Commercial Real Estate & Business News – July 20, 2020

Old Town Scottsdale’s Newest Hotel Expected to Open in September
For the first time in more than 10 years, a new-build hotel is set to open in Old Town Scottsdale.The Canopy by Hilton Scottsdale Old Town is expected to open its doors in late September. The seven-story hotel, on the northeast corner of First Street and Marshall Way, will have 177 rooms and suites…»
New Experiential Office Buildings Like CASA Continue to Lease
While a COVID-stricken economy has halted many large metro Phoenix leases, mid-size deals continue to make a significant impact at experiential projects like CASA, George Oliver’s Class A creative office redevelopment in Phoenix’s popular Uptown neighborhood.In the span of a few months, the 181,000…»
Mesa’s Downtown Opportunity Zone Lands Coworking Giant Launch Pad
Launch Pad, a national network of coworking spaces that targets communities in opportunity zones, is coming to historic downtown Mesa.The coworking giant lures freelancers, entrepreneurs and startups with low monthly leases and high tech modernized spaces in “momentum markets,” said Anne Driscoll…»
The Disappearing Small Business Tenant
To state the obvious, small businesses are in peril from the pandemic. Millions of small businesses have been forced to close their doors since March and now, new figures from Goldman Sachs suggest that more closings are likely if Congress doesn’t act with further relief. It found that 84% of Payroll Protection Program…»
Smaller U.S. Cities Have Become Real Estate Hot Spots, and Interested Buyers Should Act Quickly
The Covid-19 pandemic has motivated many American buyers to turn from dense urban centers to smaller cities and suburbs. Busy high-rise apartment buildings and cramped square footage have lost their luster, as city dwellers who have been living under lockdown seek out more space and security. Moreover…»