Categories Covid19 Impact, Creative Office Spaces, Economy, Graphs, Narrative, Office Trends

Hybrid Work Messiness

Now the messy part with hybrid work begins. Below is an article outlining the conversations we are having 5 times a day right now with our clients.  How do we come back to work and what are the rules, office space layouts and long-term consequences of allowing everyone to partially work from home? Here is … Continue reading Hybrid Work Messiness

Categories Covid19 Impact, Economy, Narrative

Which Cities are America’s new boomtowns? Try Salt Lake City and Indianapolis

Even before the pandemic, jobs in Metro Phoenix were on the rise, drawing large numbers of employees away from bigger cities like San Francisco, LA, and New York, to the area. That trend accelerated during the pandemic, with an influx of new remote workers moving to the city. What is really cool is the diversification … Continue reading Which Cities are America’s new boomtowns? Try Salt Lake City and Indianapolis

Categories Covid19 Impact, Economy, Narrative, Office Market, Office Trends

The Hottest Office Topic in the Valley

Office subleases continue to prove a hot topic this year. Tenants in the market are eyeing subleases for their great prices, or are using them as leverage to bargain against traditional options. In the Metro Phoenix market, with 100 million SF of office space, we are now showing over 4.5 million SF of sublease now … Continue reading The Hottest Office Topic in the Valley

Categories Covid19 Impact, Economy, Graphs, Narrative, Office Market

Reducing Office Space? 74% of Fortune 500 CEO`s Say It`s Likely

You may have noticed that I’ve spent more time than usual passing along information as it pops up.  My job is to make sure you and our clients are on the cutting edge of where office space is going and how it is changing. Due to the pandemic, there is a lot of confusing data … Continue reading Reducing Office Space? 74% of Fortune 500 CEO`s Say It`s Likely

Categories Covid19 Impact, Creative Office Spaces, Narrative, Office Trends

COVID 19 Office Space Changes

This narrative has been talking about changes in office space design, layout, and work flow for the last year. During COIVD-19, I decided to put together a summary presentation of the 10 changes office space users are making as we come out of the pandemic. I have given this presentation live (well, over Zoom) over … Continue reading COVID 19 Office Space Changes

Categories Covid19 Impact, Economy, Narrative, Office Market, Original Content

1-Minute Phoenix Metro Office Market Update: Q2 2021

The Metro Phoenix Office Market remains in disarray at the midpoint of 2021.  Companies (small and medium-sized) are coming back to work, signing new leases and getting back to a new normal. Other companies (often large ones) continue to kick the can with short-term renewals, downsizing as leases roll, or trying the sublease market.  The … Continue reading 1-Minute Phoenix Metro Office Market Update: Q2 2021

Categories Covid19 Impact, Creative Office Spaces, Narrative, Office Market, Office Trends

Office Space to Compete with Remote Working

I found the below article a nice start to a conversation all of our clients will have over the next year or two. Who will go remote and why should we still have office space?  First, as you will recall from last week’s narrative, as few as 34% of jobs can even be considered remote. … Continue reading Office Space to Compete with Remote Working

Categories Covid19 Impact, Economy, Graphs, Narrative, Office Market

Office Still in Disarray

Conflicting views on the future of the office continue to volley back and forth in the media. Below is the NAIOP research division’s latest forecast for office space demand, which they feel will stabilize by the middle of 2022. NAIOP is the largest commercial real estate trade organization in the United States, carrying a relevant … Continue reading Office Still in Disarray

Categories Covid19 Impact, Economy, Graphs, Narrative, Office Market

CRE International Investors Coming to the US and AZ

Readers of this narrative know that my team and I represent tenants and landlords primarily in the Metro Phoenix area. Every year we see more and more investors coming to us from outside Arizona, and even outside the U.S. Interest in commercial real estate investing is on the rise in the international community, which is … Continue reading CRE International Investors Coming to the US and AZ

Categories In the News, Narrative, Original Content

NAIOP Arizona Award of Excellence 2020 Goes to…

We are very excited to share with you that Craig has been awarded the 2020 NAIOP Award of Excellence. Only one person in our industry per year receives this distinction. The purpose of this award is to recognize an individual who has made extraordinary contributions to the Arizona commercial real estate market over his or … Continue reading NAIOP Arizona Award of Excellence 2020 Goes to…

Categories Covid19 Impact, Creative Office Spaces, Narrative, Office Market, Office Trends

Hybrid Works Get Messy

“Messy” is right.  Below is an article outlining the conversations we are having 5 times a day right now with our clients. How do we come back to work and what are the rules, office space layouts, and long-term consequences of allowing everyone to partially work from home? Here is what we are telling our clients: … Continue reading Hybrid Works Get Messy

Categories Covid19 Impact, Narrative, Office Trends

Jobs That Can Be Done Remotely?

Over the past year, I have been asked the same question over and over: What will happen to office space users? Will they all just work from home from now on? Will offices ever come back?   2020 showed us that many office jobs can be performed at home, and though I’ve written before about some of the drawbacks of being … Continue reading Jobs That Can Be Done Remotely?

Categories Economy, Graphs, Narrative

$329,100

The housing market is on FIRE. We are seeing house prices skyrocket across the country, especially here in Metro Phoenix. How hot is it? The median price of a home in the US just hit $329,100. While I’m not in the residential sphere, I’ve been keeping an eye on housing prices and am amazed at … Continue reading $329,100

Categories Covid19 Impact, Economy, Graphs, Narrative, Office Trends

Commercial Sales Volume in a Pandemic

There’s no doubt that the pandemic has had far-reaching consequences for industries worldwide. In my business, the pandemic created several great markets (residential development and industrial); a sandstorm in our area of office space leasing (no one knows where we are going yet) and has devastated other segments (retail and hospitality). One other segment that was … Continue reading Commercial Sales Volume in a Pandemic

Categories Covid19 Impact, Narrative, Office Market, Office Trends

Who is Going Back to the Office?

I am still closely watching the work-from-home (WFH) trend that began a long time ago but really accelerated last year when the Covid pandemic first hit. Many businesses are now returning to the office, with optional WFH schedules or reimagined spaces. Every business is handling the return to their office differently, and some have found … Continue reading Who is Going Back to the Office?

Categories Covid19 Impact, Economy, Narrative, Office Market, Original Content

1-Minute Phoenix Metro Office Market Update: Q1 2021

The pandemic certainly took its toll on the Metro Phoenix Office Market in Q1.  The numbers tell us it was the worst quarter since the Great Recession (2008): Net absorption (new office space taken by job growth) went negative for the third quarter in a row, at -550,000 SF; sublease space increased at the highest … Continue reading 1-Minute Phoenix Metro Office Market Update: Q1 2021

Categories Covid19 Impact, Narrative, Office Market, Office Trends

The Evolution of Office Space Utilization in the U.S.

Below is an older article (9/2016),  that discusses the evolution of office space.  Why am I sending this now, right after the economy shut down and the COVID-19 pandemic?  Because the points made below can and will show you a couple of key topics that are still relevant when discussing  commercial office design and investment: … Continue reading The Evolution of Office Space Utilization in the U.S.

Categories Covid19 Impact, Narrative, Office Trends

Your Workplace is Changing

The Wall Street Journal article below is a very good summary of what we are hearing a ton these days: How can I make my office more dynamic and experiential?   As we go back to our offices, simply returning to the old, pre-COVID layout with the same furniture and work methods, is not going to cut it when it comes to competing for new … Continue reading Your Workplace is Changing

Categories Graphs, Narrative

Phoenix Housing Market is Pure Fire

In February, I was able to watch the annual Land and Housing forecast by Land Advisors with Founder Greg Vogel.  As usual, they didn’t disappoint with the wealth of great information they shared. I wanted to share a graph that was astounding to me: Resale of houses in metro Phoenix by days. Our team focuses exclusively on office and commercial, … Continue reading Phoenix Housing Market is Pure Fire

Categories Narrative, Original Content

Lease Types and Obligations

In commercial office leasing, there are a number of ways owners charge rent and operating expenses.  We always negotiate how operating expenses are accounted for and charged to the tenant when we work with you on your office lease.  Below is a graphic we created to show the range of lease types and where the obligation resides (with the Landlord … Continue reading Lease Types and Obligations

Categories Economy, Graphs, Narrative

Countries With the Most Sustainable Energy Policies

I have some global thinking for your narrative today. Lots of thought and energy is going into making the world more sustainable. There are many ways people are working towards sustainability, and below is a graph showing which countries are doing the best job. Here are my thoughts:1—The US is doing a good job (I know, we … Continue reading Countries With the Most Sustainable Energy Policies

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q4 2020

We are all getting mixed messages on office space use from the media and our own colleagues.  The office market is dead. It will never be the same. Work from home doesn’t work. The market will crash. We’ve already hit bottom. We hear all this and more every day.  We call it The Sandstorm.   What … Continue reading 1-Minute Phoenix Metro Office Market Update: Q4 2020

Categories Economy, Narrative, Office Market

Investing in Commercial Real Estate

These days, it’s easier than ever to get started in investing. There are apps that let you buy and trade stocks while waiting at the gas station. Real estate, especially residential, has always been an accessible investment vehicle. But these days, even commercial real estate is being disrupted and opening up to the masses, with … Continue reading Investing in Commercial Real Estate

Categories Covid19 Impact, Economy, Narrative

Negative Office Absorption in Our Future

We now believe the national office market will likely have negative absorption for 2020 and, depending on how long the pandemic lasts, into 2021.  Globe Street has a nice overview in the article below my comments.  Here are some of my thoughts on the office sector looking forward into the next year. Why negative absorption … Continue reading Negative Office Absorption in Our Future

Categories Architecture, Design, Narrative

The Creative Process of the Four Pioneers of Modern Architecture

In my business, I get to tour some pretty incredible buildings and spaces. (Check out the narrative I did on World’s Most Beautiful Offices of 2019). I am always fascinated by the creative thinking and precision that goes into designing and constructing buildings and office space to make the culture within the company actually come to … Continue reading The Creative Process of the Four Pioneers of Modern Architecture

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q3 2020

The sandstorm continues. In Phoenix, we call it a haboob.  Uncertainty, again, served as the main theme of the Metro Phoenix Office Market in the third quarter.  Vacancy didn’t really rise that much in the past 90 days.  Rental rates softened only slightly.  Sublease space spiked up again this quarter. We are seeing companies who … Continue reading 1-Minute Phoenix Metro Office Market Update: Q3 2020

Categories Economy, Narrative, Office Market, Office Trends

Top 10 Issues Affecting Real Estate

The Counselors of Real Estate (of which Andrew and I are proud members) have released their annual top 10 issues affecting real estate.  Please read the whole article below.  As you can imagine, COVID-19 is currently leading the way on issues affecting real estate. Big shocker.  We have written about the pandemic a ton in previous … Continue reading Top 10 Issues Affecting Real Estate

Categories Economy, Narrative

Real Estate Tax Breaks and Potential Dangers

As an office broker for 35+ years, I have done my share of corporate headquarters relocations and negotiations.  If you need office space, I am your man.   Part of any negotiation for a sizable relocation can be state and city incentives. The article below from the New York Times talks about companies taking advantage of this … Continue reading Real Estate Tax Breaks and Potential Dangers

Categories Creative Office Spaces, Design, Narrative, Office Trends

This Trend is Likely Accelerating

As we come out of the COVID-19 quarantine, the number one question I am being asked (other than questions about rent deferment or abatement) is “what is this going to do to the office building layouts going forward?”  There are many prognostications and I have prepared my own presentation that I am giving to our … Continue reading This Trend is Likely Accelerating

Categories Narrative, Original Content

Post Lease Execution Thoughts

Congratulations, your lease is fully executed.  Now what?  Most brokerage professionals disappear before the ink on the lease has even dried.  Over time, we have found a number of ways we can help our clients as they transition into the next phases of their relocation or renewal.  We offer guidance and resources that start at lease execution to occupancy … Continue reading Post Lease Execution Thoughts

Categories Covid19 Impact, Creative Office Spaces, Design, Narrative, Office Trends

C.D.C. Recommends Changes to Office Space

The C.D.C. sent out some “suggested” changes for office space users as we head back into the office.  I wanted to take these suggestions and roll them into what we are seeing our clients do on a practical basis. Additionally, the Wall Street Journal has a nice article on what we know about getting infected. … Continue reading C.D.C. Recommends Changes to Office Space

Categories Covid19 Impact, Design, Narrative, Office Trends

Remote Work Isn’t So Great After All

Over the past few months of quarantine, the most asked question my team and I have received has been, “Will there even be a need for office space in the future?”   Short answer: Yes. Below is a great article from the Wall Street Journal that summarizes some of the critical issues facing companies as we … Continue reading Remote Work Isn’t So Great After All

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q2 2020

Not surprisingly, the Metro Phoenix office market Q2 2020 experienced plenty of highs and lows.  Office leasing slowed, but it did not stop.  Sublease space increased dramatically, but it’s not at an all-time high.  Positive COVID cases declined, then spiked here in Arizona, as they did in much of the country.  We continue to learn … Continue reading 1-Minute Phoenix Metro Office Market Update: Q2 2020

Categories Creative Office Spaces, Design, Narrative, Office Market, Office Trends

10 + 1 Reasons to Measure Office Space Utilization

Last week, I sent a narrative on some new ways we are working with our clients to measure space utilization (click here to read).  I got quite a few responses about the topic from Real Estate facilities people (and a CEO) asking why we would incorporate new measurements into their spaces when they have corporate … Continue reading 10 + 1 Reasons to Measure Office Space Utilization

Categories Creative Office Spaces, Design, Narrative, Office Trends

New Ways to Measure Workplace Utilization

Every day we negotiate office leases. In 2019 alone, our team completed 145 leases. One item we always negotiate is rent per square foot.  As we negotiate this for our clients, we also talk to them about how they could, and probably should, be looking at the rent differently than just per SF.  Recently, we moved … Continue reading New Ways to Measure Workplace Utilization

Categories Architecture, Creative Office Spaces, Design, Narrative, Office Trends

The Most Outdoorsy HQ Ever

I’ve shared some pretty cool buildings with this narrative over the years, and I’m bringing you another one today. As an avid backpacker for 30+ years, I wanted to share REI’s new headquarters.  This one may be one of my favorites.  REI is a co-op founded in 1938 that sells outdoor gear.  I have been … Continue reading The Most Outdoorsy HQ Ever

Categories Economy, Graphs, Narrative, Office Market

What is Your State’s Poor Infrastructure Costing You?

Below is an incredible graph.  States have let their infrastructure go to hell and it is costing consumers a ton of money in car damages.  Take a look below to see what your state is costing you.I also pulled cities within the Metro Phoenix market to see what individual cities are costing us. 1—Lack of … Continue reading What is Your State’s Poor Infrastructure Costing You?

Categories Economy, Narrative, Office Market, Office Trends

Most Expensive U.S. Office Submarkets

I messed up.  This is a narrative that edits what I sent over earlier this week. Below is the narrative and orange are my edits.  Sorry for sending incorrect information.  Craig Over the past several years, one of the trends my team has been tracking is the number of California companies that are moving to … Continue reading Most Expensive U.S. Office Submarkets

Categories Narrative, Original Content

The Renewal Process

Just because it’s simple doesn’t mean it’s easy. Negotiating a renewal seems straightforward, but there’s more to it than meets the eye. Our team has developed a unique, four-step process for our clients looking to renew where possible. This process ensures the most competitive transaction terms with the least amount of time and anxiety. The key step in the … Continue reading The Renewal Process

Categories Covid19 Impact, Narrative, Office Market, Office Trends

Goodbye to open office spaces?

I know, we have been sending quite a bit of contradictory information about office space post-pandemic. The situation is extremely fluid and changing rapidly.  Below is an article from National Geographic on this very topic.  The CDC is also sending out new office guidelines (here is another article from the NYT).   IF, and this … Continue reading Goodbye to open office spaces?

Categories Narrative, Office Trends

Green/Healthy Tenant Amenities

It was simply a matter of time before all office building tenant amenities would consider going green.  Below are some pretty cool ideas for office building owners and tenants wanting be more environmentally-friendly.  My favorite is the Margarita—I mean, smoothie—bike. 🙂  See below for the photo.   What else is coming?   – Balconies and … Continue reading Green/Healthy Tenant Amenities

Categories Narrative, Tech Industry

The Speed of Technological Adoption

We know technology is changing our lives.  What is astonishing to me is the speed of adoption.  The second graph in the below article shows just how fast this is happening with new technology—The lines are almost straight up.  Here is why: Today’s consumers want immediate impact in their daily lives. With cell phones and … Continue reading The Speed of Technological Adoption

Categories Narrative

Brokerage – What We Do Every Day

Managing a national portfolio can be one of the most complex and stressful jobs in our industry. The Coppola-Cheney Group has over three decades of experience leasing office space across the U.S. and Europe for clients.  We compete with national tenant advisory firms and offer unique services that cannot be replicated by these national firms.  … Continue reading Brokerage – What We Do Every Day

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q4 2019

It’s time for us to look back at the Metro Phoenix Office Market for 2019. Readers of this narrative know that I am an office broker who works every day with tenants and landlords as they navigate real estate nuances and opportunities. I (along with my incredible team) am based in Phoenix but work around the country, … Continue reading 1-Minute Phoenix Metro Office Market Update: Q4 2019

Categories Creative Office Spaces, Narrative, Office Trends

Office Space 2020- The Employee Experience- Part 4 of 4

In this final week of my series, I wanted to talk about what companies are doing for their employees.  Yes, we know a few already—meals, bocce ball, corn hole and napping pods all across Silicon Valley.  But what about across the U.S.?  For this I turned to one of our clients and a leader in … Continue reading Office Space 2020- The Employee Experience- Part 4 of 4

Categories Creative Office Spaces, Narrative, Office Trends

Office Space 2020- The Tenant Rules- Part 3 of 4

One of the first lessons you learn when you start representing owners and tenants in leasing office space is that the tenant rules.  They drive everything.  Rates, Tenant Improvements, where buildings get built, what buildings get built — everything.  Deloitte produced a very nice 2020 Commercial Real Estate Outlook (the link to the entire study … Continue reading Office Space 2020- The Tenant Rules- Part 3 of 4

Categories Creative Office Spaces, Narrative, Office Trends

Office Space 2020- Workforce- Part 2 of 4

Today I want to look at the workforce for this coming decade. We are living AND working longer.  I wrote a previous narrative about how five generations of employees are now in the workplace.  Check it out here. What does that mean having five generations in your office?: – We are having to plan for, manage, … Continue reading Office Space 2020- Workforce- Part 2 of 4

Categories Architecture, Creative Office Spaces, Design, Narrative

World’s Most Beautiful Offices of 2019

I love to write this narrative each year.  Annually, I get to comment on some of the coolest office spaces in the world and also highlight a couple clients we have completed transactions with in the past 12 months.  First is a very cool tenant lounge that Cypress Properties and Oaktree built at Renaissance One. Next, … Continue reading World’s Most Beautiful Offices of 2019

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q3 2019

After a quiet second quarter, the Greater Phoenix office market experienced a HUGE third quarter in terms of tenant activity.   Over 1 million SF of net absorption (think job growth) was recorded in just a 90-day period, making 2019’s year-to-date net absorption 2.64 million SF – almost matching space absorbed in all of 2018, and … Continue reading 1-Minute Phoenix Metro Office Market Update: Q3 2019

Categories Economy, Narrative, Office Trends

I Got One Right… and I am not happy about it

In 2015, I said this was not a good investment.   In 2018, I said, I couldn’t believe this was still going on.  In April this year, I reiterated this was going to crash….and it finally has.  But that doesn’t mean I’m happy I was right.    What was my prediction?  WeWork (now We Company) was not … Continue reading I Got One Right… and I am not happy about it

Categories Narrative, Office Trends

2019-20 Top Ten Issues Affecting Real Estate – My Annual Take

One of the best parts of being a Counselor of Real Estate (CRE) is the annual debate about what issues are driving real estate.  Boy have they changed over the last 5 years.  For 2019-2020, our organization has come up with a couple issues that you would have NEVER guessed would have been on the top … Continue reading 2019-20 Top Ten Issues Affecting Real Estate – My Annual Take

Categories Narrative, Office Trends

#1 Item for a Superior Customer Experience Strategy

McKinsey did a pretty interesting study on creating a superior customer experience strategy.  As you can imagine, it’s not just the actions of the front-line, customer-facing workers that adds the ‘customer first’ experience to a company, but the executives and strategy as well. The more a company invests in the interests of their employees, the … Continue reading #1 Item for a Superior Customer Experience Strategy

Categories Creative Office Spaces, Narrative, Office Trends

Ready for an office space deep dive?

Sometimes I geek out over office space.  Today’s narrative is one of those just for the interested.  Here is a link to a survey conducted by the National Association of Industrial and Office Professionals (NAIOP). This 50-page deep dive into the topic asks real estate owners and professionals their thoughts on Co-working vs. Building Collaborative … Continue reading Ready for an office space deep dive?

Categories Creative Office Spaces, Narrative, Office Trends, Tech Industry

Gaining a Competitive Edge in Office Buildings

  Below is an interesting article from The New York Times about office landlords seeking a competitive edge in leasing space to tenants.  Our primary market is Phoenix, so when I travel or read, I am always watching out for trends and changes in what owners are doing and what tenants are leasing.  Here are … Continue reading Gaining a Competitive Edge in Office Buildings

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q2 2019

It’s July in Phoenix and it is hot — both in temperature and in the office market.  The office market remains hot but office net absorption (job growth) cooled off in the 2nd quarter, posting just 245,000 SF in Q2.  Mid-year net absorption stands at 1.5 million SF and will likely hit 3 million SF … Continue reading 1-Minute Phoenix Metro Office Market Update: Q2 2019

Categories Creative Office Spaces, Narrative, Office Trends

Vertical Warehousing

  The entire world is being disrupted.  Readers of this narrative know this.  Here is the latest disruption: vertical warehouses with four stories. Why are these taking off?    –Consumer demand for instantaneous delivery has caused the industry to take a hard look at the “last mile” and seek new ways to speed up delivery. … Continue reading Vertical Warehousing

Categories Economy, Narrative

Analyzing Business Opportunities

We all know we have to do our homework when analyzing any business opportunity.  Doing due diligence  from every side and perspective will help protect your interests (and money).  Below are some reminders and a priority list for conducting your due diligence to limit your risks and hopefully ensure your ROI:   – Financials first, all … Continue reading Analyzing Business Opportunities

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q1 2019

  The Metro Phoenix Office market continued its trend of positive net absorption this quarter in a BIG way.   Fresh off a year of posting 2.8 million SF of net absorption (job growth) in all of 2018, Metro Phoenix hit 1.1 million SF in just the first quarter 2019, sending vacancy down to 16.9% from 17.57%.  … Continue reading 1-Minute Phoenix Metro Office Market Update: Q1 2019

Categories Creative Office Spaces, Narrative, Office Trends

Building Collaborative Areas vs. Coworking Space

  For those who have followed my narrative for a while now, you might recall that WeWork and the overall rise of Coworking office space has been on my radar for the past few years (Click here to read “Rise of Collaborative Workspace” and here to read “WeWork now a $5 billion co-working startup”).   The market … Continue reading Building Collaborative Areas vs. Coworking Space

Categories Narrative, Office Market

Affordability

  One of the most daunting tasks our national clients face is to quantify the key metrics for making decisions for their office locations.  I review no less than 30 different reports a year on this topic and the items people track are, well…daunting. Demographics, traffic patterns, access to amenities, cost of labor, office space costs, … Continue reading Affordability

Categories Design, Narrative, Tech Industry

Chinese Company Headquarters WAY different than U.S.

  Chinese company, Tencent, just finished its global headquarters.  In previous narratives, I have discussed US-based tech companies’ cool new headquarters (Click here to read my narrative on Apple’s HQ). This week, I have included two different articles about the same building. What is different? Technology.  In China, the government allows some technology that is not … Continue reading Chinese Company Headquarters WAY different than U.S.

Categories Narrative

The Commercial Real Estate Appraisal Process

  We are constantly asked by owners and prospective owners to value buildings. As brokers, we can prepare BOV’S (Broker Opinion of Values).  This is our opinion of a specific property’s market value if put on the market for sale.  Full valuation for Lenders and partners to benefit all parties is called an Appraisal.  Below … Continue reading The Commercial Real Estate Appraisal Process

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q4 2018

It’s time for us to look back at the Metro Phoenix Office Market for 2018. Readers of this narrative know that I am an office broker who works every day representing tenants and landlords as they navigate real estate nuances and opportunities. I (along with my incredible team) am based in Phoenix but work around the country … Continue reading 1-Minute Phoenix Metro Office Market Update: Q4 2018

Categories Narrative

What do Baseball and Commercial Real Estate Have in Common?

Some of you may know that I was drafted out of college and played professional baseball for the Minnesota Twins organization before I got into Commercial Real Estate.  If you play baseball, you learn statistics. As sportswriter Arthur Daley said:  “A baseball fan has the digestive apparatus of a billy goat. He can, and does, devour any set of … Continue reading What do Baseball and Commercial Real Estate Have in Common?

Categories Narrative, Office Market

Piling On

I’m adding to my narrative two weeks ago (click here to read) on the effects of open office plans.  Today is not about the science but rather the complaining and emotional impact on employees after moving to open office space.  I’m not taking a side, rather just piling on more information from two weeks ago.    Workers … Continue reading Piling On

Categories Architecture, Design, Narrative

The Legacy of Steve Jobs and Office Space

Apple moved into their spaceship this year.  I wrote about it while under construction and now you have probably have seen finished photos all over.  If not, here are some.But today’s narrative is not about this inspired headquarters.  Today, I want to talk about Pixar’s headquarters built in the late 1990’s.  The standards of creative office (and … Continue reading The Legacy of Steve Jobs and Office Space

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Update: Q3 2018

Below is my quarterly take on the Metro Phoenix office market. Readers of this narrative know that I am an office broker who works every day representing Tenants and Landlords as they navigate real estate nuances and opportunities.  I (along with my incredible team) am based in Phoenix but work around the country and internationally as … Continue reading 1-Minute Phoenix Metro Office Update: Q3 2018

Categories Narrative

Working Remotely

There is such freedom in working remotely.  But, as is the case with everything, there is a dark side.  People who get to work remotely have flexibility and save time from not having to commute. But are these benefits worth the stress?Remote workers also deal with the following:    –          Feeling disconnected from their team.  And even … Continue reading Working Remotely

Categories Narrative, Office Market

2018 Top 10 Issues Affecting Real Estate

The changing demographics of workers in the U.S. is HUGE and it’s changing everything. This is probably the biggest issue we are facing in office space leasing, and it features predominantly on the 2018  Counselors of Real Estate (CRE)  Top 10 Issues Affecting Real Estate. Below is the release and a link to the full report. I … Continue reading 2018 Top 10 Issues Affecting Real Estate

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Update: Q2 2018

Readers of this narrative know that I am an office broker who works every day helping Tenants and Landlords navigate the nuances and opportunities across geographical areas and product types.  I (along with my incredible team) am based in Phoenix but work around the country and internationally as well. We get hired for all kinds … Continue reading 1-Minute Phoenix Metro Office Update: Q2 2018

Categories Narrative, Tech Industry

Amazon Headquarters Selection Process

Over the past few months, Amazon has been very public about their search for a second headquarters. (They have looked at 238 different cities.)  I wanted to share a bit of this process and what it might mean to the economic development communities across the country. The Amazon announcement will play out over the next year, but the … Continue reading Amazon Headquarters Selection Process

Categories Economy, Narrative

Rules for Capital

When writing my LIFEies (my weekly blog on personal development) I get to share very complex ideas that are made simple by lots of people. Like Albert Einstein said, “The definition of genius is taking the complex and making it simple.” For this narrative, however, I focus on more complex Commercial Real Estate developments. But every … Continue reading Rules for Capital

Categories Narrative, Office Market

Commercial Real Estate Designations

  I come from a family of educators.  Both my parents were school teachers.  After getting my bachelor’s degree, I felt the need to continue my education.  Today I have earned my MBA and the three most prestigious designations in the Commercial Real Estate industry: CCIM, CRE, and SIOR.  Andrew has earned the same three designations.  … Continue reading Commercial Real Estate Designations

Categories Economy, Narrative, Office Market

1-Minute Phoenix Metro Office Update: Q1 2018

The long and stubbornly slow recovery continues.  Q1 2018 numbers are out and the Metro Phoenix office market absorbed 686,469 square feet of net positive space, lowering overall vacancy to 19.39%.  We are now into the 8th straight year of positive absorption in office jobs.  Vacancy varies throughout the Greater Phoenix area with a high of 30.5% in the Sky Harbor … Continue reading 1-Minute Phoenix Metro Office Update: Q1 2018

Categories Economy, Narrative

Growing Together

I grew up 20 minutes from the Mexican border.  My dad and three of my siblings still live in Sierra Vista, AZ.  I know firsthand the good and bad of living next to an international border and all the issues surrounding both sides.    Given the recent political turbulence surrounding globalization, NAFTA, and the United … Continue reading Growing Together

Categories Economy, Narrative, Office Market

Underlying Organizational Costs

The biggest waste we consistently see is clients underutilizing their office space.  Planning for growth that never occurs, thinking you “need” the space for visiting people, and making work areas and offices too big — there are multiple ways that companies waste money. Office space, and even more important facilities, can significantly reduce costs through … Continue reading Underlying Organizational Costs

Categories Architecture, Design, Narrative, Tech Industry

How Tech Office Space Sets the Bar for Everyone Else

What would you do if you had an unlimited budget to improve your company’s next office renovation?  Below is a great article detailing what some tech giants are doing to their interior design to keep their employees happy, productive and in the office.    One simple takeaway is that these companies are doing THE most innovative and comprehensive buildout you … Continue reading How Tech Office Space Sets the Bar for Everyone Else

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Update: Q4 2017

Positive and Steady. That’s how I would describe the Metro Phoenix Office market’s performance for 2017.  The market posted its 7th straight year of positive net absorption (net gain in office jobs) finishing at 1.83 million SF. For reference, our 25-year average is 2.5 million SF, and 2016 net absorption reached 2.9 million SF.   … Continue reading 1-Minute Phoenix Metro Office Update: Q4 2017

Categories Narrative

C2 By the Numbers

Every year we look back and reflect on the deals, relationships, and memories we made over the past 12 months. We had another excellent year in 2017, and as we look back on the numbers we’re incredibly grateful for amazing clients and friends like you.  Now that we’re a few weeks into 2018, we’re excited for … Continue reading C2 By the Numbers

Categories Narrative, Office Market

How High-Net Worth Investors Invest in CRE

As the wealthiest people in the world continue to grow their wealth, they are looking more and more at Commercial Real Estate for their portfolios.  We are now seeing the uber-wealthy put 6-25% of their portfolio into CRE.  This is a big trend because the rich are getting richer.   Here are a few stats: HNWI’s … Continue reading How High-Net Worth Investors Invest in CRE

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