Location has been the cornerstone of all commercial real estate decisions since the industry began. Location, Location, Location. But with the rise of technological advancements, this sure-fire parameter is being tested. Here are just a few of the trends pushing the boundaries of location: —Remote work. People are working from anywhere and everywhere. This trend … Continue reading Redefining Location
As you may recall, Andrew and I are a long time Counselors of Real Estate (CRE). Annually the Counselors of Real Estate organization has all the members vote and comes up with the most interesting and comprehensive list of Issues in our business. The 2022-2023 Top 10 Issues Affecting Real Estate report came out last … Continue reading Top 10 Issues Affecting Real Estate
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
The majority of companies are back in the office under some sort of adjusted schedule. While work strategies differ, everyone can agree that build-out costs are painfully expensive. This is especially challenging during the war for talent that’s happening, and businesses need every dollar they can get to enhance the employee office experience. Since the … Continue reading 5 Solutions for Saving Money on Office
As companies begin to return to the offices which have largely been left empty since the Covid 19 pandemic started, the first trend we are seeing is companies are going to have to transform the spaces into places where workers will want to be. This is an important move since there is now a shift … Continue reading Are the Suburbs Back? And other Office Trends from NAIOP
Last Mile Logistics is one of the hottest segments in Commercial real estate (multifamily remains smoking hot as well). Building out the ecosystem of companies (not just Amazon) to allow them to deliver products in a day (or even faster) is happening now. As a consumer, this is a fabulous and welcome change. However, the … Continue reading Last Mile Logistics
For the past decade, all eyes have been on the Millennial Generation, the first to grow up in the Internet Age. Now, the next generation after Millennials is graduating college and entering the workforce: Gen Z is starting to make its mark. Comprising 35% of the global population, they are a force to work with. … Continue reading Gen Z
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
A few weeks ago I wrote a narrative about rankings, and what I look for in markets where I believe companies will thrive. I posed four questions to ask with the number one question being: Is the market growing? Below is a great article from the Washington Post on where America is growing by new land … Continue reading Where America’s Developed Areas are Growing?
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
A few years back I wrote a narrative on indoor farming (you can read it here). The technology has grown and grown (pun intended) and now we are seeing some incredible changes. Sananbio, one of the world’s largest indoor farming technology providers, has announced an unmanned vertical farming system. Here’s how it works: –Pour the seeds in … Continue reading Indoor Farming
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
I’ve lost track of how many narratives I’ve written about how technology is changing the commercial real estate business. Here’s another one. 5G is on the way and it’s coming fast. What does this mean to the Commercial Real Estate Industry? Below is an article on strategizing for the arrival of 5G technology. Some of my … Continue reading 5G and CRE
At the NAIOP national convention this past fall, a few speakers touched on the topic of what is going to change when autonomous cars and UBER/Lyft allow workers to stop driving to work. Below are some key slides from the presentation done by Juan Dorado, John Cadenhead and Steffen Turoff. For each slide, you can click … Continue reading Parking and the Driverless Future
I first commented on this topic back in 2015 (click here to see my narrative and the video). The age of robotics is coming. And last month, it got even closer. Boston Dynamics announced their first commercial robot is going on sale. Yes, it will be expensive and limited, BUT it will be a commercially … Continue reading Robotics are Here!
We are all watching and waiting to see what happens with autonomous vehicles (especially those of us who live in Metro Phoenix as we have a number of companies testing AV’s every day). We thought they would never come, then we thought they would be here in 2020, and now… here is an update. Turns out … Continue reading Standoff with a Jaywalker
We know technology is changing our lives. What is astonishing to me is the speed of adoption. The second graph in the below article shows just how fast this is happening with new technology—The lines are almost straight up. Here is why: Today’s consumers want immediate impact in their daily lives. With cell phones and … Continue reading The Speed of Technological Adoption
Watching and learning outside our industry over the past decade, I have seen how Big Data is taking over. Well, it’s finally coming to Commercial Real Estate. How much? Below is a graphic from CB Insights showing the companies and areas they are working on for creating smart cities. Here are some thoughts from … Continue reading The Big-Data Deluge
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
Chinese company, Tencent, just finished its global headquarters. In previous narratives, I have discussed US-based tech companies’ cool new headquarters (Click here to read my narrative on Apple’s HQ). This week, I have included two different articles about the same building. What is different? Technology. In China, the government allows some technology that is not … Continue reading Chinese Company Headquarters WAY different than U.S.
One trend I actively follow is automation. In 20 years, what jobs will be done by robots? With new advancements in technology, it’s not just the routine data entry and labor jobs that are in danger anymore. Robots can now analyze emotions, perform surgical operations, even drive semi-trucks across the country. All these developments beg the … Continue reading Humans are Underrated
Technology is changing everything, from the way we eat and drive, to how we communicate and work. The “digitalization of everything” is changing how we work and therefore the skills we need to do our work. Brookings produced a study in late 2017 that is highlighted below and here is a link to the full study. Here are … Continue reading The Digitalization of Everything
Over the past few months, Amazon has been very public about their search for a second headquarters. (They have looked at 238 different cities.) I wanted to share a bit of this process and what it might mean to the economic development communities across the country. The Amazon announcement will play out over the next year, but the … Continue reading Amazon Headquarters Selection Process
What would you do if you had an unlimited budget to improve your company’s next office renovation? Below is a great article detailing what some tech giants are doing to their interior design to keep their employees happy, productive and in the office. One simple takeaway is that these companies are doing THE most innovative and comprehensive buildout you … Continue reading How Tech Office Space Sets the Bar for Everyone Else
In this narrative I talk about disruption quite a bit. My own industry, brokerage, is in the bullseye of all tech companies. Below is a Forbes article discussing how technology will do 90% of my job within a decade. Scary, right? Here are some highlights of this work: – Automation may be capable of taking … Continue reading Getting Disrupted
If you’ve been following this narrative for a while, you know that one of my favorite topics is how technology is disrupting the world around us. Of all the technology I’ve covered, by far the most exciting development is autonomous vehicles. Almost every major tech company is involved in this technology, from Uber, to Alphabet … Continue reading Autonomous Vehicles
Finally. Maybe? No shot!! Those were my immediate thoughts when I read the below article. The war over office temperatures has been fought for decades. The ability to heat and cool their space for themselves, is one of the biggest issues our tenants have. In Arizona, this is compounded by the heat and sunlight beating on … Continue reading Finally! A Possible Solution to Thermostat Wars
I remember in high school (proud graduate class of ’79 Buena High School in Sierra Vista, AZ) my economics teacher Joe Bob Cole told us that the person or company that figured out how to make solar power economical would be rich. Fast forward 38 years (I just felt really old typing that) and guess … Continue reading World’s First Solar Panel Road
Months ago, I wrote a narrative on old warehouses becoming indoor farms. (Click here to read.) Now, we are seeing shipping containers being used to grow produce. No transportation costs and no packaging costs are clear advantages of this new way of farming. Here are are few more: – Each 320 sq. ft. box has the growing power to … Continue reading Shipping Containers and Farming?
3D printing is by far one of the most exciting and innovative technologies hitting the market today. But most people have no idea how far along the technology has come. From ears to planes, car parts to prosthetic limbs, and now entire office buildings, 3D printers are already creating amazing things and disrupting entire industries in the … Continue reading A 3D-Printed Building?
This week’s narrative features some brand new “WOW” technology. In early 2017, Amazon is opening the first store without any checkout lines. You scan your smartphone on the way in, shop, and walk out when you are done. Watch this short video to see how it works: What will this do to shopping? … Continue reading Shop and Leave…No Checkout Line
Commercial Real Estate is notorious for NOT being market leaders in technology adoption. Why? The Urban Land Institute has an interesting article below that includes these explanations: Old Timers. The industry is full of dinosaurs. Senior Real Estate professionals are the key to developing successful products, having the industry knowledge and expertise that tech companies don’t have. As we see … Continue reading CRE Lagging in Tech Adoption – Why?
Artificial Intelligence (AI) used to be the stuff of science fiction. But today, it’s becoming a rapidly-evolving technology with massive implications for many industries. Below is an article about the world’s first AI lawyer. Why would this make me think about commercial real estate? We represent a large number of law firms. (Check out our Law Firm Experience.) This … Continue reading World’s First AI Lawyer Hired
Despite a drop in funding, tech startups are still disrupting the market at a fast rate. Below is a great article highlighting the biggest disruptive startups in commercial real estate. Read on to see what segments of the market VC money is flowing to. Not totally surprising, the tech market is down from 2015. Though … Continue reading Where VC Money is Flowing For CRE Startups
A few weeks ago, I shared my thoughts about driverless cars hitting the roads and the issues office space will be facing (click here to read). Now, that technology is working with the trucking industry, and as the below article shows, it’s going to have a huge impact on many parts of our lives. Recently a platoon of driverless trucks drove across … Continue reading Driverless Trucks
The next five years will bring tremendous change in our lives. Part of this narrative is to look out for changes in the Commercial Real Estate industry. Virtual Reality (VR) tours are coming, and fast. Imagine being able to walk through a proposed building, pick from a variety of office furniture and layouts, choose from a detailed … Continue reading Virtual Reality Property Tours?
I have talked about autonomous cars previously. All of the coming disruption is just the next evolution in transportation. If you think driverless cars won’t happen in your lifetime, you’re wrong. Here is a link to a New York Times article about Ford putting these automobiles on the road in less than 5 years (click here to read). Starting in … Continue reading Autonomous Cars
We know technology is disrupting business at an incredible rate. One big area is using drones. There has been a lot of controversy and excitement about introducing drones to business, the military, and more. This technology has the potential to disrupt many industries. Below is an article detailing some companies that have already begun testing drones, including … Continue reading Using Drones in Business
Sustainability is a huge priority for many in commercial real estate these days. The movement towards green, sustainable buildings has opened the doors for new innovations. The below article highlights a building in Amsterdam that received the highest score for sustainability in the world from BREEAM, the world’s leading assessment for sustainable buildings. Even more exciting for … Continue reading World’s Smartest Building
1,000 cars valet parked in a garage. No humans. Unreal. See the story below and if you are really interested, check out the two minute video of the largest parking garage in Europe that is completely run by robots. I have sent some previous narratives on robotics and how it is eliminating jobs. This is one area it will change – … Continue reading Robotic Parking
Our team handles 50+ tenant advisory assignments every year. Why? We like to think it is because we are really good. But there are many other reasons to hire a broker including: Researching and looking into office space takes up a large amount of time. Do you have the luxury of stepping away from your immediate job responsibilities … Continue reading Why Use a Broker?
Each January, I attend Abundance 360 produced by Peter Diamandis. One takeaway this year was how fast driverless cars are becoming a reality. This will happen in our lifetime. Google autonomous cars have over 1,000,000 miles in Palo Alto (click here). Tesla has a new package that will drive your car on the highway (click here) and there are at least … Continue reading Game Changing Trend is Happening Right Now
Okay, now things are getting creepy. Or I am just getting old fast. Below are the coming trends on wearable technology and now implantable technology and how it is changing the office worker. How about: –No more fobs to get into your office –No need to take your gym membership card to the gym –Swipe … Continue reading Implantable Technology for Your Employees?
The tech market is hot. The Commercial Real Estate tech market is frothy. The reasons behind why there is so much interest in real estate right now are summarized nicely in my green highlights below. The market is gigantic. I know I bored a few of you with my five-day-in-a-row slog of all the real estate start up … Continue reading The Impending Opportunity In Real Estate Technology
As competition for hiring millennials continues to increase, companies are trying to lure them by moving into the city to offer urban living as a perk. Is this a long term trend? For me, I think it is something that may continue for the next 5-10 years. But I believe that millennials will ultimately start … Continue reading Tech Firms Moving to the City
Below is an article on the most amazing use for warehouses—an indoor farm. This farm is 100 times more productive than traditional farms. Even if you have no interest in the topic, take a minute to scroll down and look at the photos. Here are some amazing facts: –25,000 SF of space –Produces 10,000 heads … Continue reading World’s Largest Indoor Farm
As you know, I make my living in the office space market. However, I still like to keep up with trends outside of the industry and how they will eventually affect office space. Below is an article about the megatrend now taking place in robotics and what amazing changes are occurring. One of the reasons job recovery has been slower … Continue reading The Rise of Robotics
Today, I want to share with you a company that has a wonderful idea. If they can get this commercialized, it would revolutionize parking lots and roads. Imagine solar panels as surfaces in parking lots, roads and even highways. This is a short article with just some highlights. I would love to see the day where an abundance of our … Continue reading Coolest Technology that Could Affect Commercial Real Estate
In my final narrative for the week, I thought I would end with the company that I believe has made the most impact on our business: CoStar. Before CoStar, all companies had to do their own property research. This was time consuming and expensive. When I first started in the industry, each quarter, every broker in our firm had to … Continue reading Day 5: The One Commercial Real Estate Tech Company that Changed Our World
Hope you are finding this week’s series interesting. We are in the homestretch. Below are six additional companies to review. Zillow is probably the only household name among them. Enjoy. Craig 602.954.3762 ccoppola@leearizona.com Company Name: http://www.gethightower.com/ Upper Management: Brandon Weber, CEO Donald DeSantis, CDO Niall Smart, CTO Business Strategy: Hightower’s strategy is two-fold: One, to sell software to owners who … Continue reading Day 4: Tech Companies Trying to Eliminate/Assist Commercial Brokerage
Over the next two days, we will review 12 different technology companies that are in the commercial real estate space. Before I look at the companies that are trying to take business from commercial brokerage companies, a little background is necessary. I want to break the commercial brokerage industry down into two key segments: leasing and investment sales. … Continue reading Day 3: Tech Companies Trying to Eliminate/Assist Commercial Brokerage-First Six
Day Two of our Five-Day Series–In the early 2000’s, before the dot com bubble burst, hundreds of millions of dollars were invested and lost by startup companies trying to turn the commercial brokerage process into an automated endeavor. The theory was, and still is, that real estate brokerage can be automated like the travel agent business and … Continue reading Day 2: Why Tech Has Stayed Out of Brokerage for So Long and A Case Study of a Company Trying to Change It
I spent the last six months reviewing technology companies that are trying to disrupt the commercial brokerage industry in various ways. Over the next five consecutive days, I am going to share with you a number of these companies, what they are trying to do, who has invested in them and, of course, my take on their … Continue reading A Special 5-Day Series on Technology Companies Trying to Replace Commercial Brokerage–Day 1
In the beginning of 2014, I ran a five-part series on the new gigantic and expensive corporate headquarters that are being designed and built by the leading tech companies in the world. As we close the year, the NYT ran an updated article (we have included it below) on most of the headquarters we researched. They also had a … Continue reading Another Look at the Corporate HQ for Tech Companies
Crowdfunding has become a hot market for all kinds of ideas, such as the potato salad guy who raised over $55,000 for his recipe (Click here to learn more). The commercial real estate market is not immune to this new trend. With the passage of a new law, there has been a 334% increase of crowdfundings in commercial real estate properties year … Continue reading One Commercial Real Estate Tech Industry to Watch Close for the Good AND the Bad