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Commercial Real Estate & Business News – April 23, 2020

Arizona Economy: ‘Once We Get Past the Shock, Recovery Should be Solid’
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…»
Economic Council Leader Says Arizona Stands to Benefit After Virus Clears
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 Facilitates Phoenix Retail Transaction
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…»
Here’s How CRE Lending is Shifting Due to Coronavirus
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…»
Got a PPP Loan? Here’s How to Make Sure You Get Loan Forgiveness
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…»