Commercial Real Estate & Business News – July 31, 2020

Economist: Despite Nike departure, Phoenix Still Attractive For Manufacturing
Nike Inc.’s decision this week not to move forward with a planned manufacturing plant in Goodyear eliminates over 500 planned manufacturing jobs, but one economist said he expects the Phoenix metro to continue attracting manufacturing operations. “Everything we can do to get manufacturing…»
The CRE Industry Reacts to Proposed CMBS Rescue Fund
Congressional Representatives Van Taylor (R-Texas), Al Lawson (D-Fla.), and Andy Barr (R-Ky.) have officially introduced into Congress H.R.7809, which would direct the Secretary of the Treasury to stablish a HOPE Preferred Equity Facility to guarantee certain financial investments of commercial…»
Second Quarter’s Weak Retail Performance May Be Just the Start of a Rocky Year in Phoenix Some Retail Expansions Aren’t
The accelerated reopening of Arizona’s economy proved not the be the magic fix that retailers hoped for in the second quarter. The market recorded its worst quarterly performance since the end of 2018, when Sears closed multiple locations across the Valley…»
Bob’s Discount Furniture to Open Four Phoenix-area Stores
A national furniture retailer is set to open its first Phoenix-area stores starting in August. Bob’s Discount Furniture, a Manchester, Connecticut-based chain, has plans to open four Valley locations as it makes its entrance into the Arizona market. The furniture…»
Phoenix Office Market Is a Rock Through the Pandemic
The Phoenix office market hasn’t faltered yet. According to a new report from Colliers International, the office market completed its 33rd consecutive quarter of growth in the second quarter, despite the economic disruption cause by the pandemic. The market continued…»