Commercial Real Estate & Business News – June 29, 2020

Construction Costs Expected to Ease for Apartment Developers
Heading into 2020, a robust development pipeline and rising costs of construction material and labor were major concerns for the multifamily sector. The economic devastation wrought by the COVID-19 shutdowns has put a halt to that, scrambling the projections of economists, developers and contractors…»
The Office is Down But Not Out
Most office workers don’t miss cramming into a packed subway train or sitting in bumper to bumper traffic twice a day. But they do miss the interactions they have with others at the office, a dedicated workspace and even their ergonomic workstations. A new report by JLL finds that although…»
Commercial Real Estate Sales Fall 24% to $39.1 Billion
Commercial real estate pricing dropped during a dramatic slowdown in transaction volume during the coronavirus pandemic, according to the latest monthly CoStar Commercial Repeat Sale Indices. The repeat sales of $39.1 billion for the first five months of 2020 fell 24.2% from the same time a year earlier…»
Council OKs Big NE Mesa Housing Project
With opponents bemoaning the loss of pristine desert to the end, Mesa City Council last week unanimously approved zoning for Blandford Homes’ Reserve at Red Rock resort-style subdivision. Beyond the oft-stated concerns about airport noise and residential encroachment…»
Gold’s Gym to Emerge From Bankruptcy With Smaller, More Urban Focus
Fitness giant Gold’s Gym International plans to emerge from Chapter 11 bankruptcy protection with a trimmer business model it began implementing before the pandemic hit. The property strategy whittles the traditional “big box” Gold’s Gym model into a business scaled for urban spaces and lower prices…»