Last week, (week 1 of my 6 week series), I analyzed the overall Metro Phoenix office market. Now, let’s spend a couple weeks looking at some key submarkets within Phoenix, analyzing their past and looking ahead to their future. Today, we are going to look at the Central Business District (CBD) which includes Downtown and Midtown. …
Office space is in the middle of a massive disruption: Offices Around America Hit a New Vacancy Record. For over 40 years and 4,000 transactions, we have been guiding our clients on their office space needs. In late 2023, I did a series on the various types of repurposing where I reviewed five different types and the pros …
The Metro Phoenix Office sector had a tough 2023, ending the year with overall negative net absorption for the first time since 2010. This is concerning, but there is a silver lining in Q4 that stopped a three-quarter losing streak of negative absorption. Q4 2023 saw 68,616 SF of positive net absorption, however not enough …
1-Minute Phoenix Metro Office Market Update: Year End 2023 Read More »
2023 was a big year for The Coppola-Cheney Group. Why? Our numbers below speak for themselves. We had a great year of closing transactions, but that is not all we accomplished. Our C2 Voice blog grew by 20%, we started our Ten on One Podcast and our community loved it. If you want to see what a …
What can we look forward to regarding workplace trends this year? The 2024 Workplace Trends report by Glassdoor below offers a nice summary of what is going on in the trenches today. We are always looking for insights into the ever-changing labor market and the workplace. Key takeaways and my thoughts from the report: Generational Shift: …
Over these past 90 days, C2 has been executing transactions – and a lot of them! Whether the market is falling or thriving, we still perform. With 33 transactions in just the last 90 days, we are completing deals every 3 days….come hell or high water (or a tough office market). This quarter, 25% of our transactions …
Coppola-Cheney Recent Transactions in a Challenging Market Read More »
Every year, The Counselors of Real Estate “CRE” release the Top Ten Issues we face in the world of real estate. The 2024 report has been released and we have some thoughts on it. We face these issues every day and I am sure you have experienced some of them as well whether you work …
To finalize our office conversion series, I want to summarize the growing interest in office conversions based on the market forecast with some global takeaways. 1. The best use for any office building will ultimately depend on the existing office building. NAIOP came out with a great report (You can read a full report here) that …
SUMMARY: Converting Office Buildings to Different Uses (Last of Our Series) Read More »
It’s that time of the year again where we thank you for being part of our lives and business. This year, we received lots of fantastic feedback on our C2 Voice, and we are so grateful to all of you who took the time to read, engage with, think about, and respond to these emails. …
The final conversion we will discuss is office to medical. Medical Office Buildings (MOB) are a hot topic in the CRE world. The healthcare market is now doing almost $60 billion in revenue as of the end of 2023 and is projected to continue to grow at over 10.4% for the foreseeable future. Medical Office Buildings As …
Office to Medical? (Office Conversion Series – #6) Read More »
