4 in the Top 20!

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The good news keeps coming. Metro Phoenix just landed 4 cities in the top 20 best US cities for finding a job in 2017.  Arizona is open for business.  If you are looking to relocate, or know someone who is, there is no better area than the Valley of the Sun.   Here are a […]

Demonetized Cost of Living

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Everyone talks about the negatives that happen in our lives. But some of the most incredible transformations are going on right in front of our eyes as well. A few months ago, I shared with you Dr. Peter Diamandis’ email about how the world is getting better (Click here to read that post). Today’s topic also comes from Diamandis, and […]

CRE Crowdfunding

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Crowdfunding Commercial Real Estate acquisitions is all the rage. However, like everything, there are opportunities and liabilities in placing your investment dollars in a crowdfunded deal.   Below are two different articles with highlights. But first, a quick summary: Liabilities: Investors lack the industry knowledge and experience needed for real estate investments Too many uncommitted investors High legal fees […]

Suburban Office Markets

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The current recovery has been anemic, not just economically but in terms of new office construction as well. Long term, the lack of new buildings is good as overbuilding is not a concern. With the emergence of millennials in the work force and live/work/play environments,  suburban office markets have been even slower to recover. As the Central Business District […]

Metro Phoenix is Getting Better…Slowly

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Steady net absorption (more space being leased due to job growth) continues to chip away at Metro Phoenix’s office vacancy as we head into Q4 2016. This quarter, Phoenix benefitted from medium-sized companies expanding. We hope these companies continue to grow. The metro Phoenix office market is on pace to perform roughly the same as 2015, i.e. […]

Who Will Be the Uber of CRE?

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Anytime you look to the future, the word disruption always enters the conversation. I spend way more time now looking at companies that are trying to disrupt the brokerage business than I ever did in my entire career. As a 25-year CCIM, I found the below article worth sending out as one of my narratives. Many […]

Finally AZ is Growing Again!

AZ Economy

Arizona is growing again. Of all the states boasting job growth, we are at the top. We have been doing it with regional headquarters relocations, internal growth, and a robust tech market. I give a lot of credit for this growth to our pro-business Governor Doug Ducey. This narrative is decidedly not political, but our growth […]

Stalking Millennials and CRE

Stalking Millenials

It seems like I am stalking all Millennials these days. Readers know why. They are changing the way we do business. Below is an article on how they are changing Commercial Real Estate. Here are a few takeaways for me: Smartphones are here and they are being used for EVERYTHING. All our websites, media, packages, flyers etc. need […]

How Much You Need to Make to Buy a Home

How much do you need to make

While we specialize in leasing commercial office space, we watch the housing market very closely. Housing is a precursor to office space growth. Regular readers know this housing market recovery has been slow and multifamily has been on fire for the past 5-6 years. While there are lots of reasons for this, affordability may be one of them.   The below […]

Understanding The Office Market: Q1 2016 Phoenix Office Report

Q1 Report

Office leasing is off to a good start in 2016.  Here in Metro Phoenix, the market saw 641,000 square feet (SF) of net absorption (office jobs added) recorded in the first quarter.  This means Metro Phoenix is on track to absorb approximately 2.5 million SF for the year. That would mean another year of consistent, average […]

Wrap Your Head Around These Companies vs. Other Countries

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Most of the time we hear how important China is becoming; how the reemergence of Russia is going to affect the US; and of course all the dramatic stories of the meltdowns of Greece and now Puerto Rico. I always try to wrap my head around how these developments will play out in my backyard […]

Snapshot of Arizona Economy

Arizona Employment Rates

Below is a great snapshot of Arizona and where we are with our economy. In addition, I’ve added a couple extra tidbits that are not in the below infographic:   –Arizona still lags in job creation. We are not quite back to 100 percent of our jobs lost (even though we have regained 314,000). This is the first […]

Employment Growth – Employer Payroll Survey vs. Household Survey

My favorite economist who tracks the national economy and the US office market is Peter Linneman. He produced the graph below which shows job loss and gain during the recession. This graph demonstrates exactly why I follow the jobs market so closely and why most office markets in the US have been slow to recover. Surprisingly, there are just a few […]

Spheres of Influence

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Every now and then I see cool graphs that grab my attention. Site Selection magazine ran the below graphs showing the top industries and the top projects of the year (2013).   I found the following insights: –Where companies are headquartered and the size of each company are very interesting. There is some clustering, but not always. –Transportation is driving the […]

7 Bold Commercial Real Estate Predictions

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In my weekly narrative, I spend quite a bit of time thinking, talking, and looking at the future. Below are seven bold predictions by some of the leading thinkers in our industry. Here a few key predictions that stand out: –Malls will soon be extinct –Technology will run buildings (we see that coming today) –Green buildings will become the norm […]

5 Measures of Arizona’s Economy As Fall Season Arrives

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The local paper in Phoenix, The Arizona Republic, published a great summary about the Arizona economy and my favorite topic—Jobs. Please take a look below for the full article, but here are a few highlights:   –We are still at 60% of jobs recovered from pre-recession numbers. –Construction, typically our get-out-of-the-slump card, is severely lagging. –One bright spot […]

Phoenix Housing Double Dip Recession?

No recovery is smooth. There are fits and starts. There are blue skies and cloudy. The Phoenix housing market, which in past years has driven the office market, has cooled off and is pulling back. Nobody thinks this will be a full recession, but there are clear signs that all is not peachy in Phoenix. I believe this to be true […]

Highlights from Arizona State University’s Annual Economic Outlook

Over the last two weeks, I have talked about the numbers behind the job numbers in the US and Arizona. Of course, there are people much more qualified and articulate who actually track this kind of data for a living. Arizona State University’s annual Economic Outlook produced some quality information that I thought I would […]

Comparing the U.S. and Phoenix Economies

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Last week I discussed the labor market and what is happening in Arizona with job gains and the office market. This week I have pulled some information from the Brookings Institute on our economy and the recovery compared to the rest of the US. Here are some of my takeaways: –Phoenix will remain one of […]

A Look at the Numbers Behind the Current Headlines About Job Creation

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Job creation news made headlines a few weeks back touting that the United States had recovered all of the jobs that were lost during the great recession. In Arizona, however, we are still way behind our pre-recession levels. Over the next two weeks, we are going to try to tie jobs, the Phoenix office market, […]