The Political Battle Begins!
Trbo Commercial Real Estate – Lend Me Your Ear!
Friends, Arizonans, Countrymen, lend me your ear! It’s been an eventful week in Arizona with restaurants, public pools and gyms opening up along with the latest news in life science real estate, the potential stimulus package installment and commercial building sanitation practices. We would like to take a moment to go over these subjects and keep you informed and up to date on the latest information to help your portfolio or business succeed.
Governor Ducey Opens Restaurants, Public Pools and Gyms
On Tuesday, May 12th, Governor Ducey announced that the Stay At Home order will be ending on Friday, May 15th and replaced with new guidance for the next stage of economic recovery. Along with that announcement, he proclaimed that gyms and public pools could, once again, open for business. This came after the re-opening of restaurants on Monday, the 11th where many were eager to serve the community. With the opening of Arizona comes a comprehensive effort to slow the spread of COVID-19 including more testing availability, better tracking of key health metrics including reporting of symptomatic cases, contact tracing and enhanced safety protocols to protect those living and working in high-risk facilities. This, hopefully, will be a positive step in working toward a safe economic recovery for AZ.
Will the US Receive Another Stimulus Package? Republicans & Democrats Battle It Out!
Democrats have said they would like to move quickly on a second installment to the CARES Act. This act sent relief checks to Americans, boosted unemployment benefits and created a loan program for small businesses. Republicans are pushing for liability protections for businesses along with a pause on additional legislation. With this proposed stimulus package, they are asking for additional funding for state, local and tribal governments, cash payments to Americans, more funding to increase testing, more funding for the Paycheck Protection Program and infrastructure repair. So, will this expansion on the original stimulus package go through? There’s no telling. As the Republicans and Democrats fight it out, we can only watch and see where it all ends up. Let’s hope it’s not a bloody battle like the Tyson – Holyfield fight! Evander, lend me your ear!
COVID-19 May Be Transforming Life Science Real Estate
While many in the medical field have experienced a downturn, life science has remained strong. As more and more laboratories are testing for both COVID-19 and its antibodies, the need for more life science real estate expands. This need will continue to grow as many continue to search for a cure as well. Because COVID-19 is a highly contagious virus, the government requires special laboratory space characterized as “Biosafety Level 3” or BSL-3 standard for biotechnology companies to use as a research facility for this type of infectious pathogen. This means that a lease cannot be signed just anywhere. Because of this, these types of suites are in high demand.
Are You Keeping Your Commercial Building Sanitized?
With everyone seeming to be centered around cleanliness and sanitation, what should you be doing to ensure your buildings are safe for your tenants and their clients? While every site can present unique challenges, there is a routine that you can take to address each property. First, establish routine maintenance that applies to all open and common areas. This includes regular cleaning of all areas to ensure they are properly sanitized. Next, have deep sanitation completed. This process backs up the first step by damp wiping high-contact touch surfaces using a highly disinfectant cleaner. The last step is using a decontamination within areas that have had a confirmed case of COVID-19 using CDC recommendations. It is also a good idea to utilize new technology, where available, to reduce contact within the environment. This could be touchless doors, thermal scanner security kiosks, air purification, occupancy sensors and sanitization systems. In short, utilizing simple steps to keep your buildings clean can not only help keep the risks down but also bring comfort to your tenants, their employees and their clients.
It is clear that, even though the economy is beginning to reopen, our society is not the same as it was in the beginning of the year. Because of this, we have all had to learn new practices to ensure the safety of ourselves and our families. But it is also a positive step in the recuperation of our economy as more and more businesses can begin to open up and serve the community. If you have any questions regarding the these items along with any other commercial real estate inquiries, please do not hesitate to contact me.