10 Issues Affecting Commercial Real Estate 2017

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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 […]

1-Minute Phoenix Metro Office Update: Q3 2017

2017 Q3 Office Report_Page_1

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 […]

Traditional Retail is Dead

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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. […]

Is the Pendulum Swinging Back?

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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 […]

2-Minute Phoenix Metro Office Update: Q2 2017

Q2 2017 Office Report

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 […]

5 Frequently Asked CRE Questions

5 Questions about real estate

The basics of commercial real estate are simple. A tenant needs office space. An owner needs to lease their space to a tenant. But once you get into the details of the transaction, things become complicated really fast.  A good amount of my time working with clients is spent answering their questions. I even wrote […]

Office Lease Checklist

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Whenever a client has a problem with their space or lease agreement, 9 times out of 10 we can trace that negativity back to one thing: a communication failure in the original lease negotiation.  Leases are unfamiliar territory for many of our clients. Most of the time, they just don’t know the right questions to […]

1-Minute Phoenix Metro Office Update: Q1 2017

2017 Q1 Office Report_Page_1

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 […]

1-Minute Market Update: Q4 2016 Report

Q4 2016 Office 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 […]

Why We Still Need Office Space

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Starbucks is not office space. Sure you can have a meeting, grab a coffee, and check your email, but it’s not a real office. There are tons of new co-working or shared office concepts. And yet, office space is not going away. Below is a short and sweet article that gives a few reasons why.  My top takeaways on why […]