You may have noticed that I’ve spent more time than usual passing along information as it pops up. My job is to make sure you and our clients are on the cutting edge of where office space is going and how it is changing. Due to the pandemic, there is a lot of confusing data …
Reducing Office Space? 74% of Fortune 500 CEO`s Say It`s Likely Read More »
The Metro Phoenix Office Market remains in disarray at the midpoint of 2021. Companies (small and medium-sized) are coming back to work, signing new leases and getting back to a new normal. Other companies (often large ones) continue to kick the can with short-term renewals, downsizing as leases roll, or trying the sublease market. The …
1-Minute Phoenix Metro Office Market Update: Q2 2021 Read More »
I found the below article a nice start to a conversation all of our clients will have over the next year or two. Who will go remote and why should we still have office space? First, as you will recall from last week’s narrative, as few as 34% of jobs can even be considered remote. …
Conflicting views on the future of the office continue to volley back and forth in the media. Below is the NAIOP research division’s latest forecast for office space demand, which they feel will stabilize by the middle of 2022. NAIOP is the largest commercial real estate trade organization in the United States, carrying a relevant …
Readers of this narrative know that my team and I represent tenants and landlords primarily in the Metro Phoenix area. Every year we see more and more investors coming to us from outside Arizona, and even outside the U.S. Interest in commercial real estate investing is on the rise in the international community, which is …
CRE International Investors Coming to the US and AZ Read More »
“Messy” is right. Below is an article outlining the conversations we are having 5 times a day right now with our clients. How do we come back to work and what are the rules, office space layouts, and long-term consequences of allowing everyone to partially work from home? Here is what we are telling our clients: …
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 …
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 …
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 …
1-Minute Phoenix Metro Office Market Update: Q1 2021 Read More »
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: …
The Evolution of Office Space Utilization in the U.S. Read More »
