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COVID-19 News Round-up for June 5

Credit: Safety+Health Magazine

Policy & Stimulus News 

Queen Creek Extends Permit, Planning Deadlines 

The Town of Queen Creek has announced that all Building, Planning, and Engineering permits, plans, and approvals with expiration dates between 5/1-12/31, or that have approval dates prior to 12/31, have been automatically extended for an additional 1-year at no cost. Additional flexibility can be applied to active development applications and can be approved by the Development Services Director. In addition, all town buildings are now open to the public, but online service access continues 24/7. (Source: Rose Law Group Reporter) 

Economic News 

NREI Advice, Predictions on CRE 

National Real Estate Investor has published a set of slides featuring advice and predictions from seven leading CRE economists on the future of the market. (Source: National Real Estate Investor) 

Pandemic Will Cause 5.5 Percent Dip in Retail Rents 

Retail rents are likely to decline by 5.5 percent in 2020, as discretionary retailers like apparel stores, specialty shops as well as dining establishments have been pummeled by the COVID-19 pandemic, according to a new report from JLL. (Source: GlobeSt.com) 

Office Space Demand to Drop by 16.3MSF in Q3 

National economic upheaval and surging unemployment will push U.S. office market absorption into negative territory through the second quarter of next year, according to the NAIOP Research Foundation’s Office Space Demand Forecastfor Q2. The steepest declines could happen in the Q3, to the tune of about a 16.3MSF drop. The research does, however, expect that absorption will increase as the economy starts to rebound in 2021. (Source: Commercial Property Executive) 

Resources 

Municipal Operations Overview Update 

On June 2nd, Rose Law Group posted an update to its list of schedules and availabilities for government offices, planning & development services and public meetings around Maricopa and Pinal counties. (Source: Rose Law Group Reporter) 

ABC: Safety Best Practices Can Make Companies 827 Percent Safer 

Associated Builders and Contractors has released its 2020 Safety Performance Report. Published in conjunction with National Safety Month, the report documents the dramatic impact of using proactive safety practices to reduce recordable incidents by up to 88 percent, making the best-performing companies’ 827 percent safer than the U.S. Bureau of Labor Statistics industry average. (Source: Associated Builders and Contractors) 

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