Commercial Real Estate & Business News – July 9, 2020

The Office Is Not Dead-Just Evolving-and Definitely Here to Stay
The current unprecedented pandemic has impacted many facets of the real estate landscape, and the office sector will be no exception. The severity and direction of these implications will vary based on the time horizon (short-, medium-, or long-term)…»
Phoenix Office Market Virtually Unchanged in Second Quarter, But Virus Disruption Imminent
Vacancies edged up in the second quarter as new space delivered amid nearly flat office demand. The Phoenix office market was somewhat resilient in the second quarter, as there has been no mass exodus of office tenants. But the coronavirus has disrupted the…»
Los Angeles Investor Expands Phoenix Portfolio With $30.7 Million Acquisition
Los Angeles-based Cohen Asset Management has purchased a fully leased distribution building in West Phoenix from Kansas City Life Insurance Co. for $30.7 million, or about $94 per square foot. The 325,800-square-foot facilityat 7400 W. Buckeye Road is occupied by…»
Phoenix Hotel Market Diversity Is Good News for Recovery
The pandemic struck at the worst time for the Phoenix hotel market-during spring training and snowbird season. As expected and much like the rest of the country, the event devastated Phoenix hotel performance-but there is hope. While these two tourist groups…»
How Commercial Real Estate in Metro Phoenix is Faring During COVID-19 Pandemic
The commercial-property market around metro Phoenix held a lot of favorable cards heading into this year.Job growth was high, people continued to flock to Arizona, interest rates were low and significant warning signs of overbuilding weren’t on the horizon. Then the new…»