Commercial Real Estate & Business News – July 21, 2020

The Monday Morning Quarterback
I don’t plan on covering all of the Governor’s COVID-19 related press conferences. But, lastThursday’s was worth a review. The information was very helpful and the advice was not new but was certainly worth repeating. The state is starting to move…»
Opening of Mesa Luxury Apartment Project Moved Up to August
Now that pre-leasing at the Premiere at Eastmark has surpassed all estimates, Drew Olson intends to open the 216-unit luxury apartment community in Mesa in August. The $50 million development, which broke ground in July 2019, is a joint venture between…»
Phoenix Retail Market Remains Healthy Despite Impact of COVID-19
The Greater Phoenix retail market finished the second quarter with positive net absorption, despite the impact of pandemic business interruptions, according to a report from Colliers International. Vacancy remained healthy, but experts look towards…»
CMBS With Department Store Collateral Feels Coronavirus Negative Impact
The coronavirus-induced economic stagnation has led to a decline in retailers’ credit quality and has been bad news for commercial mortgage-backed securities issued for real estate with retail tenants. A Moody’s Investors Service Inc. report said…»
Lending Could Fall Almost 60% This Year, MBA Forecasts
Bankers expect commercial real estate loan originations to drop 59% in 2020 because of the economic fallout from the coronavirus pandemic. Lenders are forecast to complete $248 billion of loans backed by income-producing properties…»