Economic News
Phoenix Commercial Leasing Remains Bogged Down
Phoenix CRE is slogging away amid the COVID-19 pandemic, with some deals continuing to move forward but many major deals remaining stalled. Andrew Cheney, principal for Lee & Associates, says almost any deal for more than 50SKF has been put on ice. Nonetheless, confidence has increased slightly over the course of the pandemic, and more transactions have proceeded as scheduled, according to a survey done by the Society of Industrial and Office Realtors. (Source: Phoenix Business Journal)
Tech Sees a Largely Remote Future Work Environment
Now that many corporations have gone largely remote, and found that their workforces remain productive, the technology sector appears to be embracing the concept for the long-term. In a new survey by Savills North America of several hundred technology office tenants, a staggering majority of firms, 94 percent, said they expect remote work, at least a few days a week, to be normalized at their company in a post-vaccine environment. (Source: GlobeSt.com)
Resources
Valley Partnership has recently updated its Coronavirus Resources for Arizona Businesses page to include an extensive list of Arizona cities’ and departments’ operations updates.
NEWS TICKER
- [June 27, 2025] - Arterial Life Cycle Program Covers 20 Years of Street Development
- [June 27, 2025] - Phoenix-to-Tucson Rail Study Advances
- [June 27, 2025] - Kimpton Hotel Palomar Phoenix to See $5.5M in Renovations
- [June 27, 2025] - Arizona Projects 06-27-25
- [June 24, 2025] - Hobbs, Legislators Reach Water Use Compromise
- [June 24, 2025] - $56M+ MAG Program will Enable $90M in Arterial Street Widening Projects
- [June 24, 2025] - Queen Creek Council OKs Amendment for 166-Unit Townhome Project
- [June 24, 2025] - Ariz. Construction Shed 1,700 Jobs in May