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 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 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 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 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 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?