Have a Happy and Safe 4th of July Weekend!
| Value of Phoenix-area Construction Starts Drops in May Nearly $891 million worth of residential and nonresidential construction projects began in the Phoenix area in May, a 19% drop from May 2019, when the region’s economy was full speed ahead and $1.1 billion worth of construction projects started…» |
| $60M Aviation Project Breaks Ground in Mesa Opportunity Zone Nearly 400,000 square feet of hangar and office space has begun construction in the City of Mesa in a push to keep going during a corona-induced economic downturn. The worldwide pandemic has halted many industries, but construction…» |
| No To Hospitals: Survey Finds Patients Are Seeking Other Health Care Facilities During Pandemic Patients are wary of seeking health care at hospitals and prefer to travel to off-campus facilities for treatment in light of the COVID-19 pandemic, according to a new report released this week. Health care real estate REIT Physicians Realty Trust…» |
| Mall Battle: Are Indoor Or Outdoor Shopping Areas Weathering the Pandemic Better? A sharp decline in consumer traffic for indoor malls, and a slightly less impactful reduction in outdoor mall traffic, hit retailers hard during the pandemic, but it wasn’t enough to knock either medium down for the count, a new study from consumer data analytics company…» |
| Largest US Banks Face $48 Billion Commercial Real Estate Loan Loss, Fed Says The nation’s largest banks are facing a possible $47.6 billion loan loss on commercial real estate over the next two years in the worst-case scenario for economic fallout from the coronavirus, according to the latest stress test results from the Federal Reserve…» |