We have been representing commercial tenants for almost 40 years. We are grateful that over 80% of our business comes from repeat clients. The rest are referrals. For the past 9 years, Andrew and I have been writing this C2 Voice, providing insights into the evolving market, new trends, and fascinating ideas. We have loved … Continue reading A Favor To Ask…
A few years ago, I sent out a C2 Voice on the Arizona water situation. I thought I would give an update on the status of water rights as we are now experiencing the first cut in Colorado River water in our history. Here are a few points to know: —Only 36% of Arizona water comes from … Continue reading Arizona Water Update
These are the crazy times in CRE. I have been leasing office space for 38 years and have NEVER seen the discrepancy in Office vs Industrial so great. It’s a tale of two markets for sure. Below, find a list of Office and Industrial buildings under construction as of Q2 2022. The difference between Office … Continue reading Office vs. Industrial 2022
In our latest Ten on One podcast, we spend 10 minutes with John Orsak, Vice President of Development at Lincoln Property Company, Desert Southwest. John oversees a huge office portfolio in Phoenix, putting him in the market seven days a week. He is in the know in all things office. Here are a few nuggets … Continue reading Ten on One- Latest Office Leasing Trends
For all of you holding out, it is time to accept Work-From-Home as mainstream. We think some version of this is here to stay, and while it may have peaked during the pandemic (check out my narrative on how a recession will impact WFH), it is something that all executives will have to take into … Continue reading Work-From-Home Explained
The Metro Phoenix Office Market hit a small speedbump in Q3 on the path to recovery. After posting a big net absoption in Q2 of +918,413 SF, Q3 slipped to -81,621 SF. This puts year-to-date net absorption at +532,634 SF, on track to finish well below our 20-year average of 2 million SF. What’s going with … Continue reading 1-Minute Phoenix Metro Office Market Update: Q3 2022
As you might recall, I am a long time Counselor of Real Estate (CRE). This organization puts out some of the most thought-provoking discussions about Commercial Real Estate. The below article is no exception, and is a great summary of the worker shortage, why we have one and what we see going forward. Here are … Continue reading Where Are the Workers?
The world ebbs and flows…the job market is going from being tight to soft. That is a cycle. The young people who have joined the workforce after 2008 have never seen a recession. It looks like one is coming, meaning many of the jobs they took for granted will disappear. A good article from the … Continue reading Job Market Softening
As you may recall, Andrew and I are a long time Counselors of Real Estate (CRE). Annually the Counselors of Real Estate organization has all the members vote and comes up with the most interesting and comprehensive list of Issues in our business. The 2022-2023 Top 10 Issues Affecting Real Estate report came out last … Continue reading Top 10 Issues Affecting Real Estate
The Inland Empire of industrial market is MASSIVE. It is estimated that 40% of all distribution to the US comes through the two ports located in Southern California. We spent ten minutes talking Inland Empire with Jeff Huberman, one of the top industrial brokers in California. What did we learn? –These ports are the gateway to … Continue reading Ten on One- California Industrial Market
We had a very busy second quarter. Clients hire us because we are in the market every day and close a transaction every 2 to 3 days (including weekends😊). If you want to know anything about office space, give us a call. Click here to see the full image. Craig 602.954.3762 ccoppola@leearizona.com
New York City lost hundreds of thousands of people last year — around 3.5% of its population gone in one year. In fact ALL cities with populations more than 1 million saw people move out, with the exception of Phoenix and San Antonio. The pandemic saw thousands of people reevaluate their lives and make the … Continue reading Phoenix And San Antonio Only Big Cities Growing
Everyone is talking about the looming recession. While I personally think it’s likely to hit in 2023, no one seems to be talking about how it could bring people back to the office. The article below discusses the reasons why a recession will lead to remote workers heading back into the office. Layoffs are coming (actually, they’re already here), and unemployment … Continue reading Weakening the Work-From-Home Revolution
Want to understand how employees really feel about the hybrid workplace? Microsoft has put out a fantastic report called the 2022 Work Trend Index Annual Report. An independent research firm conducted a survey with over 31,000 full-time and part-time works across 31 worldwide markets. This report also used valuable data from LinkedIn and Microsoft 365. Here are … Continue reading The Latest Insights and Stats on Hybrid Office Work
Office space is changing dramatically right in front of our eyes. In this Narrative, we have talked about work from home, flex time, and how office space is becoming more experiential. Today I want to talk about another area: PropTech. The article below from prommodo is titled: The Coming Tsunami of PropTech. Proptech companies are showing up at … Continue reading PropTech is Changing Office Space
We’re excited to bring you something brand new today. The first episode of our new video podcast, “Ten on One.” This new video format will feature a ten-minute podcast on one timely topic at a time. We promise to deliver: — Relevant, timely information — No BS — A summary of key takeaways Trust us, it will … Continue reading Ten on One: Post Covid Design Changes
The Metro Phoenix Office Market is in the midst of a recovery. Ok, a slow one BUT still a recovery. Net absorption, the net increase in physical office space occupied, and THE key market indicator, bounced back in a big way in Q2 at 913,413 SF. In Q1 it had slipped to a – 55,390 … Continue reading 1-Minute Phoenix Metro Office Market Update: Q2 2022
Zisler Capital Associates released a report that stated up to 70% of the total office inventory might be obsolete. This is a massive disruption for office building owners. Now, we know that how tenants use their space is changing dramatically post covid and with new, rising technologies (Zoom, Slack, everything in the cloud, etc). We also … Continue reading Up to 70% Office Building Obsolescene??!!
In 2010, psychologists Alex Haslam and Craig Knight did some experimenting with office space layouts (read the full article below for some fascinating history and thoughts). Here’s what they found: –Employees want to make their space their own. –When they get that opportunity, they do more and better work. Over a decade later and employees … Continue reading Office Space that Works
I recently wrote about office land sites going to industrial developers here. Below is one additional reason why this trend is happening. This is crazy. Take a look below, but first here are some of my thoughts: –The industrial market is on fire and the country is building out the last mile infrastructure. –Land prices … Continue reading Multi Story Warehouse
I’ve said it before and it continues to be true: Companies are moving out of California in record numbers. This migration is happening for a myriad of reasons. –rising business costs (taxes, energy, utility costs, etc.) –worker comp litigation and cost issues –cost of talent –cost of simply living The list goes on. Below is … Continue reading CA Companies Moving Out
It seems like every year there’s new research regarding office space layouts. There have been tons of studies on office layout and how they can help make employees happier and more productive. Below is a great study that surveyed employees at the end of 2019 to find out what they really think about their office … Continue reading Happy Employees
The majority of companies are back in the office under some sort of adjusted schedule. While work strategies differ, everyone can agree that build-out costs are painfully expensive. This is especially challenging during the war for talent that’s happening, and businesses need every dollar they can get to enhance the employee office experience. Since the … Continue reading 5 Solutions for Saving Money on Office
One huge area of change over the past decade is the amount of amenities tenants want and are now demanding. The competition for tenants remains fierce so landlords are providing more of amenities in their office buildings. The race to provide amenities got so heated over the last few years, we actually created an Amenity … Continue reading Building Amenity Checklist
As companies begin to return to the offices which have largely been left empty since the Covid 19 pandemic started, the first trend we are seeing is companies are going to have to transform the spaces into places where workers will want to be. This is an important move since there is now a shift … Continue reading Are the Suburbs Back? And other Office Trends from NAIOP
The office is evolving, not dying! Check out this insightful article put out by NAIOP Development Magazine. Going into the office must no longer be a thorn in the employee’s daily routine. It needs to be exciting. It needs to be inviting. And it needs to promote wellness. The author of the article, Trey Barrineau, … Continue reading Future Of Office
Last Mile Logistics is one of the hottest segments in Commercial real estate (multifamily remains smoking hot as well). Building out the ecosystem of companies (not just Amazon) to allow them to deliver products in a day (or even faster) is happening now. As a consumer, this is a fabulous and welcome change. However, the … Continue reading Last Mile Logistics
Inte kan cachelagras på grund av deras innehåll och därmed leda till en hög serverbelastning – fram till kollapsen av servern. Om du får ett meddelande om att webbplatsen är online (“DeineUrl.de” är UPP och kan nås) finns det ett lokalt problem. Sedan väljer du alla tabeller i tabellfältet och längst ned på “Testkörning?” ska … Continue reading Fixa Fel 0x80010108 I Windows 10
Have you figured out how your office will look in 2022 and beyond? Below is cool, quick article from Fast Company illustrating some of the changes happening in the office. Yes, they do mention some pretty big tech names, and we don’t all have the same construction budgets as Salesforce, but there are some great ideas … Continue reading Back to the Office, Differently
Considering how many companies have opted to allow employees to work from home since the pandemic, it’s good to know that many are still investing in workplaces, creating designs that are not only aesthetically pleasing but with features that are beneficial for the employees and the environment. The list below features multiple workplace designs from … Continue reading The World`s Best Workplace in 2021
The pandemic has created some new trends (mask wearing, expanded home delivery, ghost restaurants, etc.). That said, there has been even more acceleration of existing trends including last mile logistics, flex work schedules, and the rise of second-tier cities like Phoenix. Second-tier cities are growing like crazy and drawing the notice of institutional investors as well … Continue reading Second-Tier Cities Thriving
Lee & Associates corporate just released a nice summary called 7 Things to Know About Commercial Real Estate — a national overview of what you need to know about the market going into 2022. Here are my takeaways: –Industrial is ROCKING. And it will continue in 2022. –Multi Family is ROCKING (and has been for … Continue reading Commercial Real Estate in 2022
The big news from the 2021 year-end report is The Metro Phoenix Office market recorded 807,000 SF of positive net absorption. It’s also noteworthy for a couple reasons: 1—We finished the year in the black despite COVID, despite the lock down, and despite work from home. Second, it was the second straight quarter of positive … Continue reading 1-Minute Phoenix Metro Office Market Update: End of Year 2021
For the past decade, all eyes have been on the Millennial Generation, the first to grow up in the Internet Age. Now, the next generation after Millennials is graduating college and entering the workforce: Gen Z is starting to make its mark. Comprising 35% of the global population, they are a force to work with. … Continue reading Gen Z
Thank you for reading our narrative, working with us and helping make our team the #1 office team in Lee and Associates history. We had a very nice year despite the ongoing pandemic and its effect on office space. Thank you for reading our narrative and all the comments throughout the year. Craig PS: I was … Continue reading Coppola Cheney– 2021 By the Numbers