Nick Miner, CCIM

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 … [Read more...] about Commercial Real Estate & Business News – July 8, 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 … [Read more...] about Commercial Real Estate & Business News – July 7, 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 … [Read more...] about Commercial Real Estate & Business News – July 6, 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 … [Read more...] about Commercial Real Estate & Business News – July 3, 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, … [Read more...] about Commercial Real Estate & Business News – July 2, 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 … [Read more...] about Commercial Real Estate & Business News – July 1, 2020