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 … Continue reading Another Look at the Corporate HQ for Tech Companies
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 … Continue reading Cozy in Your Cubicle? An Office Design Alternative May Improve Efficiency
Hivewyre (formerly adhesive.co) originally signed a lease at SkySong3 in July 2014, and now they are expanding! Hivewyre is an online advertising co-op, and is a perfect fit at Skysong with their collaborative and innovative nature of business. If you are interested in learning more about what SkySong has to offer please give us a … Continue reading Congratulations to Hivewyre on their expansion at SkySong3!
Congratulations to SST on their continued stay at Arrowhead Business Center in Glendale. If you are interested in finding out how Arrowhead Business Center can be the home for your company, give us a call!
Skysong3 gains another great tenant! Congratulations to Safari Books Online on their new home at SkySong3.
We were grateful to represent FCA Fund Phoenix 1, LLC in the sale of their property, Desert Ridge Corporate Center located at 20830-20930 N. Tatum Blvd. in Phoenix.
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 … Continue reading Employment Growth – Employer Payroll Survey vs. Household Survey
Solugenix is relocating their office to the recently completed SkySong 3 office building. SkySong Center is one the most dynamic centers for innovation and technology where cutting-edge companies come together to collaborate and grow. Learn more about Skysong at www.skysongcenter.com.
Congratulations to Guardian Mortgage on their new lease at 6929 E. Greenway Road in Scottsdale. The Coppola-Cheney Group represented Furst properties, owner of Hilltop, in this transaction. Furst Properties owns and manages seven Class A buildings in North Scottsdale. Call us to find out more information!
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 … Continue reading One Commercial Real Estate Tech Industry to Watch Close for the Good AND the Bad
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 … Continue reading Spheres of Influence
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 … Continue reading More Rules for Thanksgiving Touch Football
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 … Continue reading 7 Bold Commercial Real Estate Predictions
We were grateful to represent Furst Properties in helping negotiate Bank ’34’s new Lease in The Pinnacle in Kierland IV at 14850 N. Scottsdale Road, Suite 100 in Scottsdale.
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, … Continue reading Downsizing and Space Utilization
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 … Continue reading Are you in an unhealthy office relationship?
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 … Continue reading Market Insight: Q3 2014 Phoenix Office Report
Congratulations to the Alliance of Arizona Non-profits on their relocation to 360 E. Coronado, Suite 120, in Phoenix. The Alliance of Arizona Nonprofits is a unifying association formed in 2004 to advance the common interests of more than 20,000 nonprofits in the Grand Canyon State. They are a statewide organization of, by, and for all … Continue reading Alliance of Arizona Non-Profits Moves to 360 E. Coronado
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 … Continue reading Burnout Is the Consequence of a Broken Way of Work
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 … Continue reading Modern Floating Home and Tunle Sap
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 … Continue reading An Analysis of U.S. High-Rise Construction Activity in This Century
We are excited to announce that our listing SkySong 3 has officially gone “green” by achieving the elite Silver LEED (Leadership in Energy and Environmental Design) certification from the U.S. Green Building Council. http://cem-az.com/skysong-3-building-awarded-leed-silver-certification/ SkySong 3 Building Awarded LEED Silver Certification SkySong 3 has officially gone “green.” The four-story, 145,000-square-foot office and research building at the … Continue reading SkySong 3 achieves LEED Certification
Congratulations to TASER International on their expansion to the beautiful Pinnacle in Perimeter Center at 17851 N. 85th St. in Scottsdale. TASER was founded in 1993 and has remained committed to providing solutions which Protect Life, Protect Truth, and Protect Family. Taser’s industry-leading Conducted Electrical Weapons (CEWs) are used worldwide by law enforcement, military, correctional, … Continue reading Taser Signs Office Lease at Pinnacle In Perimeter Center
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 … Continue reading The Most Expensive Cities in America
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 … Continue reading Transbay Tower To Become “Salesforce Tower” With Monster Lease
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 … Continue reading World’s Top 15 Megacities–Growing and Growing
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 … Continue reading 5 Measures of Arizona’s Economy As Fall Season Arrives
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 … Continue reading Phoenix Housing Double Dip Recession?
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 … Continue reading Arizona’s Water–A Quick Overview/Status
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 … Continue reading Market Knowledge: Phoenix Office Report Q2 2014
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 … Continue reading Government’s Empty Buildings Are Costing Taxpayers Billions
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 … Continue reading Top Ten Issues Affecting Real Estate
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. … Continue reading Headphones Are the Latest Office Accessory
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 … Continue reading This Is Not Your Ordinary Call Center Space
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. … Continue reading Tiniest Homes on Earth
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 … Continue reading Week 3–The Changing Office Market…Into Condos??
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 … Continue reading Week 2–Most Expensive Condos in the World and Who Owns Them
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 … Continue reading First We Send You $100 Million Homes, Now Apartments–A 3-Week Report
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 … Continue reading Floating Office for Startups? Let’s Get Outside of the Box Today
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 … Continue reading The Top 12 Ingredients in Site Selection You Need to Know
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 … Continue reading Highlights from Arizona State University’s Annual Economic Outlook
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 … Continue reading Comparing the U.S. and Phoenix Economies
Congratulations to Chargepoint, Inc. on their new office located at 9150 E. del Camino, Suite 108 in Scottsdale! Chargepoint is the largest and most open electric vehicle (EV) charging network in the world.
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, … Continue reading A Look at the Numbers Behind the Current Headlines About Job Creation
Congratulations to Mainstream Energy Corporation on their expanded space at Pima Center 2C, located at 8444 N. 90th St., Suite 105 in Scottsdale! Mainstream Energy is one of the largest solar companies in the U.S.
Congratulations to Kohlhase Insurance on their continued stay at Arrowhead Business Center at 7075 W. Bell Rd., Suite A-6 in Glendale!
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 … Continue reading American Cities May Have Hit ‘Peak-Office’
Congratulations to Back To School Clothing Drive Association on their new location at 360 E. Coronado in Phoenix! Back To School Clothing Drive Assoc. provides items such as clean clothes, shoes that fit, and a backpack stocked with school supplies (and more) to high-need children throughout Arizona.
We were fortunate to represent Ryan Companies in the sale of a piece of land at Loop 101 & Tatum Blvd. to Mountainside Fitness for their new location in the Desert Ridge Corporate Center. We have more available spaces there! If interested, please contact us at: (602) 912-3536 or firstname.lastname@example.org
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 … Continue reading My Investment Book is Published!
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 … Continue reading Reaching For Yield: The High Risk of Investments
Congratulations to Sinchak and Associates on their new office space at Pima Center in Scottsdale! The Coppola-Cheney Group represented the owner of Pima Center in this transaction. Pima Center is a corporate office park in a great location right off the 101 and Via de Ventura. Contact us to find out about more opportunities at … Continue reading Sinchak and Associates is now located at Pima Center
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 … Continue reading Highlights From an Interview with the Legend, Sam Zell
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, … Continue reading Market Insight: Phoenix Office Report Q1 2014
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 … Continue reading Landlords: How Safe Is Your Parking Lot?
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 … Continue reading NAIOP’s ‘Office of the Future’ Competition
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 … Continue reading The Construction and Leasing of One World Trade Center
Below are the five big trends in office design for 2014. Guess what? I have been ALL OVER these trends for the past two years. Talk about getting cutting edge info before it is cutting edge—read it right here and be ahead of the game. Seriously, the five trends are things I have spent a lot of time … Continue reading Colors and Productivity — 5 Big Trends in Office Design and Colors and What They Mean
Congratulations to Iridium Satellite Phone Communications on their continued stay at Rimrock at ASU Research Park at 2030 E. ASU Circle in Tempe! Iridium is the World’s only truly global mobile satellite communications company, with voice and data solutions covering every inch of the Earth’s surface.
We are excited to announce that Urias Communications has a new office location at 5050 N. 40th St., Suite 280 in Phoenix! Urias Communications is a local and national award-winning advertising, community and public relations agency, specializing in connecting their clients to the growing multicultural markets of the U.S. Southwest.
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 … Continue reading Design Forecast for 2014–Six Meta-Trends
We are happy to announce that Creative Marketing International Corporation has a new office location at the Transamerica Research Center at 7855 S. River Parkway, Suite 114 in Tempe! Since 1984, Creative Marketing has partnered with annuities, life insurance and securities producers to help them find the best products for their clients, market their services, … Continue reading Creative Marketing International Corp. moves to Transamerica
Congratulations to Mission of Mercy, Inc. on their new office location at 360 E. Coronado, Suite 160 in Phoenix! Since 1994, Mission of Mercy has served many communities by providing free healthcare, free dental care and free prescription medications.
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 … Continue reading Thoughtful Outlook for Office Space in 2014
Congratulations to DHI Title of Arizona, Inc. on their continued stay in the Arrowhead Business Center at 7025 W. Bell Rd., Suite C-2 in Glendale! DHI Title is a title insurance agency that prides itself on consistently providing an unexpected level of care and service to the Client, compelling him/her to become a “Customer for … Continue reading Congratulations to DHI Title on their new space at Arrowhead
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 … Continue reading Week 5: The Best for Last or at Least the Most Expensive–Apple’s New HQ
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 … Continue reading Week 4: Some Normalcy–Samsung’s North American HQ
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 … Continue reading Week 3–Google’s New Headquarters and a Bonus
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 … Continue reading Coppola-Cheney Recap a Strong 2013
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 … Continue reading Week Two of Our Five-Week Review of the New Corporate Headquarters–Amazon
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 … Continue reading A 5-Week Review of New Corporate Headquarters – First up: Facebook
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 … Continue reading Q4 2013 Office Market Report
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 … Continue reading 5 Years After The Crisis, Big Banks Are Bigger Than Ever
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 … Continue reading The Slow Death of the Private Office
Congratulations to LearnVest, Inc. on their new space in SkySong II at 1375 N. Scottsdale Road, Suite 310! LearnVest empowers everyone to take control of their personal finances by providing expert advice and resources, and financial plans that fit your budget.
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 … Continue reading Top 20 Most Unusual, Unique And Exotic Buildings of the World