We work in the Phoenix market every single day, monitoring trends and staying on top of the latest developments. I wanted to see if the Metro Phoenix office market was any different from the global office market. Short answer: it’s not. The Longer Answer: — Office space was hit hard all over the world … Continue reading Phoenix Office Market vs. the World
I have written quite a bit about the numerous changes coming out of the pandemic with regards to how users are thinking about office space. Below my comments is a fine article from Fast Company, including this stat: There are 325 million people in the US and 500 million parking spaces. One change that office … Continue reading The Future of Office Space Parking
Can you “hack” your office space? Or better yet, can it be adapted? Below is a thought-provoking article from Gensler that asks this very question. My short answer is….maybe. Why do I hedge? Because you need to have some fundamentals in place to make it worth the adaptation. Here are the top three fundamentals required … Continue reading Can Office Buildings Adapt
Yes, we’re talking about remote work again. More and more employees want to work from home, and it’s clear why. More flexible hours, no commute, comfort, there are many benefits for flexible work. The trick for employers who need their workers back in the office is figuring out how to make their space appealing to … Continue reading How To Make the Office Like Home
The evolution of hybrid work continues as companies move on from the pandemic. While work from home (WFH) satisfies many, the allure of work from anywhere (WFA) may seem like a dream scenario. The article below from The Economist takes a closer look at the realities of completely untethered work. It’s important for employers and Landlords to understand … Continue reading Will Work from Anywhere Work?
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
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
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 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
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
2021 has been a wild and crazy year for everyone. We are proud of the work we did this year especially with the uncertain circumstances in the office market. Our clients have been amazing and we are grateful for each of you who worked with us this year. We spent 2020 locked down in Arizona….NOT … Continue reading 2021 Holiday Video–Our Travels this Year (1 minute 57 seconds)
Parking is not the most exciting topic, but for office developers and users it’s critical. Technology is changing everything in our lives and parking is no different. Yes, Uber and Lyft have already started the change as people can now get to and from locations without having to worry about parking. And autonomous driving is … Continue reading Technology Changing Parking
Business owners come to us and ask for our guidance and expertise on all things office space. One area that comes up all the time is the decision to lease or buy a building. We received this question so often, we created the below graphic to begin the conversation. While this is a great start, the … Continue reading Lease vs. Own
Now the messy part with hybrid work begins. 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 … Continue reading Hybrid Work Messiness
This narrative has been talking about changes in office space design, layout, and work flow for the last year. During COIVD-19, I decided to put together a summary presentation of the 10 changes office space users are making as we come out of the pandemic. I have given this presentation live (well, over Zoom) over … Continue reading COVID 19 Office Space Changes
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. … Continue reading Office Space to Compete with Remote Working
“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: … Continue reading Hybrid Works Get Messy
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
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. … Continue reading C.D.C. Recommends Changes to Office Space
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 … 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
In this final week of my series, I wanted to talk about what companies are doing for their employees. Yes, we know a few already—meals, bocce ball, corn hole and napping pods all across Silicon Valley. But what about across the U.S.? For this I turned to one of our clients and a leader in … Continue reading Office Space 2020- The Employee Experience- Part 4 of 4
One of the first lessons you learn when you start representing owners and tenants in leasing office space is that the tenant rules. They drive everything. Rates, Tenant Improvements, where buildings get built, what buildings get built — everything. Deloitte produced a very nice 2020 Commercial Real Estate Outlook (the link to the entire study … Continue reading Office Space 2020- The Tenant Rules- Part 3 of 4
Today I want to look at the workforce for this coming decade. We are living AND working longer. I wrote a previous narrative about how five generations of employees are now in the workplace. Check it out here. What does that mean having five generations in your office?: – We are having to plan for, manage, … Continue reading Office Space 2020- Workforce- Part 2 of 4
Welcome to 2020. As we start the new decade, I have prepared a 4-part series of narratives on office space 2020. For the next 4 weeks, I’ll be taking a look at what is going on in the workplace from a high level to set the tone for the decade. Part One: The Future Office. Below … Continue reading Office Space 2020- A 4 Part Series (Part 1)
I love to write this narrative each year. Annually, I get to comment on some of the coolest office spaces in the world and also highlight a couple clients we have completed transactions with in the past 12 months. First is a very cool tenant lounge that Cypress Properties and Oaktree built at Renaissance One. Next, … Continue reading World’s Most Beautiful Offices of 2019
Sometimes I geek out over office space. Today’s narrative is one of those just for the interested. Here is a link to a survey conducted by the National Association of Industrial and Office Professionals (NAIOP). This 50-page deep dive into the topic asks real estate owners and professionals their thoughts on Co-working vs. Building Collaborative … Continue reading Ready for an office space deep dive?
Below is an interesting article from The New York Times about office landlords seeking a competitive edge in leasing space to tenants. Our primary market is Phoenix, so when I travel or read, I am always watching out for trends and changes in what owners are doing and what tenants are leasing. Here are … Continue reading Gaining a Competitive Edge in Office Buildings
The entire world is being disrupted. Readers of this narrative know this. Here is the latest disruption: vertical warehouses with four stories. Why are these taking off? –Consumer demand for instantaneous delivery has caused the industry to take a hard look at the “last mile” and seek new ways to speed up delivery. … Continue reading Vertical Warehousing
For those who have followed my narrative for a while now, you might recall that WeWork and the overall rise of Coworking office space has been on my radar for the past few years (Click here to read “Rise of Collaborative Workspace” and here to read “WeWork now a $5 billion co-working startup”). The market … Continue reading Building Collaborative Areas vs. Coworking Space