Commercial Real Estate & Business News – April 6, 2020

Will the Governor’s COVID-19 Executive Order Protecting Renters Hurt Valley Apartment Owners?
While thousands of unemployed renters in Arizona are taking advantage of protections Gov. Doug Ducey put in place to keep them from being evicted if they can’t pay their monthly rent, their landlords are wondering just how long they’ll be able to absorb those costs…»
US Housing Deficit Could Grow Due to Coronavirus
Prior to the coronavirus pandemic, the US had a severe housing deficit. In fact, at that time, the word crisis was largely used to describe the shortage of affordable and attainable housing. While the pandemic has certainly stolen the headlines, there could continue to be a housing shortage, and the coronavirus…»
Construction Industry Braces for Disruptions as Most Projects Stay on Track
The construction industry, a cornerstone of Arizona’s economy, is one of the essential services that can continue operating under Gov. Doug Ducey’s stay-at-home order issued this week. As signs of distress are emerging for the construction industry as commerce slows, construction…»
CapRock Acquires State-of-the-art Distribution Facility in Phoenix
In a deal that bolsters its position in the strategically located southwest industrial submarket of Phoenix, California-based industrial real estate investment and development firm CapRock Partners today announced its acquisition of the newly constructed 7200 W. Roosevelt…»
ABB Leases 400 KSF Phoenix Industrial Building
Real estate investment firm Westcore has leased West80, a 400,000-square-foot industrial facility in Phoenix, to ABB Electrification. The tenant, an arm of European technology giant ABB, plans to use the building as a West Coast distribution center. Cushman & Wakefield facilitated the transaction…»