Commercial Real Estate & Business News – August 24, 2020

Will COVID Shake Loose Large Portfolios?
As the economic ramifications of the COVID shutdowns start hitting large property owners, Michael T. Fay, principal, managing director and global head of Avison Young’s asset resolution team, wonders if bigger deals are on the horizon. “I think we’re going to see some…»

Single-family Rental Market to be Undersupplied Over Next Decade, Report Says
An expected 700,000 single-family units designed for the rental market are expected to be built nationwide over the next 10 years, but that’s still not enough to keep up with the growing demand, according to a study conducted by RCLCO Real Estate Advisors. This growing niche of…»

Retail Investment Sales Fell Drastically in the Second Quarter
Much of the retail sector was already gasping for air pre-COVID-19, with climbing retail bankruptcies and store closures. Add in a global pandemic that could permanently change how people shop, work and live, and the outlook appears even more risky for many retail real estate investors…»

Mattress Manufacturer to Hire 300 for New Factory in Goodyear’s Growing Business Corridor
Mattress manufacturer MLILY is slated to open a factory in metro Phoenix’s west side, bringing 300 jobs, by the end of the year. The factory, planned for Cotton Lane and Thomas Road in Goodyear’s rapidly growing Loop 303 business corridor, will be the Knoxville, Tennessee-based…»

Here’s Why Arizona’s Economy Will Bounce Back Faster Than Nation
While sectors of Arizona’s economy have suffered financial losses during the pandemic, the state is faring better than much of the nation, according to a leading economist. If Arizonans can stay masked, socially distanced and sanitized, it has a good chance for full recovery as soon as mid 202…»