Commercial Real Estate & Business News – April 7, 2020

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…»
Valley Apartment Rent Growth Led Nation in March, Just as Coronavirus Hit
The Phoenix area led the nation in year-over-year apartment rent growth through March, according to a report that covers the key period that came to a close just as coronavirus-prevention efforts were taking hold in Arizona. Valley rents jumped by 7.6% over March 2019, according…»
Cuomo: ‘Good Signs’ Suggest ‘Possible Flattening of Curve’ in NY
New York Gov. Andrew Cuomo (D) suggested Monday the state may have flattened the curve of the coronavirus outbreak, but it is too soon to tell. Deaths related to COVID-19, the disease caused by the new coronavirus, have stayed flat for two days, he said, while the total number of new hospitalizations…»
CARES Act is a “Game Changer” For One Real Estate Firm
For many real estate firms, the passage of Coronavirus Aid, Relief, and Economic Security Act (CARES), a more than $2 trillion economic stimulus designed to help bolster the United States economy, brought some good news in an otherwise terrible month. One real estate executive…»
Hotel Occupancies Have Cratered. What Happens Next?
The good news for the hospitality sector is that occupancy rates likely won’t fall in the coming weeks. But that’s only because occupancies have already dropped so low. Less than a quarter (22.6 percent) of the hotel rooms in the U.S. were occupied in the week ending March 28, according…»