Not surprisingly, the Metro Phoenix office market Q2 2020 experienced plenty of highs and lows. Office leasing slowed, but it did not stop. Sublease space increased dramatically, but it’s not at an all-time high. Positive COVID cases declined, then spiked here in Arizona, as they did in much of the country. We continue to learn … Continue reading 1-Minute Phoenix Metro Office Market Update: Q2 2020
Last week, I sent a narrative on some new ways we are working with our clients to measure space utilization (click here to read). I got quite a few responses about the topic from Real Estate facilities people (and a CEO) asking why we would incorporate new measurements into their spaces when they have corporate … Continue reading 10 + 1 Reasons to Measure Office Space Utilization
Every day we negotiate office leases. In 2019 alone, our team completed 145 leases. One item we always negotiate is rent per square foot. As we negotiate this for our clients, we also talk to them about how they could, and probably should, be looking at the rent differently than just per SF. Recently, we moved a … Continue reading New Ways to Measure Workplace Utilization
Over the years, we have seen a proliferation of amenities and additions to office space that we lease. We assembled a nice overview of what we call The Modern Workplace. In addition to photos, I have added a little overview of the top amenities. Each of these amenities is from one of our listings here … Continue reading The Modern Workplace
I’ve shared some pretty cool buildings with this narrative over the years, and I’m bringing you another one today. As an avid backpacker for 30+ years, I wanted to share REI’s new headquarters. This one may be one of my favorites. REI is a co-op founded in 1938 that sells outdoor gear. I have been … Continue reading The Most Outdoorsy HQ Ever
Below is an incredible graph. States have let their infrastructure go to hell and it is costing consumers a ton of money in car damages. Take a look below to see what your state is costing you.I also pulled cities within the Metro Phoenix market to see what individual cities are costing us. 1—Lack of … Continue reading What is Your State’s Poor Infrastructure Costing You?
I messed up. This is a narrative that edits what I sent over earlier this week. Below is the narrative and orange are my edits. Sorry for sending incorrect information. Craig Over the past several years, one of the trends my team has been tracking is the number of California companies that are moving to … Continue reading Most Expensive U.S. Office Submarkets
Just because it’s simple doesn’t mean it’s easy. Negotiating a renewal seems straightforward, but there’s more to it than meets the eye. Our team has developed a unique, four-step process for our clients looking to renew where possible. This process ensures the most competitive transaction terms with the least amount of time and anxiety. The key step in … Continue reading The Renewal Process
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?
Tons of articles, surveys and speculation are flying around the world right now about the potential death of the office. There seem to be endless arguments to both sides and I get to talk about them daily with clients and colleagues. The article below explains the true needs for office space better than any article I’ve … Continue reading The Chemistry of the Unexpected
I’ve talked in previous narratives about the pros and cons of the current trend towards open office layouts. Work and how it flows has changed dramatically over the past 5 years. 75+ percent of all office spaces we see built out these days are primarily open. Companies are trying to make their culture more collaborative. … Continue reading Work Modalities Chart
Back in May 2016, I wrote a narrative on the first solar road in the world (read here). Looks like I was way ahead of the curve on this technology. It is still coming but solar power inside a road seems to be a long way off. This road has been a total flop. Why? … Continue reading Three Years Later, the French Solar Road Is a Total Flop
The trend of being able to work from home is now here for all of us. The COVID-19 quarantine has forced the issue. And according to a detailed study by Nicholas Bloom of Stanford, it’s good business. Bloom did a two-year study on the effectiveness of working from home. Below is a nice summary from a … Continue reading Working From Home
After a strong start to the year, COVID-19 has stamped a pause button on the majority of office deals in the market. Closing out the first quarter, the Metro Phoenix office market absorbed just 310,280 square feet. This is 25% of Q1 2019’s figure. Vacancy crept up only slightly by 100 basis points to 16.2%. … Continue reading 1-Minute Phoenix Metro Office Market Update: Q1 2020
It was simply a matter of time before all office building tenant amenities would consider going green. Below are some pretty cool ideas for office building owners and tenants wanting be more environmentally-friendly. My favorite is the Margarita—I mean, smoothie—bike. 🙂 See below for the photo. What else is coming? – Balconies and … Continue reading Green/Healthy Tenant Amenities