West

The deals were announced on Wednesday by the three major automakers. Following Thursday evening shifts, Ford is temporarily suspending production at its manufacturing sites in North America to March 30 to thoroughly clean its facilities to protect its workforce and boost containment efforts for the COVID-19 coronavirus.

Allegiance Retail Services, a current subtenant, signed a direct long-term lease for 18,928 square-feet at the property. In addition, Office Evolution, an existing tenant, signed a long-term lease extension and expanded its total square footage to 14,500 square-feet.

Hellyer Oaks Technology Park consists of two interconnected office/R&D buildings which Vertical Ventures recently sold to Swift Real Estate Partners in a $55.65 million transaction.

With people rushing out to grocery stores and pharmacies, daily needs retailers are doing well amid the crisis.

Jobs have driven strong medical office activity in Phoenix, but new supply will likely drive vacancy up this year.

The outbreak of COVID-19 will certainly be a decrease in real estate demand drivers, but there will be some great buying opportunities.