The United States and Arizona both continue to recover from the pandemic. Below are two graphs from Elliott D. Pollack & Company showing the percent of jobs recovered and jobs left to recover from the pre-pandemic days here in Arizona. –The good news is that jobs are coming back. –However, we still have a ways … Continue reading Arizona Job Recovery
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?
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
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
For over 30 years, I have been telling tenants they should use me and my team to represent them. The first question I need to answer is, “why do I need a broker?” Below is a graphic we created for people who want to know why they need to engage a broker for their next … Continue reading Why Use A Broker?
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?
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
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.
One of the first questions we get asked when we are working with a tenant is how long the process will take…..The answer is usually longer than you think. We created the below infographic to show a sample of our step-by-step process, the time it takes to accomplish and decision makers involved. There is a … Continue reading Preliminary Relocation Process
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
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
It seems like forever ago that the entire work force was sent home from their offices to hunker down and try to be productive while waiting out the pandemic. While telecommuting is not a new word, companies have always considered it an experiment and been very slow to embrace it. For years, telecommuting or working … Continue reading What Will Replace the Desk?
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
I’ve lost track of how many narratives I’ve written about how technology is changing the commercial real estate business. Here’s another one. 5G is on the way and it’s coming fast. What does this mean to the Commercial Real Estate Industry? Below is an article on strategizing for the arrival of 5G technology. Some of my … Continue reading 5G and CRE
I recently found a great website with some very cool information and graphs on money flow trends and wanted to share it with you. Where has America’s money flowed over the last 5 years? People take their money where they think they will live their best life.Turns out that: –Money is flowing out of California at an … Continue reading America’s Money Flow