We write about the state and future of the office market in The C2 Voice weekly. Because we are on the front lines, we see trends happening as they develop. Today, we want to share a great study that just came out from NAIOP (the main association for Office Developers) that mirrors our perspective but … Continue reading Demand for Office Space Expected to Shrink Through Early 2024
You have taken all the right steps, 12-18 months before your lease is set to expire you have hired your broker (C2 of course!), identified 2-3 options you are happy moving into, negotiated a great deal with a great Tenant Improvement package and signed a lease. Now what??? It is at this point where most … Continue reading Project Management and More
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
We are honored to have been chosen as one of five finalists for Broker of the Decade in Metro Phoenix by CEM Magazine. The winner is determined via vote by the readers. We would greatly appreciate if you could take 30 seconds right now and cast your vote by clicking here (we are third in the … Continue reading 1-Minute Phoenix Metro Office Market Update: Q3 2021 and a 30-Second Favor to Ask
I get asked the question all the time: what is the water situation in Arizona? Most of my out-of-state clients are curious about water, how much we have, are we running out, the desert landscape of Phoenix, water levels, etc. Below is a short primer I put together for my readers that answers all these … Continue reading Arizona Water Scoop
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
I recently read a fantastic article from the Wall Street Journal on some of the greater effects of remote work. Being an office broker, I of course am focused daily on the office sector, but this article explores much more as this trend spreads throughout urban geography across the US. Some of my thoughts are below: The … Continue reading Zoom Towns
You may have noticed that I’ve spent more time than usual passing along information as it pops up. My job is to make sure you and our clients are on the cutting edge of where office space is going and how it is changing. Due to the pandemic, there is a lot of confusing data … Continue reading Reducing Office Space? 74% of Fortune 500 CEO`s Say It`s Likely
Conflicting views on the future of the office continue to volley back and forth in the media. Below is the NAIOP research division’s latest forecast for office space demand, which they feel will stabilize by the middle of 2022. NAIOP is the largest commercial real estate trade organization in the United States, carrying a relevant … Continue reading Office Still in Disarray
Readers of this narrative know that my team and I represent tenants and landlords primarily in the Metro Phoenix area. Every year we see more and more investors coming to us from outside Arizona, and even outside the U.S. Interest in commercial real estate investing is on the rise in the international community, which is … Continue reading CRE International Investors Coming to the US and AZ
The United States and Arizona both continue to recover from the pandemic. Below are two graphs from Elliott D. Pollack & Company showing the percent of jobs recovered and jobs left to recover from the pre-pandemic days here in Arizona. –The good news is that jobs are coming back. –However, we still have a ways … Continue reading Arizona Job Recovery
The housing market is on FIRE. We are seeing house prices skyrocket across the country, especially here in Metro Phoenix. How hot is it? The median price of a home in the US just hit $329,100. While I’m not in the residential sphere, I’ve been keeping an eye on housing prices and am amazed at … Continue reading $329,100
There’s no doubt that the pandemic has had far-reaching consequences for industries worldwide. In my business, the pandemic created several great markets (residential development and industrial); a sandstorm in our area of office space leasing (no one knows where we are going yet) and has devastated other segments (retail and hospitality). One other segment that was … Continue reading Commercial Sales Volume in a Pandemic
One of the first questions we get asked when we are working with a tenant is how long the process will take…..The answer is usually longer than you think. We created the below infographic to show a sample of our step-by-step process, the time it takes to accomplish and decision makers involved. There is a … Continue reading Preliminary Relocation Process
In February, I was able to watch the annual Land and Housing forecast by Land Advisors with Founder Greg Vogel. As usual, they didn’t disappoint with the wealth of great information they shared. I wanted to share a graph that was astounding to me: Resale of houses in metro Phoenix by days. Our team focuses exclusively on office and commercial, … Continue reading Phoenix Housing Market is Pure Fire
I recently found a great website with some very cool information and graphs on money flow trends and wanted to share it with you. Where has America’s money flowed over the last 5 years? People take their money where they think they will live their best life.Turns out that: –Money is flowing out of California at an … Continue reading America’s Money Flow
I have some global thinking for your narrative today. Lots of thought and energy is going into making the world more sustainable. There are many ways people are working towards sustainability, and below is a graph showing which countries are doing the best job. Here are my thoughts:1—The US is doing a good job (I know, we … Continue reading Countries With the Most Sustainable Energy Policies
Tenant Advisory and now National Tenant Advisory was formally created in 1982. Today, office tenants across the US with as few as 5-10 offices in different markets are hiring firms to handle their real estate portfolios. There are many reasons, but here are a few thoughts on why companies do this: Tremendous time savings Single … Continue reading Tenant Advisory Method
Today’s graph is messy at first glance. After you read my comments, simply click on the larger version to review in-depth. The colored lines show how fast different technologies have been adapted over time. Here are a few of my thoughts: –In general, we adopt technology pretty rapidly in the US. –Look for the number … Continue reading Technology Adoption Rates
I have written about this before, and the elephant in the room is STILL the amount of debt the federal government is taking on AND the pace. See below for a graph showing this trend. There will be a time to pay the penalty for this excess…but no one is talking about it now. The … Continue reading The Elephant in the Room
We know Amazon delivers thousands of items right to our house, often within 24 hours. Below is a map showing how they do it—with warehouses all over the US and world. With their push to handle more and more of their own delivery, this number will continue to increase. They are even looking to … Continue reading Amazon Warehouses
I’m a third-generation Arizonan, which means I love the sunshine. Below is a cool map that shows sunshine in terms of hours per year. It’s interesting how little sunshine Europe gets. In the USA, we get tons of Vitamin D compared to Europe. And Arizona…forget about it… We get 3,500 hours a year or more. One … Continue reading Sunshine in USA vs. Europe
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
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
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?
I’ve talked in previous narratives about the pros and cons of the current trend towards open office layouts. Work and how it flows has changed dramatically over the past 5 years. 75+ percent of all office spaces we see built out these days are primarily open. Companies are trying to make their culture more collaborative. … Continue reading Work Modalities Chart
Below is the US National Debt as a portion of the economy expressed as a graph. Since this graph was created, we have now surpassed World War II levels of debt, pushing debt to over 100% of GDP. You can see the most accurate calculation of national debt, which updates every second as it grows, here: https://www.usdebtclock.org/ The … Continue reading National Debt Growth
I attended the always-fabulous 2019 Land Advisors Phoenix Land & Housing Forecast back in December and guess what? The U.S. housing market is on a roll and doing just fine, thank you. Bonus: The Metro Phoenix housing market is the #1 market in the country. Why? A decade of not building enough housing to match … Continue reading U.S. and Arizona Housing Market
Who is winning in Metro to Metro Migration across the country? Phoenix. 1 in 7 out of state relocation’s come to Arizona and by far the majority move to Metro Phoenix. Check out this graph below to see other markets that are winners. If you want to read the whole article, here you go. If … Continue reading Net Metro to Metro Migration Winners
Below is a 2013 article Andy Conlin sent me analyzing high-rise construction in the United States. David Holmes takes an in-depth look at the major economic factors affecting skyscrapers (defined as buildings 18 stories or higher in this article) built since 2000. This timeline would include only one construction cycle and two recessions, but the conclusions are interesting. I’ve … Continue reading An Analysis of U.S. High-Rise Construction Activity in This Century