Driving Change In Your Office

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We spend a large amount of time with our tenants talking about the changing workforce, and how to drive change within the company. Below is a great infographic from Forward Tilt and Allsteel on how to do exactly that — drive change. To drive change, you should know some of the myths that are perpetuated, […]

Office Lease Checklist

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Whenever a client has a problem with their space or lease agreement, 9 times out of 10 we can trace that negativity back to one thing: a communication failure in the original lease negotiation. Leases are unfamiliar territory for many of our clients. Most of the time, they just don’t know the right questions to ask. Below […]

Evolution of Work

Evolution of Work

If you want to attract top talent, listen to the demands of the workforce. More and more, companies are living by this golden rule, making changes to their workplace to reflect the unique wants and needs of incoming employees.  We’ve discussed this trend in previous narratives, and now we are seeing those changes take shape […]

World’s First Solar Panel Road

Solar Panel Road

I remember in high school (proud graduate class of ’79 Buena High School in Sierra Vista, AZ) my economics teacher Joe Bob Cole told us that the person or company that figured out how to make solar power economical would be rich. Fast forward 38 years (I just felt really old typing that) and guess […]

1-Minute Phoenix Metro Office Update: Q1 2017

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Q1 2017 was a very busy first quarter! Metro Phoenix office market experienced 800,000 SF of positive net absorption. Annualized, this puts the market on track to absorb 3.2 million SF for the year, and 700,000 SF over our 25-year average.   Vacancy in the first quarter essentially stayed flat at 18.9%, due to new building […]

UBS Reinvents the Work Space

UBS Work Space

When you start a new job at a new office, what’s the first thing you do? For most of us, the answer is get settled in your workspace. You are assigned a desk, maybe put up a few pictures, stock the drawers with your favorite pens, and meet your neighbors. But this simple act of […]

Shipping Containers and Farming?

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Months ago, I wrote a narrative on old warehouses becoming indoor farms. (Click here to read.)  Now, we are seeing shipping containers being used to grow produce.  No transportation costs and no packaging costs are clear advantages of this new way of farming. Here are are few more:   -          Each 320 sq. ft. box has the growing power to […]

Law Firms Get Creative

Law Firms Office Space

What are the biggest pressures facing law firms right now? I will give you three I know are on your priority list: 1) Lower costs, 2) Landing top talent, and 3) Automation.   You know how I know? Because law firms are no different than any other business. The law firms we work with are finding some innovative ways […]

A 3D-Printed Building?

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3D printing is by far one of the most exciting and innovative technologies hitting the market today. But most people have no idea how far along the technology has come. From ears to planes, car parts to prosthetic limbs, and now entire office buildings, 3D printers are already creating amazing things and disrupting entire industries in the […]

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 […]

1-Minute Market Update: Q4 2016 Report

Q4 2016 Office Report

The Metro Phoenix office market’s health continues to improve. Net absorption (job growth) of 2.93 million SF mirrored 2015 figures, which helped push vacancy down to 18.6% (from 19.5% at the end of 2015). Overall, lease rates are higher than they were a year ago with a current average of $24.34/SF Full Service. Rental rates still […]

Coppola-Cheney: Looking Back on a Strong 2016

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We had another great year in 2016. We added new members to our families, took some fantastic trips, and executed some incredible deals. Please see below for a recap of our year by the numbers. Now we’re looking forward to 2017, excited for new opportunities and grateful for amazing clients and friends like you. Thank […]

World’s Coolest Office Spaces 2016

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We love office space. It’s our job. And every now and then we find some really cool spaces that we just have to share. Every year, we take a look back on some of the coolest office spaces built over the past 12 months. For 2016, we saw some really cool, some classic, and a few […]

Why We Still Need Office Space

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Starbucks is not office space. Sure you can have a meeting, grab a coffee, and check your email, but it’s not a real office. There are tons of new co-working or shared office concepts. And yet, office space is not going away. Below is a short and sweet article that gives a few reasons why.  My top takeaways on why […]

Increasing Productivity – Six Factors

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It is no secret that a company’s culture has a huge impact on its success.  Today, the rapid disruption of every industry and the emergence of millennials dominating the workforce means that, more than ever, your culture is either helping or hindering your company’s ability to reach its goals.   So what can you do […]

Innovators and Office Space

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Each year I read tons of reports, market studies, and research.  One of the best in the business is Gensler’s workplace survey. This year, Gensler takes a deep dive into innovators–how they work, how design drives innovation, and what is happening for the individual worker. At the end of this email is a link to […]

Happy Holidays from Coppola-Cheney!

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Happy Holidays from Coppola-Cheney! We are grateful for all of you who have made 2016 one of the best years for a number of reasons:   – We grew our family.  Andrew and Chelsea both had their first children this year. – As a team, we visited seven different countries. – Oh, our team was also […]

Shop and Leave…No Checkout Line

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This week’s narrative features some brand new “WOW” technology. In early 2017, Amazon is opening the first store without any checkout lines. You scan your smartphone on the way in, shop, and walk out when you are done.  Watch this short video to see how it works:      What will this do to shopping?  […]

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 Lagging in Tech Adoption – Why?

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Commercial Real Estate is notorious for NOT being market leaders in technology adoption. Why? The Urban Land Institute has an interesting article below that includes these explanations: Old Timers. The industry is full of dinosaurs. Senior Real Estate professionals are the key to developing successful products, having the industry knowledge and expertise that tech companies don’t have. As we see […]

27 More Rules of Thanksgiving Football

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Once a year, we take time out from our weekly narrative to enjoy the holidays, say thank you to our clients and readers, and share Jason Gay’s hilarious rules for Thanksgiving Touch Football.      This year, here are a couple of our favorites:    –This is Peyton Manning’s first Thanksgiving as a retired football […]

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 […]

World’s First AI Lawyer Hired

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Artificial Intelligence (AI) used to be the stuff of science fiction. But today, it’s becoming a rapidly-evolving technology with massive implications for many industries. Below is an article about the world’s first AI lawyer.  Why would this make me think about commercial real estate?  We represent a large number of law firms. (Check out our Law Firm Experience.)  This […]

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. […]

Where VC Money is Flowing For CRE Startups

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Despite a drop in funding, tech startups are still disrupting the market at a fast rate. Below is a great article highlighting the biggest disruptive startups in commercial real estate. Read on to see what segments of the market VC money is flowing to.    Not totally surprising, the tech market is down from 2015. Though […]

American Malls Are Changing

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With recent massive growth in online shopping, retailers are making drastic changes to their in-store strategy. Currently, one-third of all malls cannot afford to pay for just the maintenance of their properties. This is causing a huge shift in how tenants change their value proposition.   – Brands are putting more of an emphasis on in-store experiences. – […]

Driverless Trucks

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A few weeks ago, I shared my thoughts about driverless cars hitting the roads and the issues office space will be facing (click here to read). Now, that technology is working with the trucking industry, and as the below article shows, it’s going to have a huge impact on many parts of our lives. Recently a platoon of driverless trucks drove across […]

Who Will Be the Uber of CRE?

Central Avenue Phoenix, Arizona

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 […]

The World IS Getting Better!

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The world is continuously becoming a better place to live.  You may not know that from the news, but below I will show you why (with the help of Dr. Peter Diamandis). Peter is a true visionary. Because I am part of his A360 group, I have a cool offer for you today. His biography, How […]

Virtual Reality Property Tours?

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The next five years will bring tremendous change in our lives. Part of this narrative is to look out for changes in the Commercial Real Estate industry. Virtual Reality (VR) tours are coming, and fast. Imagine being able to walk through a proposed building, pick from a variety of office furniture and layouts, choose from a detailed […]

Looking at Risk and Risk Bias

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Today is a quick reminder to all readers (including me) about risk. As humans, we tend to minimize risk. Below is a chart from a 2012 Harvard Business Review article on risk bias.  (Click here to read the full article) Here are 5 ways to mitigate some of the risks you take when leasing or acquiring […]

Finally AZ is Growing Again!

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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 […]

Autonomous Cars

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I have talked about autonomous cars previously. All of the coming disruption is just the next evolution in transportation. If you think driverless cars won’t happen in your lifetime, you’re wrong. Here is a link to a New York Times article about Ford putting these automobiles on the road in less than 5 years (click here to read). Starting in […]

Learn From Arizona’s Top Entrepreneurs

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Some of the best entrepreneurs in the United States live right here in Arizona. Instead of sharing an article this week, I thought you would enjoy a video getting inside the minds of some successful businesspeople, like my business partner Craig Coppola.    “INSPIRE: Stories of the American Dream in Arizona” was created by The Arizona […]

Political Real Estate Issues

Downtown Phoenix, Arizona

Below is a great summary of political issues facing the real estate industry.  I have highlighted some key issues specifically for commercial real estate.  These include:   Ongoing tax reform may make “Like Kind Exchanges” more difficult to close and lose tax benefits drying up volume. New standardized accounting principles for leases could decrease cash […]

Using Drones in Business

Drones in Business

We know technology is disrupting business at an incredible rate. One big area is using drones. There has been a lot of controversy and excitement about introducing drones to business, the military, and more. This technology has the potential to disrupt many industries. Below is an article detailing some companies that have already begun testing drones, including […]

Positive and Steady: Q2 Office Market Insight

Q2 Market Report

Positive and steady. Those are the two words I would use to describe the office leasing market in Metro Phoenix as of mid-year 2016.  The numbers in the below report also reflect this sentiment that I see every day on the streets of the market.  Across the entire portfolio of buildings my team leases, we […]

The Collaboration Curse

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We have talked a lot about open offices and collaborative work spaces in this narrative. Today’s article discusses the latest buzzword, Collaboration.  While collaboration is important, the real question is:  At what cost? The below article succinctly lays out the disadvantages of collaboration in the office. My takeaways: -Less deep work -Longer time to complete a task […]

5 Year Email Anniversary

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Thank you for reading my weekly narrative.  Some of you have been with us the entire five years. I have been blessed to get tons of great feedback, be recognized for an award, and actually get some business out of this weekly email. See below for a graph charting our progress over the past 5 years.   Here […]

17,000 Manhattan Buildings Could Not Be Built Today

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Big cities like New York, San Francisco, and LA have always fascinated me from a real estate perspective. To buy land, design and build buildings is a complex process. Zoning and city planning alone create innumerable obstacles for developers due to the limited amount of space. New York City’s zoning code turns 100 this year, and below […]

World’s Smartest Building

Sustainability is a huge priority for many in commercial real estate these days. The movement towards green, sustainable buildings has opened the doors for new innovations. The below article highlights a building in Amsterdam that received the highest score for sustainability in the world from BREEAM, the world’s leading assessment for sustainable buildings. Even more exciting for […]

How Leaders Prepare for New Workplace Environment

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With all the new open office environments, our clients are having to work with their associates to manage the inevitable issues that arise. We have discussed these issues in previous narratives like noise, lack of privacy, no storage space, etc. Today we wanted to share a few ways to work with your team as you make the transition. These […]

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 […]

Robotic Parking

Robotic Parking

1,000 cars valet parked in a garage. No humans. Unreal. See the story below and if you are really interested, check out the two minute video of the largest parking garage in Europe that is completely run by robots. I have sent some previous narratives on robotics and how it is eliminating jobs. This is one area it will change – […]

How Much You Need to Make to Buy a Home

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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 […]

49% Of All Renters Are Cost Burdened

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I follow housing trends. I used to follow homebuilding, but now I follow housing. It’s a little like saying I used to follow Global Warming but now I follow Climate Change. Here’s why—Millennials. Today there are 9 million more renters than just a decade ago. That is a ton, but what really caught my eye was that […]

Boosting Productivity in the Office

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Workspace design continues to be a hot topic. Last week, I talked about the huge issues that come with open design that we are now discussing with all of our clients. Below my comments is an infographic on a survey that Cort Furniture compiled on workplace trends. I follow it up with a bonus article on how designers are […]

The Open Office Trap

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Yes, open office is all the rage. But there is fallout (as I get older, I can now see there is good and bad in literally everything). Below is a contrarian view on the whole open office collaborative space perspective. Around 70% of all offices are now building open office environments. And with all this openness comes […]

Understanding The Office Market: Q1 2016 Phoenix Office Report

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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 […]

Game Changing Trend is Happening Right Now

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Each January, I attend Abundance 360 produced by Peter Diamandis. One takeaway this year was how fast driverless cars are becoming a reality. This will happen in our lifetime. Google autonomous cars have over 1,000,000 miles in Palo Alto (click here). Tesla has a new package that will drive your car on the highway (click here) and there are at least […]

Employee Engagement Sucks. Why?

Employee Engagement

I spend a ton of time working with my team on growing their individual skills, increasing our deliverables and really making sure we are engaged. As we work with big and small companies and I talk to our clients, engagement has become one of the most desired (and least attainable) traits in companies today. A few […]

Passive House Residential Ups the Ante

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This narrative is focused on all things commercial real estate. We also like to look outside our world to see what will be coming soon to a commercial project near you. Below is a short article about a building currently under construction on Cornell Tech’s Roosevelt Island Campus. In short, it is the first high-rise residential building […]

Square Feet Per Employee Continues to Drop

Real Estate- Space Per Worker in SF (2000-2014)

The amount of office space allocated for each employee continues to fall. Below is a graph and a short description why from Of Interest Today. While we all know it is happening, how does it affect landlords, tenants and investors? Depending on your perspective, you get massive differences:   Owners: Issues with parking shortage, not enough A/C to cool all […]

Cities as Digital Laboratories

Urban Planet

The Wall Street Journal did a detailed study on the urbanization of our world, and the challenges and strengths that come from this growth. Below are several interactive maps worth clicking on. Skip the first video unless you are into the topic, but be sure to pay attention as: –The world urbanizes –Key cities grow –Manhattan becomes Gotham […]

Massive Construction Labor Shortages

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I have been watching this trend unfold in the residential construction industry for the past year. Now it is spreading to all sectors. Contractors and subcontractors are having a heck of a time hiring to fill needs. In fact, 50% or more of all contractors and subcontractors are having issues. What does this mean for the market?   My […]

Millennial Design Influence in the Workplace

Millennial Design

Last week, I sent an infographic on the huge wave of Millennials and what that means to the workforce and real estate industry. Today, I want to take that discussion a step further and talk about how Millennials design and influence the workplace. Lisa Bentley with McCarthy Nordburg, provided me with two insightful articles below that you can […]

The Real Estate Industry & Millennials

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Below is a great infographic from UpNest on Millennials and buying residential real estate. Here are some stats that stand out: –25% of all Americans are Millennials (between 18 and 34 years old)–44.2% are minority or belong to an ethnic group–Within 10 years, 75% of the US workforce will be Millennials–75% want to buy (when they buy) a […]

47% of Jobs Created by Companies with Under 50 Employees and 9 Other Trends

ULI Forecast

Want to know a disconnect between Commercial office developers and job creation? Developers are building bigger floorplates while job creation is coming from small companies.    When I got into the business, office floorplates in Metro Phoenix averaged 10-15,000/sf. Today, new construction is looking at floorplates with a minimum of 25,000/sf all the way to 40,000/sf for multi-tenant office […]

State By State Business Tax Climate

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Below are a couple of handy charts. First, a graphic that shows the top 10 and bottom 10 states for taxes. I have also pulled a chart that shows state-by-state comparisons well. Not too many surprises, but here are a few highlights:   –California and New York have the highest taxes. –Arizona is in the middle, ranked 24th. –Texas has been […]

Coppola-Cheney: A Review of a Strong 2015

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2015 was another great year for our team. Please see below for a recap of our year by the numbers. As we head into our 25th year at Lee & Associates Arizona, we are excited about new opportunities and blessed to have great clients. Thank you for being a part of our future. Craig 602.954.3762 ccoppola@leearizona.com P.S.- In […]

Work in 2025

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In 10 short years, what will work look like? Gensler interviewed four futurists on this topic and below is the outcome. I have highlighted my biggest insights including these: –45% of Millennials are nonwhite. How will that affect the commercial real estate industry? Certainly the retail sector will be turned around as will all marketing campaigns. –How do real […]

How Do Star Wars and the Phoenix Office Market Relate? Q4 2015 Phoenix Market Report

2015 Q4

Seeing Star Wars Episode VII: The Force Awakens recently I cannot help but draw a parallel to the world of Metro Phoenix office leasing. Why? Because, like “the force,” net absorption awakened in 2015 posting 3.4 million square feet. This is the highest absorption since 2005 and has pushed our vacancy rate below 20% for the first time in eight years. (By […]

Maquiladora- What does that mean?

Several weeks ago, I talked about the PC 16 (please click here for the narrative) and how Mexico was one of the 16. I grew up in Sierra Vista, Arizona less than 20 miles from the Mexican border. I follow Mexican manufacturing, its economy and the maquiladora program very closely. The 50 year old maquiladora program allows a factory in Mexico, run by […]

300 and Counting

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Time flies. The market changes. Cycles occur. AND as of today, this is our 300th narrative. We have grown from 700 to over 28,000 weekly readers with an open rate that is double the industry standard. Thank you for your support and readership. For 2016, we are going to add some humor throughout the year…Please watch this thirty second preview before […]

Arizona to Lead in Job Growth

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Some good news for Arizona job growth (my key indicator for office space net absorption). In November, Forbes projected Arizona to lead the United States in job growth for the next couple years. Traditionally, Arizona has been a boom/bust cyclical state. Readers of this narrative know that this cycle, for the first time, we have not been in the top […]

The World’s Coolest Offices

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To finish the year off, I thought we would take a look back at the coolest office spaces across the world for 2015 as well as a few really special transactions that we have been fortunate to work on ourselves. This year we had the opportunity to work with great companies who built awesome spaces. Be sure to scroll […]

Take a Minute to Travel the World

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Happy Holidays! At The Coppola-Cheney Group, we have a culture of traveling the United States and the world. This year, 2015, was no exception. Below is our annual holiday card with photos we took of some of the coolest places on Earth. The slide show is just over a minute long, so take a look. We hope adventure is on […]

White Collar Jobs Going to Robots

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Robots are changing the world. We know that. Below are two articles that will update you on how the job market is changing with the advent of robots. First is an article that talks about five white collar jobs where robots are already replacing humans. How about: Lawyers—Software is here doing the job of attorneys who did document review. Try 1.5 million documents analyzed […]

Chasing Excellence

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Sometimes the perfect holiday gift comes without warning. Today is your lucky day! This week, my fourth book, Chasing Excellence, Real Life Stories form the Streets is available on Amazon. It’s the perfect stocking stuffer for friends and family. You can get it by clicking here.   On a serious note, I am so honored to share this book that I’ve written with our […]

More Housing and Job Market Updates

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One of the reasons Arizona has been a net in-migration state since its inception is because of our affordability. One key component of affordability is being able to buy a reasonably priced house. Click here to see my earlier perspective on the housing market. Arizona Residents can buy a house substantially below California and cheaper than most surrounding markets (The question is […]

Metropolitan Phoenix Housing Market at a Glance

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Job growth has muddled along nationwide. Housing has been even slower. But there are bright spots and Arizona is in the mix. Below are two different graphics, one on job creation and the other on the healthiest housing markets. I will be sending a specific Metro Phoenix housing narrative in the next week or two, but for now take […]

33 more rules for your family’s Thanksgiving touch football game

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Fifty-one weeks a year this narrative is informational, commercial real estate focused and, we think, the best in our field.  Not this week.  Once again we bring you Jason Gay’s Rules for Thanksgiving touch football.  Yay!   For me: –#5–A bit of pregame stretching. Puts down the box of blueberry muffins, stands up.  Ok that’s good […]

Is an LLC the Right Choice for my Commercial Real Estate Investment?

When I first got into commercial real estate, the Limited Liability Corporation (LLC) had just been created. It didn’t have any case history or track record.  With that in mind, I thought I would do a quick review to make sure the LLC is still the right structure for most real estate investments.  Turns out, it still is for the […]

Post China 16

Post China 16

Below is a infographic on the Post China 16 (PC 16) that fascinated me.  I know that China’s maturation has jumpstarted manufacturing growth in other countries.  What I didn’t realize is the sheer number of countries affected.  See below to grasp the number and diversity.   These countries include:   –All of Indonesia –Cambodia and Vietnam […]

Q3 2015 Phoenix Market Office Report

Pages from 2015 Q3 Lee National Office Brief

2015 is shaping up to be a lot like 2014 for the Metro Phoenix Office market: i.e. the continuation of the long, steady, climb out of the Great Recession.    Below is a link to our 3rd Quarter Phoenix Office Market Report and here is a brief summary:   The overall market had a great […]

The Rise of Real Estate Tech

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Over the past couple years, I have spent quite a bit of time thinking, researching and writing about Commercial Real Estate Tech companies (don’t worry, I will not do another five day series this January.  Ha).    Why? The second graph below says it all.      Here are some highlights from the article:   –NYC and Silicon […]

10 Things to Know About Commercial Real Estate Appraisal

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“Appraisal” is one topic that we spend very little time talking about, until you need to refinance or you are acquiring a new asset.  Below is a great summary article about appraisals.  Read it now, or store it away for when you need to recall what is important.  I have highlighted some key areas that have […]

Ten Ways Big Data Is Revolutionizing Supply Chain Management

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As an office broker, I am not usually asked about supply chain activities. Our industrial brokers, however, live it every day. There is a huge disruption happening in the supply chain. Below is some detailed (and slightly over my head) information on 10 ways big data (analyzing over 52 different sources) is disrupting the supply […]

Implantable Technology for Your Employees?

Okay, now things are getting creepy. Or I am just getting old fast. Below are the coming trends on wearable technology and now implantable technology and how it is changing the office worker. How about: –No more fobs to get into your office –No need to take your gym membership card to the gym –Swipe […]

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 […]

10 Questions To Ask Yourself Before Choosing an Office Space

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A good client of ours called last week as he was preparing for a company-wide meeting to talk about their office lease. It was an initial meeting to go over their future office needs and figure out if they would be renewing or relocating. He asked for a list of some questions they should be […]

Landlords Are Trying Not to Rent to Startups

LL and Startups_San Fran Graph

Across the country, the hottest markets have been those with a tech/startup employment driver. Other growth markets were locations with oil, but those are now mostly gone. Dead. This cycle, most markets are growing based on their ability to attract tech companies and startups. In Arizona, for the first time ever, this has been a large part of our net […]

SubTropolis: The Massive Business Complex Buried Under Kansas City

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You won’t believe what is happening underground in Kansas City. SubTropolis has been around since 1964, but I just found out about it thanks to Ann McCartney with Lighthouse Commercial Finance. Check out all the companies that have space in this underground industrial park. The entire thing is an excavated mine the size of 140 […]

The Impending Opportunity In Real Estate Technology

Impending Opportunity in RE

The tech market is hot. The Commercial Real Estate tech market is frothy. The reasons behind why there is so much interest in real estate right now are summarized nicely in my green highlights below. The market is gigantic.      I know I bored a few of you with my five-day-in-a-row slog of all the real estate start up […]

2015 Top Brokerage Firms

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While there are some crazy numbers on the below graph (52,000 brokers at CBRE), I found the information pretty interesting. There is a huge market consolidation occurring in the commercial real estate brokerage sector. We see this continuing as firms try to keep pace with global market coverage and try to be all things to all clients. Since […]

Part Two on Population — USA

Population Census Map

Last week, I talked about world realities. This week, the statistics on the US population, which are staggering.   –1 in 7 Americans live in one of three cities (New York, Chicago, and LA). –If you look at the top 10 largest cities, almost one in three people live in these. –America has become urban – […]

Population Realities — A Two-Part Series. Today–The World

Global Metro Monitor Map

Today and next week, I am going to spend a little time on population and share some interesting realities. Below is a link to a very cool interactive map from Brookings. To get more detailed information on the cities that interest you, click on the individual cities. Here are a few world realities: –300 places […]

Trends in Square Feet per Office Employee

Trends in Square Feet per Office Employee

It’s no surprise that square feet per office employee is declining. The open office concept is changing the world and the biggest user of office space in this cycle is…..Tech companies. But this trend has been coming for a long time; see the graph below. In addition to the SF per employee graph there are […]

Market Insight: Q2 2015 Phoenix Office Report

Q2 2015 Office Report_Page_1

Like the national office market, the Metro Phoenix Office Market is rebounding at a gradual pace. Last week Craig sent out a good update on the national office market from The Wall Street Journal. (Click here for his narrative in case you missed it) Today I’m sending you an update on the progress we’re seeing in Phoenix. The WSJ article mentions […]

Office Market Is on a Slow Roll

Office Market on Slow Roll_WSJ (2)

I just got a peek at our Q2, 2015 Metro Phoenix office numbers and once again we are mirroring the national office market. It’s a methodical and frustratingly-slow recovery. Andrew will highlight Phoenix in the next few weeks, but today I am focusing on the National office market. Below is a nice Wall Street Journal update on the national […]

4th Asset Class: Real Estate

RE Takes Its Place as the Fourth Asset Class_Page_1

Real Estate as the fourth asset class is finally becoming a reality. Why is this important? Well, the amount of capital that has and will flow into our industry is astonishing. Billions of dollars, an additional $500 billion to be exact. This money will make our market more liquid, provide for stability in markets and will change the way properties […]

Tech Firms Moving to the City

Google bldg

As competition for hiring millennials continues to increase, companies are trying to lure them by moving into the city to offer urban living as a perk. Is this a long term trend? For me, I think it is something that may continue for the next 5-10 years. But I believe that millennials will ultimately start […]

World’s Largest Indoor Farm

Indoor Farm 1

Below is an article on the most amazing use for warehouses—an indoor farm. This farm is 100 times more productive than traditional farms. Even if you have no interest in the topic, take a minute to scroll down and look at the photos. Here are some amazing facts: –25,000 SF of space –Produces 10,000 heads […]

70% of Americans Negative About Their Jobs?

Workers Hate Job

A recent Gallup study shows that 70% of Americans are negative about their job. That woke me up. A full 20% are actively disengaged and are trying to work against their company. The goal of this narrative is not leadership or coaching, but rather bringing office space users topics of interest. We spend all our time, every day making sure our tenants […]

Larry Ellison Bought an Island in Hawaii

Larry Ellison 1

Buying an island is a very cool thought. Who would not want that? The island in Hawaii that Larry Ellison now owns 97% of is no ordinary tiny island. Quite the opposite, it is 90,000 acres. Just throw in $300 million, buy an airline to service the place and you could have something cool. Think it sounds like paradise? Not so fast. The island has […]

Operating Expenses? Yes! And It’s Important.

2013 Metropolitan Phoenix Suburban Office Bldg_Page_2

For the past 30 years we have been analyzing operating expenses for the tenants we represent. It’s vital for tenants to understand how operating expenses work because this is a huge potential long term and expensive hidden cost. Here are a few items to watch out for in a tenant lease: –Not getting a grossed […]

The Rise of Robotics

Robot Dog Video

As you know, I make my living in the office space market. However, I still like to keep up with trends outside of the industry and how they will eventually affect office space. Below is an article about the megatrend now taking place in robotics and what amazing changes are occurring. One of the reasons job recovery has been slower […]

Nesting in Office Space Design

Google's Nested Approach to Offices

OK, so I am not sure if this is pure genius or complete BS. Then again, I know nothing about anthropological research. Below is a short article that discusses the cultural norm of approximately seven people being the ideal group size. Your teams should be seven (plus or minus two), and your office space groups should be the same. Why? –The team can […]

Hiring a RE Expert for Litigation

Considerations for Selection of a Real Estate Expert_Page_1

The first 15 years in brokerage, I occasionally took assignments as a real estate expert in litigation. I stopped for a number of reasons, but primarily because I could not figure out how to be great at brokerage and be great as a real estate expert in litigation. I know only a small portion of the readers will […]

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 […]

The Changing Face/Space of Parking: Impact on Commercial Real Estate

The Changing Face_Space of Parking_Page_1

Last year, we sent an article to a select few Landlord clients that we work with who own buildings. That email was one of the most opened narratives we have ever sent. The topic?—Parking lot security. I didn’t see that coming.    Inspired by that email, below are two cool articles about what is going on in the modern […]

Coolest Technology that Could Affect Commercial Real Estate

Smart Solar Roadways 1

Today, I want to share with you a company that has a wonderful idea. If they can get this commercialized, it would revolutionize parking lots and roads. Imagine solar panels as surfaces in parking lots, roads and even highways. This is a short article with just some highlights. I would love to see the day where an abundance of our […]

A Timeline of Lease Accounting

For the past couple years, we have been tracking the proposed law change that will reclassify the way businesses account for their commercial leases. Since 1977, a company’s office lease has been treated as an operating expense. Businesses may soon be forced to record it on their balance sheet under new accounting rules. If this new […]

WeWork: Now a $5 Billion Co-Working Startup

WeWork 1

Over the years, I have leased space to several executive suite operators. These “tenants” lease a large amount of space, then re-lease it to small tenants sharing conference rooms, administration services, etc. During the last recession, most of them closed down leaving a specialized kind of operator - small, local and personal. Regus is the only international company that made it through […]

Buildings That Move???

Moving Building

Dynamic Architecture is designing a whole new way to build buildings AND each floor moves independently while rotating. Pretty cool, huh?    Here are some highlights: 1—Each floor rotates 360 degrees, independently or in a concerted manner. Much like the fancy restaurant at the top of a building we have all been to, but in these buildings every floor rotates. […]

Functional Office Space Basics

While we represent office tenants and landlords each and every day, we are always looking to give our clients basic, simple advice. Below is an article that does this for creating functional office space. When we work with our tenant clients, we focus on the basics like: 1—Determine how much space the company will need (I […]

Pressed Suits in Your Office?

Pressed Suits

Leave it to The Economist to call squeezing office space “pressed suits.” Not only is office space becoming more open, it is becoming less personal. Mobile workers and the fact that 50% of all workers are not in the office at any given time, have led to no personal desk environments. In many offices, you show up and get assigned a desk […]

Commuter Science

Commuter Science

Every now and then I see a cool graphic that I need to share. Below is one I pulled from National Geographic on commuting and how much time is spent per year in rush hour all over the world. My home of Phoenix is pretty low, but if you live in London, Stuttgart, Paris or Los Angeles—sorry. […]

World’s Coolest Offices 2014

Coolest 1

Once a year I send out the coolest office spaces in the world. Below is the 2014 version. Take a look at some really off the wall, crazy and cool spaces. The article is so big, we had to put just a few of the photos below, but a link to the entire article is just a click away highlighted […]

Where Everyone in the World is Migrating – in One Gorgeous Chart

Migration

World migration is not a typical topic on my mind. However, the immigration from Mexico to the US is. You see, I was raised in a city less than 20 miles from the Mexican border. My parents still live in Sierra Vista, ground zero for the illegal immigrant movement and the border patrol. So immigration is a topic […]

The Coppola-Cheney Group: A Look Back at a Solid 2014

By The Numbers 2014

Once a year, I like to take a break from my weekly narrative to do two things: First, I like to look back and see how we did in 2014 as a team. Below is our year by the numbers. It was a fine year. I am grateful for our clients and proud of the work we […]

What Happens When You Sit All Day?

I have been working a lot over the past few months. Sitting, typing, meeting. Sound familiar? Below is a cool infographic on what happens when we sit all the time. The results are not very good. So I have highlighted in yellow some ways to offset all the sitting. Doing some cat/cow yoga postures in the office is always fashionable, right?    On […]

Top 10 Emerging Trends in Real Estate for 2015

The Urban Land Institute is a thoughtful group of committed real estate practitioners who are global in their membership and thoughts. They have recently produced their emerging trends for 2015. You can click here for the complete document. Below I have included a few pages of Chapter 1 for a quick review, the entire document is lengthy.    Here are my personal highlights—most of […]

Day 5: The One Commercial Real Estate Tech Company that Changed Our World

In my final narrative for the week, I thought I would end with the company that I believe has made the most impact on our business: CoStar. Before CoStar, all companies had to do their own property research. This was time consuming and expensive. When I first started in the industry, each quarter, every broker in our firm had to […]

Day 4: Tech Companies Trying to Eliminate/Assist Commercial Brokerage

Hope you are finding this week’s series interesting. We are in the homestretch. Below are six additional companies to review. Zillow is probably the only household name among them. Enjoy. Craig 602.954.3762 ccoppola@leearizona.com   Company Name:  http://www.gethightower.com/ Upper Management: Brandon Weber, CEO Donald DeSantis, CDO Niall Smart, CTO Business Strategy: Hightower’s strategy is two-fold: One, to sell software to owners who […]

Day 3: Tech Companies Trying to Eliminate/Assist Commercial Brokerage-First Six

Over the next two days, we will review 12 different technology companies that are in the commercial real estate space. Before I look at the companies that are trying to take business from commercial brokerage companies, a little background is necessary. I want to break the commercial brokerage industry down into two key segments: leasing and investment sales. […]

In The Know: Phoenix Office Report Q4 2014

A lot can happen in a year. Our fourth quarter 2014 Phoenix Office Market Report came out last week and it looks noticeably different than our Q4 2013 report. Below is a link to the report and here’s a brief summary: The metropolitan Phoenix office market absorbed 620,000 net square feet (SF) in Q4 to push […]

My Third Book is Now Available: The Art of Commercial Real Estate Leasing

Final Front Cover - The Art Of Leasing

I have spent almost 100,000 hours of my life committed to leasing commercial office space. After completing 3,500 commercial lease transactions and 30 years in the business, I decided to write the follow up to my first book How to Win in Commercial Real Estate Investing and have now written a book on commercial office space leasing. The […]

A Floating Neighborhood for NYC

NYC Floating Skyscraper

When density meets demand, creativity pops up. What the??? New York is planning to create a whole neighborhood for 65,000 people OVER an active rail yard. See below for some cool renderings and a moving graphic that is worth watching. To summarize: –They will build 300 concrete and steel caissons that will be inserted 40-80 feet into the ground.  –Then […]

Competition Is for Losers

Competition is for Losers

Today, I want to have a discussion about competition. Peter Thiel’s, founder of PayPal, article below got me thinking about basic lessons I learned in college 30 years ago and have experienced every single day since. The commercial brokerage business is brutal. Eighty percent of people who come into our business are gone within five years. Those of us […]

Another Look at the Corporate HQ for Tech Companies

Tech_12_ NY Times

In the beginning of 2014, I ran a five-part series on the new gigantic and expensive corporate headquarters that are being designed and built by the leading tech companies in the world. As we close the year, the NYT ran an updated article (we have included it below) on most of the headquarters we researched. They also had a […]

Cozy in Your Cubicle? An Office Design Alternative May Improve Efficiency

cozy cubicle

Open office design, benching, and cool space layout have been topics we have discussed over the past few years. Below is a very interesting article on the start of the open office space movement and why it failed miserably. Today, we are seeing open office layouts in over 70 percent of new space designs. That does not mean the C-Suite […]

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 […]

One Commercial Real Estate Tech Industry to Watch Close for the Good AND the Bad

Crowdfunding 1

Crowdfunding has become a hot market for all kinds of ideas, such as the potato salad guy who raised over $55,000 for his recipe (Click here to learn more). The commercial real estate market is not immune to this new trend. With the passage of a new law, there has been a 334% increase of crowdfundings in commercial real estate properties year […]

Spheres of Influence

OIT - 787 Structure Suppliers

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 […]

More Rules for Thanksgiving Touch Football

Touch Football 2014 _1

Once again, Jason Gay usurps any business narrative for this week. His rules for Thanksgiving have become a tradition for us to send out and this year is no exception. See below for all his rules, but I loved these three in particular:   —#13–While I love SEC football, this is great. – “No, SEC family thanksgiving touch football is […]

7 Bold Commercial Real Estate Predictions

7 bold r.e. predictions

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 […]

Downsizing and Space Utilization

Increasing space utilization is a goal almost all of the tenants we represent have. Below is an article that discusses the inherent difficulties of attaining the perfect space and layout. At the end of 2013, tenants were space planning to 180 SF per person. As described in this narrative previously, this brings a large number of issues to the forefront, […]

Are you in an unhealthy office relationship?

Below is a cool infographic on some of the issues affecting workspace. This includes air quality, temperature variations, natural light, and, of course, noise in any open environment. I really like the summary of unhealthy and healthy office space situations. If you are looking for space, make sure you think about these issues as you design your office. If you are […]

Market Insight: Q3 2014 Phoenix Office Report

Q3 2014 Phoenix Office Market Report_Page_1

Finally, some good news. The Metro Phoenix Office posted just under 800,000 SF of net absorption for the third quarter. A significant number of the tenants I talked to while canvassing buildings have either just expanded or are considering expanding in the near future. Despite the strong absorption, vacancy remains high at 21.6% across the entire market. Except for […]

Burnout Is the Consequence of a Broken Way of Work

photo-2

Some of the below article is complete new-age BS. I do think, however, that there is some value in giving it a quick overview, focusing on a few key items. I hope you can get a gem or two out of this article as you get closer to the end-of-the-year review process for your team. For my team, I know we don’t […]

Modern Floating Home and Tunle Sap

Floating House2

This week, I have an article, some cool photos, and a very different narrative from my usual e-mail. I recently found an article and some photos about a very cool floating home–see below. This home got my mind racing to a place called Tunle Sap.   A few years back, I had the opportunity to take a fabulous trip […]

An Analysis of U.S. High-Rise Construction Activity in This Century

high-rises

Below is a 2013 article Andy Conlin sent me analyzing high-rise construction in the United States. David Holmes takes an in-depth look at the major economic factors affecting skyscrapers (defined as buildings 18 stories or higher in this article) built since 2000. This timeline would include only one construction cycle and two recessions, but the conclusions are interesting. I’ve […]

The Most Expensive Cities in America

beverly hills

The decadent lifestyles of the rich are more unbelievable than ever. Foreign cars, luxury homes, and all the toys that go along with the money. Below I’ve combined a couple articles about the most expensive cities in the US where these people are living. Click through to the interactive map in the first article to see […]

Transbay Tower To Become “Salesforce Tower” With Monster Lease

Salesforce HQ

Jealousy can be a terrible thing. In this case, I am so jealous of the latest monster lease done in San Francisco: 714,000 SF lease with a 15 and a half year term. Hats off to them. While I have done plenty of large leases, I have not yet negotiated a 700,000 SF+ lease.   OK—Who on this email wants to […]

World’s Top 15 Megacities–Growing and Growing

I am a third generation Arizonian. When I was born in Tucson in 1961, the population of Phoenix was 440,000. Today there are over 4.3 million in metro Phoenix making us the 13th largest metropolitan area in the US (see Top 13 areas below). Growth is expected to continue like crazy and by 2050, we should have over 7,000,000 […]

5 Measures of Arizona’s Economy As Fall Season Arrives

AZ economy_fall 2014

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 […]

Arizona’s Water–A Quick Overview/Status

AZ water

As I speak to out-of-state users, owners, and investors, one of the most popular topics I get to discuss is water. The general feeling by out-of-state people is that Arizona is a desert and we are running out of water. Not true. Below is a great summary written by the local paper, The Arizona Republic, that covers the top 5 reasons […]

Market Knowledge: Phoenix Office Report Q2 2014

The Phoenix office market continues to slowly improve. Too slow for my taste, but improvement is always good. Unless you are in Tempe, Chandler or Scottsdale, the market is not improving as fast as owners and investors would like. Lee & Associates Arizona released its second quarter Office Market Update in July and showed that success these […]

Government’s Empty Buildings Are Costing Taxpayers Billions

govt

Here is an interesting idea: a database of buildings you own and whether or not they are occupied. Seem simple? Turns out, not for the federal government. Estimates show they may own up to 77,000 buildings that are empty or not fully utilized. The cost to keep them amounts to more than $1.7 Billion per year. So, why […]

Top Ten Issues Affecting Real Estate

One of the most thoughtful organizations in commercial real estate is The Counselors of Real Estate. I have been a long time member and find their membership and work output to be outstanding. In June, we published our top 10 issues affecting real estate. Below is that list. My favorite topic over the past six […]

Headphones Are the Latest Office Accessory

headphones

I am always on the lookout for new trends in the Commercial Office market and potential side effects/tangents. You may recall in a previous narratives my ongoing discussion about “open plan” office space. Since I was one of eight founders of Lee & Associates Arizona in 1991, we have worked in this type of environment. […]

This Is Not Your Ordinary Call Center Space

zappos

For years, US-based companies outsourced their call centers overseas to save money. In many cases, this created a backlash from customers because of poor language skills, limited knowledge of the product and an inability to get through to someone who could actually help solve your problem. We did a deal with an India based company called Tata a […]

Tiniest Homes on Earth

tiny homes

I have sent you $100 million homes and condos that are now reaching that same level. I sent the top ten land owners including Ted Turner who once again was the top land owner in America with over 2,000,000 acres. Today, you get to see the world’s smallest homes. How small? Less than 500 square feet. […]

Week 3–The Changing Office Market…Into Condos??

Vancouver_1

I have bemoaned this anemic job recovery to no end. Without jobs, office space is difficult to lease. One outcome of this slow recovery is that owners and developers are getting creative with their buildings. Or, more likely, the new owners who bought the building from the bank that reposed the project are now redeveloping […]

Week 2–Most Expensive Condos in the World and Who Owns Them

taleoftwolondons

Normally, I am focused on office space, employment numbers, trends and wild-looking buildings and spaces. This week I’m looking at something a little different, but still following the major themes. Below is a long but fascinating article about the most expensive condos in the world and who owns them. Written as an investigative piece by Vanity […]

First We Send You $100 Million Homes, Now Apartments–A 3-Week Report

new york

I got some really interesting replies from my narrative about $100 million dollar homes. I knew there was a bigger market for homes worth less than that, but the amount of condos selling for $50 million or more is amazing – Condos – No yard. Below is some of the craziness going on now in […]

Floating Office for Startups? Let’s Get Outside of the Box Today

floatingpics

I love entrepreneurs. I have no idea if this will work, but I saw this company and looked over the website and thought what a creative mind. AND of course, what creative office space. Blueseed (http://blueseed.co/) is a group trying to raise money to build a ship that will sit 12 miles off the coast […]

The Top 12 Ingredients in Site Selection You Need to Know

GPEC

Recently, I attended an interesting event on site selection at the Greater Phoenix Economic Council’s (GPEC) office downtown. They hosted a panel of corporate site selectors from New York, Texas, California, Ohio and Colorado who discussed their criteria when choosing a city and project. These types of events are exclusive to members of the GPEC […]

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

fastestgrowingcities

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

Jobs

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, […]

American Cities May Have Hit ‘Peak-Office’

peak office

I had never heard of the term “Peak Office.” In simple term, Peak Office is like Peak Oil, where the market for the future is less than the past. (Just for fun, I included a peak oil graph below. If you want to read more about Peak Oil, here is a link to a short […]

My Investment Book is Published!

How to Win Final Cover

Earlier this week I sent out a narrative on investors and what kinds of yields they look for when investing. One of the reasons I founded Lee & Associates in 1991 (along with seven other Principals) was to become an investor in Real Estate. Since 1991, I have brokered hundreds of building sales but more importantly, I have […]

Reaching For Yield: The High Risk of Investments

One of the most intellectual groups I belong to is the Counselors of Real Estate. It is an invitation-only group of 1,000 people all over the world. They vet each candidate extensively. Now that I write that, I’m wondering how I got invited to join.   Anyway, at the annual convention, they had one of the most interesting […]

Highlights From an Interview with the Legend, Sam Zell

Sam Zell is one of the true giants in the commercial real estate industry. He is a genius and has crossed every product type and market across the United States. I have highlighted some of his comments below from his interview at the Urban Land Institute Fall meeting. Here are a few “gems” I found […]

Market Insight: Phoenix Office Report Q1 2014

q1officereport

Want to know the latest trends in the Phoenix Office market? Here’s what’s going on: Our first quarter Office Market Report was just released this week with some interesting stats. We had an excellent quarter for net absorption, the most important measure of the market’s health. We absorbed 727,000 SF, and if we keep that pace up, […]

Landlords: How Safe Is Your Parking Lot?

parking lot

I just picked up the latest copy of NAIOP’s Development magazine this week and saw this article on parking lot safety. It’s something we typically take for granted in office properties, but it’s important to consider as a building owner. As you design new buildings or redesign existing properties, you may want to keep some of these […]

NAIOP’s ‘Office of the Future’ Competition

Entry Street

Last year NAIOP held another office of the future competition. Below are the four finalists and their concepts. Here is a summary: –Hickok Cole out of Washington DC suggested a building with a second “skin” that could help filter sunlight and change as heat and light change. –Miller Hull from Seattle talked about adaptability where contemplation and collaboration are designed into the […]

The Construction and Leasing of One World Trade Center

worldtrade-2

Like most Americans, I followed the terrorist attack on the World Trade Center closely. Unlike most, I have continued to track the progress of the redevelopment with interest because of the office space component. Today, you get a quick update on the office space and some interesting thoughts. First, we are now into 2014, and the tower is being […]

Design Forecast for 2014–Six Meta-Trends

Gensler1-1

Each year Gensler puts out a very informative marketing and informational piece that I find fascinating. I copied a couple of the key pages from this year’s piece and they are below. Get your reading glasses out or just see my highlights. They talk about Six Meta-Trends: –Mobility and performance—I have spent a lot of time on the mobility […]

Thoughtful Outlook for Office Space in 2014

Annually, I review a large number of commercial office research. Below is a link to the UBS Global Asset Management US Real Estate Market Outlook 2014. With all of the cumbersome reports published, I find this one to be very concise and insightful. The entire report is 28 pages but we have included the key office pages below. Many trends […]

Week 5: The Best for Last or at Least the Most Expensive–Apple’s New HQ

Apple Insider1

Eighteen months ago, I sent out the initial renderings of Apple’s new campus. Now you get an insider’s view. “Apple Campus 2,” as it is called, looks like a spaceship that has landed and the price tag is out of this world as well. Five billion dollars. This was Steve Job’s last big project he […]

Week 4: Some Normalcy–Samsung’s North American HQ

Samsung HQ 2

We have spent the last three weeks looking at billion dollar spending binges by some of the most well-known companies in the tech industry. I am taking this week to get back to the real world, but just for a week. Next week, we will take a trip to somewhere out of this world in […]

Week 3–Google’s New Headquarters and a Bonus

Google HQ 1

Continuing our tour of billion dollar plus new headquarters, we turn to Google. Google is planning on building nine buildings with the now familiar pedestrian and bicycle friendly environments. When completed, this 1.1 million square foot project in Mountain View, CA, will be comprised of nine fairly traditional buildings connected by “messy” courtyards. Below is a bunch of renderings that […]

Coppola-Cheney Recap a Strong 2013

9

I know you were expecting a cool corporate headquarters narrative. Sorry. Every week you get a narrative from me about the office market, real estate or some other story I find interesting. Our real job is providing world class service representing office tenants and landlords in the Metro Phoenix market. We had a great year. Below is a […]

Week Two of Our Five-Week Review of the New Corporate Headquarters–Amazon

Amazon2

Last week started our five week review of new corporate headquarters with a review of Facebook’s billion dollar investment. Today, we move north to Seattle and Amazon. Can you believe Amazon has spent $1.4 BILLION in just the past 12 months on building a headquarters they are now calling a company town? Facebook wanted a low rise, garden feeling while Amazon is going with spheres […]

A 5-Week Review of New Corporate Headquarters – First up: Facebook

Facebook4

Some of the world’s biggest companies are designing and building World Headquarters. These are not just your run-of-the-mill buildings, rather they are unbelievable in scope and design. AND the companies we analyzed are taking dramatically different approaches. Enjoy the designs, thoughts behind them, and a more intimate understanding of the companies themselves. First up is Facebook. Over the past […]

Q4 2013 Office Market Report

Our fourth quarter 2013 Office market absorption numbers came out last week. A short summary: We are making progress but absorption fell below expectations. We concluded the year just under 1.3 million SF of net (not gross) absorption. Net absorption is the true measure of a market’s performance. The net absorption in 2013 was down 36% from 2012, however, we beat […]

5 Years After The Crisis, Big Banks Are Bigger Than Ever

First, a disclaimer: I am a capitalist. I believe free enterprise is flawed, but that it is, by far, the best system to create wealth and operate a country. Below are two articles that show what is happening with banking in the US. First is a graph and quick article comparing the four largest banks in 2008 vs. 2013.  The US government has created an environment […]

The Slow Death of the Private Office

I continue to track the development of the new, collaborative office place including the new headquarters of some of the biggest companies in the world. But, there is starting to be increasing backlash against the open office space. I came across the article below in Fortune that details some of the negatives of having an open work space. Certain companies rely […]

Top 20 Most Unusual, Unique And Exotic Buildings of the World

Unique Bldg 12

Valued Customer–In my pursuit to provide the most informative narrative of office buildings, space, representation, and in general, interesting articles, I never thought I would be sending something with buildings in the shape of a shoe, a piano, and a picnic basket. Well, I am and here they are below - the “Top 20 Most Unusual, Unique and Exotic Buildings of the […]