The amount of office space allocated for each employee continues to fall. Below is a graph and a short description why from Of Interest Today. While we all know it is happening, how does it affect landlords, tenants and investors? Depending on your perspective, you get massive differences: Owners: Issues with parking shortage, not enough A/C to cool all …
The Wall Street Journal did a detailed study on the urbanization of our world, and the challenges and strengths that come from this growth. Below are several interactive maps worth clicking on. Skip the first video unless you are into the topic, but be sure to pay attention as: –The world urbanizes –Key cities grow –Manhattan becomes Gotham …
I have been watching this trend unfold in the residential construction industry for the past year. Now it is spreading to all sectors. Contractors and subcontractors are having a heck of a time hiring to fill needs. In fact, 50% or more of all contractors and subcontractors are having issues. What does this mean for the market? My …
Last week, I sent an infographic on the huge wave of Millennials and what that means to the workforce and real estate industry. Today, I want to take that discussion a step further and talk about how Millennials design and influence the workplace. Lisa Bentley with McCarthy Nordburg, provided me with two insightful articles below that you can …
Below is a great infographic from UpNest on Millennials and buying residential real estate. Here are some stats that stand out: –25% of all Americans are Millennials (between 18 and 34 years old)–44.2% are minority or belong to an ethnic group—Within 10 years, 75% of the US workforce will be Millennials–75% want to buy (when they buy) a …
Want to know a disconnect between Commercial office developers and job creation? Developers are building bigger floorplates while job creation is coming from small companies. When I got into the business, office floorplates in Metro Phoenix averaged 10-15,000/sf. Today, new construction is looking at floorplates with a minimum of 25,000/sf all the way to 40,000/sf for multi-tenant office …
47% of Jobs Created by Companies with Under 50 Employees and 9 Other Trends Read More »
Below are a couple of handy charts. First, a graphic that shows the top 10 and bottom 10 states for taxes. I have also pulled a chart that shows state-by-state comparisons well. Not too many surprises, but here are a few highlights: –California and New York have the highest taxes. –Arizona is in the middle, ranked 24th. –Texas has been …
2015 was another great year for our team. Please see below for a recap of our year by the numbers. As we head into our 25th year at Lee & Associates Arizona, we are excited about new opportunities and blessed to have great clients. Thank you for being a part of our future. Craig 602.954.3762 ccoppola@leearizona.com P.S.- In …
In 10 short years, what will work look like? Gensler interviewed four futurists on this topic and below is the outcome. I have highlighted my biggest insights including these: –45% of Millennials are nonwhite. How will that affect the commercial real estate industry? Certainly the retail sector will be turned around as will all marketing campaigns. –How do real …
Seeing Star Wars Episode VII: The Force Awakens recently I cannot help but draw a parallel to the world of Metro Phoenix office leasing. Why? Because, like “the force,” net absorption awakened in 2015 posting 3.4 million square feet. This is the highest absorption since 2005 and has pushed our vacancy rate below 20% for the first time in eight years. (By …
How Do Star Wars and the Phoenix Office Market Relate? Q4 2015 Phoenix Market Report Read More »
