Commercial Real Estate & Business News – July 28, 2020

Get Ready for the Fed to Go Again
It is challenging to keep up with where the fiscal authorities stand with respect to the renewal of emergency unemployment benefits, the extra $600 a week that you’ve heard us talk so much about. As of this writing, the estimates range from $0 to $300 a week…»
Retail REITs Continue Their Rent Collections Surge
Buoyed by continuing retail re-openings nationally, rent collections for free standing and shopping mall-focused REITs trended upwards in July after gains in June. The trend was highlighted in the fourth monthly survey of REIT rents across six property sectors…»
California Developer ‘Betting Big’ on East Valley Office Market
Now that construction work on two speculative office buildings is underway in Chandler, a rarity in the Valley since the outset of the coronavirus pandemic, California developer Douglas Allred Co. is “betting big” on the region’s office market remaining…»
CIM Group Lines up $96M Loan for Galleria Corporate Center
CIM Group has come through with financing for Stockdale Capital Partners’ Galleria Corporate Center, an approximately 550,000-square-foot creative office property in Scottsdale, Ariz. CIM Group provided the borrower with a $95.6 million bridge loan for the…»
Why Mall Landlords Are Turning Empty Anchors into Fulfillment Centers
Beleaguered retailer Sears plans to close its store at Morgantown Mall in Morgantown, W.Va. before the end of this year, leaving an 80,000-sq.-ft. space without an anchor. But in a move that would have been unimaginable in the heyday of traditional retail in general and Sears in particular…»