1-Minute Phoenix Metro Office Update: Q4 2017

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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.   […]

How High-Net Worth Investors Invest in CRE

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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 […]

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

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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

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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

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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 […]