Seeing Star Wars Episode VII: The Force Awakens recently I cannot help but draw a parallel to the world of Metro Phoenix office leasing. Why? Because, like “the force,” net absorption awakened in 2015 posting 3.4 million square feet. This is the highest absorption since 2005 and has pushed our vacancy rate below 20% for the first time in eight years. (By … Continue reading How Do Star Wars and the Phoenix Office Market Relate? Q4 2015 Phoenix Market Report
Several weeks ago, I talked about the PC 16 (please click here for the narrative) and how Mexico was one of the 16. I grew up in Sierra Vista, Arizona less than 20 miles from the Mexican border. I follow Mexican manufacturing, its economy and the maquiladora program very closely. The 50 year old maquiladora program allows a factory in Mexico, run by … Continue reading Maquiladora- What does that mean?
Time flies. The market changes. Cycles occur. AND as of today, this is our 300th narrative. We have grown from 700 to over 28,000 weekly readers with an open rate that is double the industry standard. Thank you for your support and readership. For 2016, we are going to add some humor throughout the year…Please watch this thirty second preview before … Continue reading 300 and Counting
Some good news for Arizona job growth (my key indicator for office space net absorption). In November, Forbes projected Arizona to lead the United States in job growth for the next couple years. Traditionally, Arizona has been a boom/bust cyclical state. Readers of this narrative know that this cycle, for the first time, we have not been in the top … Continue reading Arizona to Lead in Job Growth