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
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
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
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
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
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
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
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
Over the past few months of quarantine, the most asked question my team and I have received has been, “Will there even be a need for office space in the future?” Short answer: Yes. Below is a great article from the Wall Street Journal that summarizes some of the critical issues facing companies as we … Continue reading Remote Work Isn’t So Great After All
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?
