There’s no doubt that the pandemic has had far-reaching consequences for industries worldwide. In my business, the pandemic created several great markets (residential development and industrial); a sandstorm in our area of office space leasing (no one knows where we are going yet) and has devastated other segments (retail and hospitality). One other segment that was …
I am still closely watching the work-from-home (WFH) trend that began a long time ago but really accelerated last year when the Covid pandemic first hit. Many businesses are now returning to the office, with optional WFH schedules or reimagined spaces. Every business is handling the return to their office differently, and some have found …
The pandemic certainly took its toll on the Metro Phoenix Office Market in Q1. The numbers tell us it was the worst quarter since the Great Recession (2008): Net absorption (new office space taken by job growth) went negative for the third quarter in a row, at -550,000 SF; sublease space increased at the highest …
1-Minute Phoenix Metro Office Market Update: Q1 2021 Read More »
Below is an older article (9/2016), that discusses the evolution of office space. Why am I sending this now, right after the economy shut down and the COVID-19 pandemic? Because the points made below can and will show you a couple of key topics that are still relevant when discussing commercial office design and investment: …
The Evolution of Office Space Utilization in the U.S. Read More »
The Wall Street Journal article below is a very good summary of what we are hearing a ton these days: How can I make my office more dynamic and experiential? As we go back to our offices, simply returning to the old, pre-COVID layout with the same furniture and work methods, is not going to cut it when it comes to competing for new …
It seems like forever ago that the entire work force was sent home from their offices to hunker down and try to be productive while waiting out the pandemic. While telecommuting is not a new word, companies have always considered it an experiment and been very slow to embrace it. For years, telecommuting or working from home, either partially or full …
I recently found a great website with some very cool information and graphs on money flow trends and wanted to share it with you. Where has America’s money flowed over the last 5 years? People take their money where they think they will live their best life.Turns out that: –Money is flowing out of California at an incredible …
I believe (as does Industrious’ Jamie Hodari below) that companies are going to be moving back into the office eventually for a number of reasons I have discussed in this narrative previously. As we continue to get our heads and arms around the pandemic, we still need to work. Here are a few takeaways from …
We now believe the national office market will likely have negative absorption for 2020 and, depending on how long the pandemic lasts, into 2021. Globe Street has a nice overview in the article below my comments. Here are some of my thoughts on the office sector looking forward into the next year. Why negative absorption …
We are spending a fair amount of time in this narrative looking at the issues of office space in a post-COVID-19 world. As I write this, we are still in a COVID-19 “sandstorm” without any real clear direction. However, we can look at the various options that are being thrown out as alternatives. One of …
