Commercial Real Estate & Business News – December 23, 2020

How the Latest Stimulus Impacts Renters and Homeowners
A second round of stimulus checks will be sent directly to citizens beginning next week, according to Treasury Secretary Steven Mnuchin. The $900 billion stimulus package negotiated by Congress over the weekend will include $600 individual stimulus checks for those making under $75,000, $300 a week of extra…»
REITs Gained Slightly Last Week
REIT share prices rose slightly during the week ended December 18, with the FTSE Nareit All Equity REITs index posting a weekly total return of 0.5% and a year-to-date return of -6.9%. Broader equity markets performed better, with the Russell 1000 posting a 1.7% total return for the week…»
Why You Shouldn’t Fret About Rising Apartment Vacancies
National apartment vacancy rates are rising, but a new multifamily report from Moody’s Analytics REIS says that the higher rate isn’t a concern. This year, the multifamily vacancy rates increased 30 basis points to 5%, but they remain well below the long-term average vacancy rate of 5.2% to 5.4%…»
Scottsdale Homebuilder Pays $47M for Large West Valley Parcel in State Land Auction
Shea Homes was the winning bidder on Dec. 16 of a 415-acre parcel of state trust land in the West Valley. The homebuilder was the only bidder at the Arizona State Land Department auction, taking the property for the minimum bid of $46.77 million. Scottsdale-based Shea Homes already has built two…»
Arizona Changes Covid-19 Standards, Averting Business Closures
As Covid-19 cases continue to surge in Arizona, State Health Director Cara Christ recently made a change to the state’s risk benchmarks that keep businesses like bars, movie theaters and gyms open even when the counties where they are located have a substantial risk of spread, according…»