News Ticker

COVID-19 News Round-up for October 20th

Credit: BKD

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 iceNonetheless, 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.  

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