Arizona Landlords Got Grants, Filed Eviction Notices Anyway

By Jessica Boehm, Catherine Reagor & Ralph Chapoco | Arizona Republic Arizona landlords who received money from a state program that aimed to prevent evictions during the COVID-19 pandemic filed nearly 2,500 eviction notices during the pandemic, an Arizona Republic investigation found. Gov. Doug Ducey’s office launched the Arizona Rental Property Owner Preservation Fund in …

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Phoenix Tops US Cities with Highest Number of Eviction Filings

By Angela Gonzales | Phoenix Business Journal Phoenix topped the list of cities across the nation with the most eviction filings during the coronavirus pandemic, according to a new study by the United Way. The report, conducted by the Eviction Lab at Princeton University, shows Phoenix had 16,685 eviction filings in the past year during …

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Commercial Investments Dip 20 Percent in Phoenix Metro

By Corina Vanek | Phoenix Business Journal Despite a surge in the fourth quarter, the COVID-19 pandemic caused a significant decline in real estate investment in the Phoenix metro in 2020, which saw a 20% decline from the previous year. In total, investment reached $9 billion in 2020, with the lion’s share of the money, …

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Scottsdale Airpark Leads Sublease Space Race

By Corina Vanek | Phoenix Business Journal The COVID-19 pandemic and its effects led to the first quarter of negative net absorption of office space in the Valley after nearly nine years of positive net absorption, according to Colliers. The overall direct vacancy rate in the Valley in the fourth quarter was 13%. Available sublease …

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Phoenix Real Estate Leaders: ‘Guarded Optimism’ for 2021

By Corina Vanek | Phoenix Business Journal Some areas, particularly users of industrial real estate, continued to do well during the pandemic as many people shifted their buying online, bolstering an already strong industrial market in the Valley in 2020. “We had record numbers on the industrial side and that’s not going to change,” Mark …

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COVID Shifts Phoenix Corporate Relocation, Expansion Prospects

By Corina Vanek | Phoenix Business Journal The coronavirus pandemic has tilted the scales for business prospects in Phoenix, with about 75% of prospective companies working with the Greater Phoenix Economic Council seeking industrial space, a shift from a usual average of about 40%. Thomas Maynard, vice president of business development for GPEC, said that …

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NAR Advocates Relief for Commercial Real Estate

By Erin Stackley, Esq. Sr. Policy Representative, Commercial Issues National Association of REALTORS® [emphasis, links added] The National Association of REALTORS® (NAR) has advocated throughout the pandemic for federal relief specific to commercial real estate. These issues include: NAR successfully advocated for independent contractors to be eligible for PPP loans, which has provided aid to Realtors® and …

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NAIOP AZ: May Rents Should Be Less Chaotic Than April

By Corina Vanek | Phoenix Business Journal As commercial landlords stare down another month of tenants— especially restaurants and retailers — likely missing rent when checks are due on May 1, the chaos has calmed slightly since what happened in April and processes have been put in place to deal with rent relief. Suzanne Kinney, …

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