Commercial Real Estate & Business News – May 13, 2020

Opportunistic Capital Prepares for Distressed Investment Spree
Even as COVID-19 continues to wreak havoc with the global economy-putting the majority of commercial real estate investment activity on pause-entities are lining up gobs of capital to pounce on distressed real estate opportunities expected to arise in the coming months. “Billions of dollars are being…»

Anxiety, Relief, Joy: Metro Phoenix Businesses Start to Reopen With Mixed Emotions
Retailers, barbers and salon owners from around metro Phoenix began to emerge from their coronavirus-induced hibernation on Friday, following the most significant relaxing of Gov. Doug Ducey’s stay-at-home order so far. Many business owners, employees and customers voiced concerns about the…»

Net Lease Sales Volume Plummets As Transactions Get Harder to Close
While net lease is one of the most durable segments in commercial real estate, the coronavirus pandemic thwarted first-quarter sales, according to Avison Young’s Q1 2020 Cap Rate Report. The net lease sector’s sales activity fell from 586 deals in Q4 2019 to 416 in Q1 2020. Despite that decline, cap rates dropped seven…»

The Biggest US Mall Owner Plans to Have 50% of its Centers Reopened This Week
The biggest U.S. mall owner, Simon Property Group, said Monday that it plans to have roughly 50% of its properties reopened again within the next week, as states begin to loosen their lockdown restrictions during the coronavirus pandemic It made the announcement as it reported quarterly earning…»

Phoenix Office Employers Had Expansion Plans in January, But Now It’s Wait And See
After 19 straight quarters of positive net absorption in Phoenix, demand fell negative in the first three months of the year, and pushed up vacancies to 12%. The rate is still low by historical standards, thanks to a moderation in the supply pipeline over the past decade and robust job growth…»