Commercial Real Estate & Business News – June 4, 2020

1st Non-Gaming Caesars Hotel Begins Construction in Scottsdale
The coronavirus pandemic has boosted the business of drive-thru, quick-service restaurants, but sit-down eateries have started falling out of investors’ favor, according to two brokerage firms that specialize in the sector. In the first quarter, the national capitalization rate for single-tenant casual dining properties…»
Restaurants Face a Challenge If They Reopen with Limited Dining Capacity. What Can Landlords Do to Help?
The U.S. restaurant sector has sustained one of the heaviest blows during the COVID-19 pandemic as national quarantines forced the closures of restaurant dining rooms across the country. Full-service and casual-dining chains are less equipped to pivot to delivery and takeout, and many can’t survive on…»
Developer Makes Strategic Changes Phoenix Office Development
Developer George Oliver has quickly shifted its strategy on the redevelopment of the Alexander, a class-A office development in the Phoenix suburb of Chandler. The property is currently under construction, and will now reflect new needs in office space as a result of the coronavirus pandemic. The changes will…»
Office Towers Are Still Going Up, but Who Will Fill Them?
Before the pandemic shut down businesses, a robust economy had powered a building boom, sending office towers skyward in urban areas across the United States. The coronavirus outbreak, though, has scrambled plans and sent jitters through the real estate industry. Skyscrapers scheduled to open…»
CMBS Delinquency Rate Posts Record Monthly Jump
The delinquency rate of U.S. commercial mortgage-backed securities recorded its largest monthly jump in May, but most industry watchers were expecting it to be worse, according to financial analysis firm Trepp. Trepp’s CMBS Delinquency Rate for May was 7.15%, a jump of 481 basis points over the April’s rate of…»