Categories Economy, Narrative, Office Market

10 Issues Affecting Commercial Real Estate 2017

One thing I constantly stress to my team is that to be successful in this industry, you have to be willing to learn and adapt to the times, or quickly become obsolete and watch your business disappear. As a 20+ year Counselor of Real Estate (CRE), I love our annual top ten issues affecting commercial … Continue reading 10 Issues Affecting Commercial Real Estate 2017

Categories Narrative

Gratitude

In addition to this narrative, I also write a weekly blog called LIFEies, based on the 18 rules from my book The Fantastic Life. This week’s LIFEies discusses the many reasons to give thanks, and how cultivating a thankful heart is one of the biggest advantages we can have in life. You can read that blog here. I’m thankful for each of you … Continue reading Gratitude

Categories Economy, Narrative, Office Market

1-Minute Phoenix Metro Office Update: Q3 2017

The Metro Phoenix office market continued on its eight-year positive course, albeit at a slower pace, for the 3rd quarter of 2017. As any athlete will tell you, a win is a win and all the [market] players will take it.  The 216,037 SF of office space absorbed fell short of expectations, however, some large leases were … Continue reading 1-Minute Phoenix Metro Office Update: Q3 2017

Categories Narrative, Office Market

Traditional Retail is Dead

By next year, 36 million square feet of retail space could be vacated and returned to the market. It’s official – the global landscape of retail is changing and changing rapidly. These changes are driven by a combination of growing e-commerce use and a demographical shift in consumer behavior, which prioritizes experience over tangible goods. … Continue reading Traditional Retail is Dead

Categories Narrative

Is the Pendulum Swinging Back?

As technology has advanced over the past decade, the number of freelance and remote office professionals has increased dramatically. With only an internet connection, employees can work virtually anywhere, and many companies are embracing the perceived benefits (including less money spent on office space) of allowing employees to work remote.However, among this trend, IBM announced a … Continue reading Is the Pendulum Swinging Back?

Categories Economy, Narrative, Office Market

2-Minute Phoenix Metro Office Update: Q2 2017

The second quarter was not quite as busy as the first, but there is still good news as our market slowly (painfully slow) continues to improve.  Vacancy held steady at 18.8% despite new construction, and we continued our streak of continuous positive net absorption (job growth).  We haven’t had negative net absorption since 2009. The pace of … Continue reading 2-Minute Phoenix Metro Office Update: Q2 2017

Categories Design, Narrative, Tech Industry

Finally! A Possible Solution to Thermostat Wars

Finally. Maybe? No shot!!  Those were my immediate thoughts when I read the below article.  The war over office temperatures has been fought for decades. The ability to heat and cool their space for themselves, is one of the biggest issues our tenants have. In Arizona, this is compounded by the heat and sunlight beating on … Continue reading Finally! A Possible Solution to Thermostat Wars

Categories Narrative

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 … Continue reading Evolution of Work

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Update: Q1 2017

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 … Continue reading 1-Minute Phoenix Metro Office Update: Q1 2017

Categories Narrative, Tech Industry

Shipping Containers and Farming?

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 … Continue reading Shipping Containers and Farming?

Categories Architecture, Narrative, Tech Industry

A 3D-Printed Building?

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 … Continue reading A 3D-Printed Building?

Categories Narrative, Office Market

1-Minute Market Update: Q4 2016 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 … Continue reading 1-Minute Market Update: Q4 2016 Report