Narrative

Base Year vs. Expense Stop

Below is one of my favorite graphics we have created.  By using this visual, I can explain a complicated commercial office lease term to a client in 3 minutes.  What we show in the graphic is  a comparison of expense reconciliation methods for Full Service leases.  While there are other methods, one point we ALWAYS negotiate is … Continue reading Base Year vs. Expense Stop

REI Headquarters Follow-up

Back in July, I sent out a narrative on one of the coolest buildings I have ever seen being built.  The REI headquarters promised to be on-brand and in keeping with their ethos. It blended outdoor and indoor space to create a building that perfectly aligned with the company mission. Well, if you want an … Continue reading REI Headquarters Follow-up

Amazon Warehouses

We know Amazon delivers thousands of items right to our house, often within 24 hours.  Below is a map showing how they do it—with warehouses all over the US and world.    With their push to handle more and more of their own delivery, this number will continue to increase.  They are even looking to … Continue reading Amazon Warehouses

The Counter Argument to WFH

We are spending a fair amount of time in this narrative looking at the issues of office space in a post-COVID-19 world.  As I write this, we are still in a COVID-19 “sandstorm” without any real clear direction. However, we can look at the various options that are being thrown out as alternatives.  One of … Continue reading The Counter Argument to WFH

1-Minute Phoenix Metro Office Market Update: Q3 2020

The sandstorm continues. In Phoenix, we call it a haboob.  Uncertainty, again, served as the main theme of the Metro Phoenix Office Market in the third quarter.  Vacancy didn’t really rise that much in the past 90 days.  Rental rates softened only slightly.  Sublease space spiked up again this quarter. We are seeing companies who … Continue reading 1-Minute Phoenix Metro Office Market Update: Q3 2020

Top 10 Issues Affecting Real Estate

The Counselors of Real Estate (of which Andrew and I are proud members) have released their annual top 10 issues affecting real estate.  Please read the whole article below.  As you can imagine, COVID-19 is currently leading the way on issues affecting real estate. Big shocker.  We have written about the pandemic a ton in previous … Continue reading Top 10 Issues Affecting Real Estate

Sunshine in USA vs. Europe

I’m a third-generation Arizonan, which means I love the sunshine. Below is a cool map that shows sunshine in terms of hours per year.  It’s interesting how little sunshine Europe gets.  In the USA, we get tons of Vitamin D compared to Europe. And Arizona…forget about it… We get 3,500 hours a year or more. One of … Continue reading Sunshine in USA vs. Europe

Real Estate Tax Breaks and Potential Dangers

As an office broker for 35+ years, I have done my share of corporate headquarters relocations and negotiations.  If you need office space, I am your man.   Part of any negotiation for a sizable relocation can be state and city incentives. The article below from the New York Times talks about companies taking advantage of this … Continue reading Real Estate Tax Breaks and Potential Dangers

C2 Velocity of Work

In my Workplace 2020 series, I talked about the speed of the market gaining velocity.  Millennials now expect an immediate response time.  After three decades of closing over 125 deals per year (151 in 2019) each and every year, we have fine-tuned our process to include the fastest response times in our industry. Below is a … Continue reading C2 Velocity of Work

This Trend is Likely Accelerating

As we come out of the COVID-19 quarantine, the number one question I am being asked (other than questions about rent deferment or abatement) is “what is this going to do to the office building layouts going forward?”  There are many prognostications and I have prepared my own presentation that I am giving to our … Continue reading This Trend is Likely Accelerating

Lobby Renovation Roadmap

Over the past five years, tons of owners have remodeled office buildings.  The first place they start is the lobby.  Below is an interesting graph for owners as they think about remodeling their lobby. Here are some key ideas that hit me when I saw this: 1—This is a year or more project. If you need to … Continue reading Lobby Renovation Roadmap

Office Hub and Spoke Model

The hub and spoke concept for companies using office space is an interesting concept. I am not sure it will work.  I personally think it will be too complicated for companies to have 2-3 spoke locations for employees. That said, huge companies seem to have no choice as they search for talent. See Tech Crunch’s … Continue reading Office Hub and Spoke Model

Post Lease Execution Thoughts

Congratulations, your lease is fully executed.  Now what?  Most brokerage professionals disappear before the ink on the lease has even dried.  Over time, we have found a number of ways we can help our clients as they transition into the next phases of their relocation or renewal.  We offer guidance and resources that start at lease execution to occupancy … Continue reading Post Lease Execution Thoughts

C.D.C. Recommends Changes to Office Space

The C.D.C. sent out some “suggested” changes for office space users as we head back into the office.  I wanted to take these suggestions and roll them into what we are seeing our clients do on a practical basis. Additionally, the Wall Street Journal has a nice article on what we know about getting infected. You … Continue reading C.D.C. Recommends Changes to Office Space

Net Population Gains Per Year

Population growth is a key indicator of economic health. So where are the top 10 net population growth areas in the US?  See below. –Surprise! Metro Phoenix is #1. This is not really a surprise for those of us who have been following this growth. –The Inland Empire in Southern California is second. This one did … Continue reading Net Population Gains Per Year

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