Commercial Real Estate & Business News – May 14, 2020

Ducey: Arizona Stay-At-Home Order Expires Friday; Gyms, Pools, Sports Leagues Can Start Up This Week
Gyms, spas and community swimming pools will be allowed to open Wednesday, and professional sports leagues will be allowed to begin practicing in Arizona after the state’s current stay-at-home order expires Friday, Gov. Doug Ducey said Tuesday. Movie theaters also were given…»
CoStar Data: Phoenix Office Demand Softened in Q1, Even Before Pandemic Effects Kicked In
Even before the full effects of the coronavirus pandemic were felt, the Phoenix office market saw a bit of a slowdown in the first quarter, according to CoStar research. Despite some major leases in the Valley, including both Inc. and Deloitte leasing office space in the 100 Mill building under construction…»
Capital Markets Loosen Up Enough to Allow Some Multifamily Refinacing
When the Fed slashed rates to near zero two months ago, there was speculation that it would fuel a wave of commercial real estate refinancing. But then the deep crash in economic activity precipitated by nationwide shutdowns and the overall uncertainty created by…»
A Path to CRE Price Discovery Starts to Emerge
Deals all but screeched to a halt when the US went into lockdown mode six or seven weeks ago, sending the economy into a deep recession and causing havoc in the commercial real estate markets. Simply put, the industry went into deer-in-headlights mode and it remains there to this day…»
Retail REIT Gets PPP Loan as Tenants Struggle to Pay Rent
Whitestone REIT, a national retail real estate investment trust, said about 36% of its tenants did not pay rent in April, but executives are cautiously encouraged by signs of an early recovery as economies begin to reopen. The landlord is deferring rents in the short term, cutting its cash dividend for investors…»