Commercial Real Estate & Business News – August 21, 2020
Pandemic Disruption Cuts Commercial Real Estate Borrowing in HalfIn a measure of how much COVID-19 has affected commercial real estate, mortgage loan origination fell 48% in the second quarter from a year earlier, according to a new report from the Mortgage Bankers Association. The primary damage came in the initial few weeks after the outbreak…» […]
Commercial Real Estate & Business News – August 20, 2020
Amazon Confirms 11 New Metro Phoenix Sites Opening This YearAmazon.Com Inc. confirmed Wednesday that it plans to open 11 new sites in the Valley by the end of the year for fulfillment and delivery operations. The new sites include seven delivery stations and two additional facilities to support fulfillment, in Avondale, Chandler, Goodyear, Mesa…» Arcadia […]
Commercial Real Estate & Business News – August 19, 2020
Report: Metro Phoenix Will See a 37% Drop in Apartment ConstructionNationwide, multifamily construction is in its second consecutive year of decline after peaking in 2018. This year, an estimated 283,000 new units are expected to hit the market, 12% less than in 2019. Here are the highlights for Phoenix Metro: Phoenix Metro area is set […]
Commercial Real Estate & Business News – August 18, 2020
Despite a Steep Drop in Volume, Industrial Remains the Shining Star of the CRE UniverseThe industrial sector has been deemed one of the top performing commercial real estate asset classes, due to low vacancy rates, rising rents in some markets and positive net absorption. But despite solid fundamentals, investment sales volume in the sector…» Multifamily […]
Commercial Real Estate & Business News – August 17, 2020
EOS Fitness Reopening After Reaching Agreement with AZDHS, DuceyPHOENIX – EOS Fitness announced they will reopen Arizona locations starting Saturday at 8 a.m. for workouts by reservation. In an e-mail to members, EOS Fitness’ CEO Rich Drengberg said they came to a reopening agreement with Gov. Ducey and the Arizona Department of…» Commercial Real Estate […]
Commercial Real Estate & Business News – August 14, 2020
Hotel Developer WaterWalk Buys North Phoenix Site for First Arizona LocationA developer of high-end extended stay hotels bought 4.5 acres of land in north Phoenix to develop the company’s first Arizona hotel property. WaterWalk, which is headquartered in Wichita, Kansas, purchased the development site at 19th Avenue and Pinnacle…» New Fry’s Grocery Store Opening in […]