Amazon Discussing Retail-to-Distribution Conversions
By Joe Dyton for The Broker List Mall owner Simon Property Group and Amazon are in talks to turn J.C. Penney and Sears stores into distribution centers, according to The Wall Street Journal. Both department store chains filed for Chapter 11 bankruptcy and closed stores across the country. Simon malls have 63 J.C. Penney stores and 11 Sears, according to the company’s May public filing. The number of stores Amazon […]
COVID-19 News Round-up for October 9th
Economic News No-Anchor Retail Could Be Better Bet Conventional wisdom would dictate that in times of economic turbulence, a retail landlord might prefer to have an anchor tenant that offers essential services, like a grocery store. But one observer thinks that during the COVID-19 crisis, non-anchored retail has done better than anchored at adapting to an uncertain environment. (Source: GlobeSt.com) […]
North America’s Const. to Fall Less than Expected
Source: GlobalData GlobalData has revised its forecast for North America’s construction industry to -1.7 percent this year from the previous projection of -6.5 percent in the Q2 2020 update, as the recovery in the US residential market from the initial shock of the COVID-19 pandemic has been faster than expected. Dariana Tani, Economist at GlobalData, comments: “The US residential market has […]
COVID-19 News Round-up for October 6th
Budget, Policy & Stimulus News Gilbert to Start Spending Relief Funds Gilbert will begin spending some of its nearly $30M in coronavirus relief funding, three months after the town received the money. The Town Council will spend $18M for business grants, loans and other support and $2M for nonprofits. A majority of the remaining funds may go to […]
COVID-19 News Round-up for October 2nd
Budget, Policy & Stimulus News When to Apply for PPP Loan Forgiveness? The SBA’s formulas for loan forgiveness, and businesses’ individual forecasts, have created confusion as to when may be the best time to apply. A recent article provides an executive summary and process overview. (Source: AZ Big Media) House Considering Long Shot PPP Gridlock Bypass Some House lawmakers are signing on […]
Office Sublease Space Up 21.8 Percent
By Les Shaver for GlobeSt.com As COVID-19 forced lockdowns across the country, the amount of vacant sublease increased in the first half of 2020, according to new figures from Cushman & Wakefield. C&W monitored activity across 83 office markets and 92 industrial markets in North America and determined sublease vacancy generally increased across the office market and minimally throughout […]
COVID-19 News Round-up for September 29th
Budget, Policy & Stimulus News Small Business PPP-Type Loan Program Needed An opinion piece in Triangle Business Journal by Editor-in-Chief Sougata Mukherjee summarized the looming disaster faced by small businesses as extended unemployment benefits dry up, along with the initial small business assistance provided by the Paycheck Protection Program to alleviate COVID-19 impacts. Despite wrangling by both major parties before the pending November elections, Mukherjee […]
Peoria Eyes Significant Transportation Funding Source
By Philip Haldiman for Independent Newsmedia A significant funding source that has generated about $4.3B in tax revenues since 2006 for transportation in Peoria and throughout Maricopa County expires in 2025, so city officials are planning to ensure they get a piece of the pie if funding is renewed. Proposition 400, approved by 58 percent of Maricopa County voters […]
COVID-19 News Round-up for September 25
Budget, Policy & Stimulus News Double-dip Recession Possible Without New Stimulus The U.S. economy is at a crossroads, with some analysts saying a failure by Congress to pass another stimulus package, even as the COVID-19 pandemic continues to spread, would tip the nation back into recession. Lawmakers remain deadlocked over a measure to provide another round of $1,200 checks to most […]
Subleasing, Rent Pressures Equal Trouble for Office
By Rayna Katz for GlobeSt.com Given corporate America’s reluctance to return to offices rather than work from home, current conditions in office properties—and the likely near-term future—are looking bleak. Looming excess supply on the horizon will also be a problem, according to a new report on the top 25 US Office Markets from Colliers International. All told, the mid-year research stated, […]