Commercial Real Estate & Business News – July 7, 2020
Multifamily Market Expected to Recover in Two YearsMultifamily properties are expected to experience a sharp decline followed by a fast recovery through 2020, according to a report by CBRE. CBRE’s economic advisers predict the multifamily market will reach its bottom in the fourth quarter of 2020 and begin recovery in the first quarter of 2021…» […]
Commercial Real Estate & Business News – July 6, 2020
Recent Virus Surge Will Force Congress to Offer Additional Stimulus for BusinessesWith Covid-19 cases once again surging among communities in the South and the West, government officials are beginning to claw back the reopening of bars, hotels, restaurants and other businesses. Understandably, it will have an effect on the broader U.S. economy…» NEWS: Q2 Economic […]
Commercial Real Estate & Business News – July 3, 2020
Have a Happy and Safe 4th of July Weekend! Value of Phoenix-area Construction Starts Drops in MayNearly $891 million worth of residential and nonresidential construction projects began in the Phoenix area in May, a 19% drop from May 2019, when the region’s economy was full speed ahead and $1.1 billion worth of construction projects started…» […]
Commercial Real Estate & Business News – July 2, 2020
Fitch Issues Mixed Prognosis For CRE Banks in Midst of PandemicThe financial prognosis for the banking industry during the current COVID-19 pandemic is unsteady, but there are bright spots. That is the word from Christopher Wolfe, managing director and head of North American Banks at Fitch Ratings, one of the country’s top three credit rating […]
Commercial Real Estate & Business News – July 1, 2020
Phoenix Retail Demand Diminishes During Coronavirus PandemicPhoenix retail demand dramatically pulled back since March, when the pandemic rocked the market. Retail was one of the hardest-hit commercial sectors due to an abrupt stop in economic activity and a curtail in consumer spending. Many retailers closed…» Competition Lines Up to Buy Self-Storage PropertiesIn the first week […]
Commercial Real Estate & Business News – June 30, 2020
Lenders Provide “Mixed Bag” of Relief to CRE BorrowersLenders and CMBS special servicers are still scrambling to work through the growing backlog of forbearance and relief requests. Borrowers looking for clues on just how far lenders are willing to bend-and what comes after initial relief expires-are finding…» Apartment Rents in Some Phoenix Areas Have Recovered […]