Commercial Real Estate & Business News – April 29, 2020

Ducey’s Challenge as Deadline Nears: Balancing Public Health with Economy’s Amid Pandemic
As Arizona’s stay-at-home order rapidly nears its Thursday expiration date, Gov. Doug Ducey has remained tight-lipped about his plans for the sweeping restrictions that have devastated the state’s economy in the name of public health. Business owners, however, have…»
Taking Action Against the Affordable Housing Crisis
A minimum wage employee must work 54 hours a week to afford a one-bedroom apartment in Maricopa County. In Arizona, 78 percent of low-income families are severely cost-burdened by rent. What this means is that after spending 30 percent or more of their income on shelter, they will…»
Report: 33% of LA Apartment Hunters Looking to Move to Other Cities
The coronavirus pandemic hasn’t stopped a considerable number of apartment hunters in Los Angeles from searching for a new home in other cities, according to a new report.Renter search data compiled by Apartment List, an online rental platform, shows 33% of its L.A. users looking for a new apartment are searching for listings…»
Land Advisors Predicts Heightened Awareness for Healthcare in Phoenix
Land Advisors Organization recently launched a dedicated healthcare advisory group just in time for what will likely be a boost in healthcare activity. According to the firm, the pandemic will give a greater priority for healthcare needs throughout the region. As a result, the firm expects more hospital…»
Metro at Zanjero Apartments Sell for $55.4M
CBRE has arranged the sale of the 253-unit multifamily community Metro at Zanjero on behalf of Private Portfolio Group to San Diego-based Sunroad Enterprises for $55.4 million. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties…»