Commercial Real Estate & Business News – April 27, 2020

Arizona Tech Employment Grows by 8,000 Net New Jobs
Information technology (IT) employment in Arizona grew by estimated 8,000 net new jobs in 2019, capping a decade in which the state’s tech-related labor force expanded by more than 52,400 workers, according to Cyberstates 2020™, the definitive guide to the U.S. tech industry, occupations…»

Phoenix Players Craft A Game Plan To Bring Downtown Back To Life
In a decade, downtown Phoenix has transformed from a virtual ghost town to a must-see destination. To capitalize on a dense population of finance, technology and tourism jobs in the area, between 2010 and 2020 locally owned entertainment venues like Charlie Levy’s The Van Buren…»

Fundamental Income Launches New Net Lease Platform with $500M Commitment
Fundamental Income has debuted a new net lease platform called Fundamental Income Properties. The platform received an initial equity commitment of $500 million from a fund managed by Brookfield Asset Management. The founders of Fundamental Income, Chris Burbach…»

NMHC: Rent Payment Rate Rises to 95% of Previous Month
According to the National Multifamily Housing Council’s third weekly Rent Payment Tracker report, 89% of market-rate multifamily households had made either a full or partial April rent payment by April 19, up 5 percentage points from April 12. The April data reflects a 95% rent payment…»

For Apartment Landlords, May Could Be the Real Test
Despite reports of solid rent collection this month, apartment landlords are bracing for big headaches come May.Many renters got creative to pay April’s rent. They dipped into savings, used credit cards and took government assistance. Landlords, meanwhile, offered deferments and payment plans…»