Commercial Real Estate & Business News – June 15, 2020

Forecasting Arizona’s Economy: The Case for a V-shaped Rebound
Even though the Grand Canyon State experienced record-shattering job losses and economic contraction during the pandemic, there’s hope the pain will be short-lived. Strong underlying fundamentals, an influx of stimulus money and ASU’s support for innovation could help stave off an extended recession…»
Survey: Business Leaders Want Valley’s Economy to Phase in Gradually
Just over three-quarters of business owners and executives in the Phoenix area want the economy to reopen in phases, according to Business Journal research. The Phoenix Business Journal’s parent company surveyed business leaders in the Valley and across the United States to take their pulse…»
Hospitality Clawing its Way Back in Arizona
Michael Stavros remembers it well. It was the first day of Catersource Conference & Tradeshow, March 9, in Las Vegas, the annual premiere convention event for the catering industry. Mr. Stavros, partner and director of business development at Phoenix-based M Culinary, said in the last year his company…»
IRS Extends Key Opportunity Zone Deadline
Last week the Internal Revenue Service provided Opportunity Zone investors with some relief. Opportunity Zone rules provide 180 days for investors to roll over capital gains into an Opportunity Zone fund (QOF). Investors whose 180-day period would have ended between…»
Office Brokers Don’t Expect a Return to Normal Any Time Soon
The office sector remains in a tough spot. The pace of workers’ return to offices varies tremendously across the country at the COVID-19 pandemic remains far from contained in multiple states. There are big questions as to what the density of office spaces will look like in the long term and how many jobs…»