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Commercial Real Estate & Business News – June 8, 2020

Positive Outlook for Arizona’s Economic Comeback From COVID-19
Prominent Valley business and education leaders said that some positive changes have come out of COVID-19 that should help Arizona’s economy recover.  The state also is better positioned to rebound than other states because of its emphasis on attracting industry and…»
Distress Investors May Have to Wait as Long as 3 Years for Non-performing Loans to Come to Market
Distress investors have been racing to the market in anticipation of snapping up deals. For the most part they are finding, to some chagrin, that there are little properties and loans available at deep discounts. There has been much positing about when these transactions will come…»
Unemployment in U.S. Unexpectedly Falls in May
The unemployment rate fell to 13.3% in May, the Labor Department said Friday, an unexpected improvement in the nation’s job market. Economists had expected the rate to increase to as much as 20%, after it hit 14.7% in April, which was the highest since the government began…»
As CMBS Delinquency Rate Skyrockets, Trepp Sees a Small ‘Win’
The delinquency rate for commercial mortgage-backed securities shot up faster than ever as the COVID-19 pandemic gripped global life. But it could have been worse, according to Trepp’s latest CMBS delinquency rate report.With stay-home orders putting many businesses in a…»
Tenants’ Troubles Put Stress on Commercial Real Estate
In the middle of March, as Covid-19 was shutting down the U.S. economy, Hughes Marino, a West Coast commercial real estate brokerage firm based in San Diego, wrote an email to clients offering to haggle with their landlords for lower rent. The firm was ready to help companies “restructure…»