More and more U.S. workers are returning to the office – but not into the space of their dreams. Even though work styles have changed significantly since the pandemic, many companies have neglected their outdated office designs. As a result, workers are finding it difficult to balance between teamwork and quiet/heads-down work. We want to know WHEN employees WILL want …
Late loan payments in commercial real estate are on the rise. Old, obsolete office buildings compounded by a decreased need for office due to the Work-from-home (WFH) and hybrid work phenomenon are the major contributing factors to these delinquencies. Overall, the rate of delinquent loans hit 6.8% in August 2023, as compared to 4.5% in June 2022. …
Gyms, restaurants, community conference rooms — could all of these be collaboration spaces in your office building? The answer is yes. That is what we are seeing lease now and we believe this will continue to become the new norm for most office users at least for the next few years. Today, employees feel the need to be rewarded just …
This is our final C2 Voice of our submarket series. A summary of the key takeaways from the last 6 weeks: — Commercial Real Estate is always cyclical. Office is VERY cyclical. — Office is in the middle of a very huge shift in how it is being used. When all is said and done, from …
For our last comparison, we will take a look at Class A office vs Class B and Class C office. How has size, pricing, and sales volume changed within the past 20 years? Class A has been the darling of all office space for the past two decades, which makes sense when you think about …
Today, we want to look at a rising star submarket for Metro Phoenix: The East Valley. Specifically, we want to show you how much Chandler has grown. At the same time, we are also going to look at Deer Valley in the Northwestern Valley. Chandler will be a strong submarket for the next decade while …
Last week, we talked about Phoenix’s Central Business District (CBD) and all the challenges that office building owners face in these submarkets. Today, we go to the shining star over the last 20 years: Scottsdale. Scottsdale is known as one of the most livable cities in America. Click here to find out why! While it’s a great place to …
Last week, (week 1 of my 6 week series), I analyzed the overall Metro Phoenix office market. Now, let’s spend a couple weeks looking at some key submarkets within Phoenix, analyzing their past and looking ahead to their future. Today, we are going to look at the Central Business District (CBD) which includes Downtown and Midtown. …
Office space is in the middle of a massive disruption: Offices Around America Hit a New Vacancy Record. For over 40 years and 4,000 transactions, we have been guiding our clients on their office space needs. In late 2023, I did a series on the various types of repurposing where I reviewed five different types and the pros …
The Metro Phoenix Office sector had a tough 2023, ending the year with overall negative net absorption for the first time since 2010. This is concerning, but there is a silver lining in Q4 that stopped a three-quarter losing streak of negative absorption. Q4 2023 saw 68,616 SF of positive net absorption, however not enough …
For Review 1-Minute Phoenix Metro Office Market Update: Year End 2023 Read More »
