The C2 VoiceTM
- December 20, 2023
The final conversion we will discuss is office to medical. Medical Office Buildings (MOB) are a hot topic in the CRE world. The healthcare market is now doing almost $60 billion in revenue as of the end of 2023 and is projected to continue to grow at over 10.4% for the foreseeable future. Medical Office Buildings As …
Office to Medical? (Office Conversion Series – #6) Read More »
- December 13, 2023
Today, we are looking at converting office space to schools. As the private, charter, adult, and alternative school movement continues to grow, converting empty office space into schools has been very successful. Let’s see WHY: Pros: – Larger office buildings offer a good fit for schools that need lots of space. – There is greater opportunity …
Office to Schools? (Office Conversion Series – #5) Read More »
- December 6, 2023
We are halfway through our series and in today’s entry we’re talking about office to retail conversions. As retail vacancies continue to drop and office vacancies rise, owners are exploring the idea of converting unused office space into retail space. According to the Phoenix Business Journal, retail space has had a low vacancy rate of 5.1% …
Office Space Converting to Retail? (Office Conversion Series – #4) Read More »
- November 29, 2023
Today we’ll look at office to lab conversions. The idea of turning office space into lab space has been tossed around in the media for years. Most people would think this is the easiest conversion, but there are some challenges that come with this type of conversion. Let’s take a quick look at why people …
- November 22, 2023
This is week two of our office conversion series and today we discuss office to multifamily conversions. Right off, we count over 20 prime office sites in Metro Phoenix that have been developed as multifamily in the last decade. This site stealing is not new. The relatively new thing is developers taking existing office buildings and retrofitting …
Office to Multifamily? (Office Conversion Series – #2) Read More »
- November 15, 2023
As office building usage continues to drastically evolve, the conversations we are having around converting office buildings into different uses, such as Industrial, Multifamily, Labs, Retail, Schools, and Medical have gained significant traction. Over the next six weeks, I will explore each potential type of conversion, the pros & cons, what the challenges are for …
Office to Industrial? (Office Conversion Series – #1) Read More »
- November 8, 2023
WeWork… I have been following and writing about this company for a long time (here & here)….and have been telling everyone that the model they created was just not sustainable. Turns out, I was right. They filed for bankruptcy this past Monday. WeWork was founded in NYC in 2010. It reached its prime in January 2019 when the …
- November 1, 2023
The Third Quarter proved to be another reminder of how challenging these times are for the Metro Phoenix Office market. Net absorption went negative in a big way, at -355,027 SF over the past 90 days. This drags the year-to-date figure down to -540,940 SF and puts office users on track to vacate more space than they …
1-Minute Phoenix Metro Office Market Update: Q3 2023 Read More »
- October 25, 2023
We have represented a large number of start-up companies over the years. While we typically work with these companies on their real estate needs (shorter term leases, ability to grow, flexibility) sometimes we get to know them and watch as they grow into incredible companies. I was excited to interview Vivek Kopparthi the Founder and CEO …
Ten on One – Founding and Running a Start-Up Company Read More »
- October 18, 2023
Over the years, we have found there are less than a handful of brokers skilled in preleasing or leasing proposed pre-construction buildings. New development preleasing is an increasingly difficult skill that The Coppola Cheney Group has mastered for over 30+ years. Every project is different and every client’s needs are unique and time-sensitive. Our proprietary …
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