Commercial Real Estate & Business News – April 13, 2020

Restaurants Account for the Majority of Rent Relief Requests
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…»
Apartment Landlord Gives $5M to Struggling Renters
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…»
With Stores Closed, Can E-Commerce Make Up for Lost Sales?
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…»
March Unemployment Numbers Are ‘Tip of the Iceberg’ Valley Economist Says
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…»
Federal Reserve Unveils Details of $2.3 Trillion in Programs to Help Support the Economy
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…»