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 »
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 …
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 »
As the market evolves, so do we. For almost 40 years we have been solving clients’ needs with their headquarters, operations centers, storefronts, warehouses, and more. We find the best fit to meet their greatest need. Over the last 90 days, this has been as true as it ever was. We completed deals that required industrial …
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 …
Where are office users going? That is a trick question in today’s market. They are still here — they are just changing, and becoming more demanding. Due to hybrid work becoming more common over the past few years, companies have to entice workers to come out of their homes and back into the office. Office …
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 …
Demand for Office Space Expected to Shrink Through Early 2024 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 Office market is in a crazy spot and we have been living it for over 3 years and counting. Now, we are starting to get glimpses of the future and, for a ton of office buildings, the future is not pretty. Class B and C office space in particular is getting hurt for a …
Aging Office Buildings Are Having a Midlife Crisis Read More »
We continue to talk about the return to the office in this narrative because it’s at the forefront of our clients’ minds. The below report from Leesman polled real estate leaders on the state of the workplace following the Covid-19 pandemic. Here are a few takeaways I found most interesting: –Almost 40% are planning major changes …
