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 »
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 »
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 »
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 …
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 »
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 »
Office space is forever evolving — especially in the past 36 months. That’s why the Coppola-Cheney Group is constantly adapting to the current market. To stay relevant, we have to meet the wants and needs of people and companies like YOURS. As you can see from the graphic below, the constant evolution of the market …
The demise of office space is over exaggerated… If you look at our team’s business, we continued to close a transaction every 2 days over the last quarter. C2 is representing, touring, negotiating, and closing deals. –We would love to work with you. –We know the market….todays’ market. –We have insider information on deal terms …
4th Quarter Recent Transactions: Strong Start to 2023 Read More »
2022 flew by. Before the year gets away from us, we wanted to say thank you for helping us succeed. Reflecting on our transactions, our relationships, and our business over the past year, I have these few takeaways: –We are blessed to have fantastic clients. While the office market is still in a sandstorm for …
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 …
