Commercial Real Estate & Business News – June 2, 2020

There’s Still a Struggle Ahead But Signs Emerge that the Economy is Reawakening
The COVID-19 pandemic started to strain the housing market in April, but amid the strain prices are holding firm, according to a new research report. Data shows that housing starts declined by 30% and building permits dropped by 21%, said the report by JLL. Existing home sales…»
Sagewood’s $100M Phase II Construction Reaches 70% Complete
Sagewood, a Life Plan Community featuring a resort-like setting in northeast Phoenix, has reached more than 70% in construction progress for its $100 million Phase II that includes 101 independent living apartment homes, new restaurants and community amenities. Sagewood is being developed by LCS…»
Here’s How Senior Living Facilities are Changing With the Times
Much of the focus for modern product design is on how the next generation will embrace a product or concept. Terms like Millennial or Gen Z are thrown around when retailers talk about attracting new customers, and their needs and wants are often at the forefront…»
Phoenix Developer Proposes Apartment Building at Former Sears Repair Store Site
A local developer has filed plans to build a 172-unit apartment community at the former site of a Sears Parts and Repair store in Phoenix. Moderne Living has a proposal to redevelop the almost 3-acre site as a mixed-use project called The Governor by Moderne…»
This Recession Will See a Faster Race to the Bottom for Prices, Analyst Predicts
A senior vice president at Real Capital Analytics says the drivers in the current economic downturn are different than the ones that spurred the global financial crisis more than a decade ago. Jim Costello wrote in a post this week that “warning bells” were going off years…»