percentage points from the same period in March, according to an apartment industry survey that offers further evidence of the economic toll that coronavirus is taking on US families

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The National Multifamily Housing Council (NMHC) has introduced a new weekly data metric, the NMHC Rent Payment Tracker, to follow rent payment dates for 13.4 million housing units across the country. This metric arrives as COVID-19, shelter-in-place orders, and record unemployment are expected to make rent

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April 7, 2020

ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released a Special Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact

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Commercial landlords must stop evicting small businesses that can’t pay rent during the coronavirus pandemic, Arizona Gov. Doug Ducey ordered Monday, a move entrepreneurs around the state have petitioned for since shutdowns were ordered. Commercial landlords are directed

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April 1st has come and gone. Exact numbers are spotty, but commercial owners are reporting that some tenants have not yet paid rent for the month—including as many as 50 percent of small businesses. That’s pushing tenants and landlords to the bargaining table to negotiate rent

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A lot of people are making predictions about how daily life will morph once the stay-at-home and social distancing orders brought by COVID-19 pass. Charles Hewlett, managing director, director of Strategic Planning and Litigation Support for RCLCO, agrees that long-lasting changes

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The economic downturn resulting from the novel coronavirus has put some Valley land deals on ice, but some industries are still moving forward with land purchases and expansions. Anita Verma-Lallian, co-founder of SLM Land Land Holdings and marketing director for her family’s

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April 6, 2020

The construction industry, a cornerstone of Arizona’s economy, is one of the essential services that can continue operating under Gov. Doug Ducey’s stay-at-home order issued this week. As signs of distress are emerging for the construction industry as commerce slows, construction

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The Phoenix area led the nation in year-over-year apartment rent growth through March, according to a report that covers the key period that came to a close just as coronavirus-prevention efforts were taking hold in Arizona. Valley rents jumped by 7.6% over March 2019, according

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New York Gov. Andrew Cuomo (D) suggested Monday the state may have flattened the curve of the coronavirus outbreak, but it is too soon to tell. Deaths related to COVID-19, the disease caused by the new coronavirus, have stayed flat for two days, he said, while the total number of new hospitalizations

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For many real estate firms, the passage of Coronavirus Aid, Relief, and Economic Security Act (CARES), a more than $2 trillion economic stimulus designed to help bolster the United States economy, brought some good news in an otherwise terrible month. One real estate executive

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The good news for the hospitality sector is that occupancy rates likely won’t fall in the coming weeks. But that’s only because occupancies have already dropped so low. Less than a quarter (22.6 percent) of the hotel rooms in the U.S. were occupied in the week ending March 28, according

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April 3, 2020

While thousands of unemployed renters in Arizona are taking advantage of protections Gov. Doug Ducey put in place to keep them from being evicted if they can’t pay their monthly rent, their landlords are wondering just how long they’ll be able to absorb those costs

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Prior to the coronavirus pandemic, the US had a severe housing deficit. In fact, at that time, the word crisis was largely used to describe the shortage of affordable and attainable housing. While the pandemic has certainly stolen the headlines, there could continue to be a housing shortage, and the coronavirus

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The construction industry, a cornerstone of Arizona’s economy, is one of the essential services that can continue operating under Gov. Doug Ducey’s stay-at-home order issued this week. As signs of distress are emerging for the construction industry as commerce slows, construction

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In a deal that bolsters its position in the strategically located southwest industrial submarket of Phoenix, California-based industrial real estate investment and development firm CapRock Partners today announced its acquisition of the newly constructed 7200 W. Roosevelt

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Real estate investment firm Westcore has leased West80, a 400,000-square-foot industrial facility in Phoenix, to ABB Electrification. The tenant, an arm of European technology giant ABB, plans to use the building as a West Coast distribution center. Cushman & Wakefield facilitated the transaction

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