Commercial Real Estate & Business News – August 17, 2020

EOS Fitness Reopening After Reaching Agreement with AZDHS, Ducey
PHOENIX – EOS Fitness announced they will reopen Arizona locations starting Saturday at 8 a.m. for workouts by reservation. In an e-mail to members, EOS Fitness’ CEO Rich Drengberg said they came to a reopening agreement with Gov. Ducey and the Arizona Department of…»

Commercial Real Estate Deals Increase Amid COVID Impact, NAIOP Says
In the fourth monthly NAIOP survey measuring the impact of the COVID-19 crisis on the commercial real estate industry, respondents say that deal activity is improving across most major sectors of the industry, but more now expect impacts from the crisis to affect their businesses…»

Texas Metal Producer Plans $300M East Valley Mill
Commercial Metals Co., an Irving, Texas-based steel and metal product manufacturer and recycler, announced plans Thursday to build the company’s third “micro mill,” which will be located in Mesa. “We are excited by the tremendous promise of CMC’s third micro mill,” Barbara R. Smith…»

VanTrust Real Estate Acquires 76.4-Acres Along Loop 303 in Glendale, 660K Square Feet of Industrial Planned
With development plans already underway for major projects throughout Arizona, VanTrust Real Estate recently acquired 76.4-acres of land at Sarival Road and Maryland Avenue strategically located along the Loop 303 corridor in Glendale, Arizona. VanTrust plans to break…»

Yardi: Multifamily Rents Rose $2 in July; YOY Growth Stays Negative
The national average multifamily rent rose by $2 to $1,460 in July, ending four months of consecutive declines following the start of the COVID-19 pandemic and recession. Year-over-year rent growth remains negative at -0.3%, unchanged from June…»