The C2 VoiceTM

Phoenix Historical Office Statistics

The last time metro Phoenix office vacancy was 16.1% was in 2007. It took us 12 years to get back to the same vacancy. It was a long, tough road back, but we are finally there.  However, this time around, there are some big differences comparing 2007 and 2019: 1-Average rents (not Class A rents which …

Phoenix Historical Office Statistics Read More »

After a quiet second quarter, the Greater Phoenix office market experienced a HUGE third quarter in terms of tenant activity.   Over 1 million SF of net absorption (think job growth) was recorded in just a 90-day period, making 2019’s year-to-date net absorption 2.64 million SF – almost matching space absorbed in all of 2018, and …

1-Minute Phoenix Metro Office Market Update: Q3 2019 Read More »

In 2015, I said this was not a good investment.   In 2018, I said, I couldn’t believe this was still going on.  In April this year, I reiterated this was going to crash….and it finally has.  But that doesn’t mean I’m happy I was right.    What was my prediction?  WeWork (now We Company) was not …

I Got One Right… and I am not happy about it Read More »

One of the best parts of being a Counselor of Real Estate (CRE) is the annual debate about what issues are driving real estate.  Boy have they changed over the last 5 years.  For 2019-2020, our organization has come up with a couple issues that you would have NEVER guessed would have been on the top …

2019-20 Top Ten Issues Affecting Real Estate – My Annual Take Read More »

McKinsey did a pretty interesting study on creating a superior customer experience strategy.  As you can imagine, it’s not just the actions of the front-line, customer-facing workers that adds the ‘customer first’ experience to a company, but the executives and strategy as well. The more a company invests in the interests of their employees, the …

#1 Item for a Superior Customer Experience Strategy Read More »

Sometimes I geek out over office space.  Today’s narrative is one of those just for the interested.  Here is a link to a survey conducted by the National Association of Industrial and Office Professionals (NAIOP). This 50-page deep dive into the topic asks real estate owners and professionals their thoughts on Co-working vs. Building Collaborative …

Ready for an office space deep dive? Read More »

  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 …

Gaining a Competitive Edge in Office Buildings Read More »

It’s July in Phoenix and it is hot — both in temperature and in the office market.  The office market remains hot but office net absorption (job growth) cooled off in the 2nd quarter, posting just 245,000 SF in Q2.  Mid-year net absorption stands at 1.5 million SF and will likely hit 3 million SF …

1-Minute Phoenix Metro Office Market Update: Q2 2019 Read More »

I saw the below graph and article and it hit me:  there are 5 generations now in the work force.  How is anybody managing that?  Then my commercial real estate mind immediately kicked in and thought:  how are we designing space to accommodate the various needs of each cohort? The truth is, I’m sure we are….at …

5 Generations in the Work Force Read More »

  There has been a lot of talk about the middle class getting squeezed and the numbers below bear this out.  Take a look at the graphs.  What does this mean to the average worker?   Rent, medical costs and tuition have increased more than income, shrinking savings. The median hourly wage in the U.S. …

The Shrinking Middle Class Read More »

Search

Join The C2 Voice™

Sign up to receive The C2 Voice™. You will receive insightful and concise comments on all things commercial real estate and other interesting topics. Look below to see our archived narratives.

Scroll to Top
Skip to content