The Metro Phoenix office market gladly said goodbye to 2024, its worst year on record for net absorption. Reaching a total of -2.1 million SF, office tenants gave back more space in 2024 than even the worst year (2009) following the Great Financial Crisis: -1.3 million SF. {Click to Tweet } This means that companies are not done right sizing to …
1-Minute Phoenix Metro Office Market Update: Q4 2024 Read More »
In commercial real estate, location is KEY. The right spot can unlock success, while the wrong one could leave you boxed in. Here’s why location is everything when looking for a new commercial space. — Prime Real Estate: Visibility and accessibility can make or break a business. Whether it’s foot traffic for retail or proximity to …
After a tough few years for the office market—including industrial and multifamily sectors being brought back to reality—the commercial real estate industry is starting to see quite a positive outlook for the coming year. Happy New Year to all of us (especially those of us in the office sector)! Let’s break down the trends …
We have been talking about the future of the office market quite a bit in lately. Why? Because we are experiencing a seismic shift in one of the biggest sectors of Commercial Real Estate. The ripple effects will be felt for years and by a multitude of companies including: — Banks: Banks that have a high …
There’s a New Monster on Wall Street – And it’s Empty Office Space Read More »
The market is evolving, but The Coppola-Cheney Group continues to show that strong fundamentals and client relationships are the keys to staying ahead. Despite the challenges of 2024, our team continues to thrive. With 33 transactions across 5 different product types, we’ve leased and sold 382,626 SF in just the last 90 days. Here’s why it matters: — Our volume is …
The Metro Phoenix Office Market continues to navigate tough waters caused by the effects of COVID-19 and the Work from Home (WFH) phenomenon. Q2 2024 proved to be the worst quarter on record for net absorption, posting -883,286 SF. Compounded by the first quarter’s -497,019 SF, Metro Phoenix is on pace to set an annual record for office space shed. Negative …
1-Minute Phoenix Metro Office Market Update: Q2 2024 Read More »
I get clients and industry influencers asking me all the time, what does the office of the future look like? Instead of explaining in several paragraphs, I thought I would share this video case study that’s just under two minutes. Now you can see for yourself: Viad Forward Tilt This is a 7,500 SF regional headquarters in …
Want to See What the Future of the Office Looks Like? Read More »
I wanted to comment on some of the long-term changes in office space we have seen stick around after the pandemic. Spoiler alert: the biggest change is that hybrid work is still prevalent, and it’s not going away anytime soon. The McKinsey report below shows the dramatic changes the pandemic has brought to real estate in …
The Lasting Impact of the Pandemic on Office Space Read More »
While we represent both tenants and landlords on a daily basis, over the years we have also sold over 500 buildings—more than most brokers who specialize in just selling. To help new Commercial Real Estate investors begin to navigate the market, we put together the below risk spectrum for investments. — CRE investing offers a …
NAIOP just released a report on office demand for the remaining balance of the year and into 2025. Spoiler alert: the national office market follows my six-part series projecting what will happen in the Metro Phoenix office market. Here are some highlights and some of my comments in orange: — Q1, 2024 showed negative absorption of over …
New Report: Office Demand Expected to Shrink Through Early 2025 Read More »
