Commercial Real Estate & Business News – July 10, 2020
Costco Sees Stronger Sales Growth in JuneNet and comparable sales growth topped 11% at Costco Wholesale in June, fueled in part by the ongoing coronavirus crisis. For the five weeks ended July 5, net sales came in at $16.18 billion, up 11.1% from $14.57 billion a year earlier, Costco reported after the market…» U.S. May […]
Commercial Real Estate & Business News – July 9, 2020
The Office Is Not Dead-Just Evolving-and Definitely Here to StayThe current unprecedented pandemic has impacted many facets of the real estate landscape, and the office sector will be no exception. The severity and direction of these implications will vary based on the time horizon (short-, medium-, or long-term)…» Phoenix Office Market Virtually Unchanged in Second […]
Commercial Real Estate & Business News – July 8, 2020
These 9 Arizona Cities Among Top 20 in U.S. Bouncing Back MostThe latest jobs report shows the national unemployment rate at 13.3%, which is below the peak of 14.7% during the height of the COVID-19 pandemic. To provide more context at the city level, WalletHub today released its report on the Cities Whose Unemployment Rates […]
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…» […]