Commercial Real Estate & Business News – April 1, 2020

As April Rents Loom, Phoenix Real Estate Leaders Grapple with Potential Losses
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…»
How Innovation Zone Could be an East Valley Game-changer
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…»

Do Recent Interest Rates Cuts Portend a Refi Windfall? Maybe Not
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 and Publix, Landlords as Well as Grocers, Waive Rent to Businesses Hit by Coronavirus
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 Banks Agree to Ease Foreclosures and Evictions, Provide Relief to Borrowers and Small Businesses
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…»