The Metro Phoenix Office Market continues to face significant headwinds in 2023. Net absorption, measured by the net change in physically occupied space, came in at negative 127,468 square feet in Q1. This means the office recovery took a step backward after realizing positive net absorption in the same amount during the last quarter of …
1 – Minute Phoenix Metro Office Market Update: Q1 2023 Read More »
We are living in the office space reimaging projects every single day. Where is the office going? There are a lot of articles coming out about the demise of office now. I just picked two so you can see what people on the street are saying. As experts in the office world, what do we …
The demise of office space is over exaggerated… If you look at our team’s business, we continued to close a transaction every 2 days over the last quarter. C2 is representing, touring, negotiating, and closing deals. –We would love to work with you. –We know the market….todays’ market. –We have insider information on deal terms …
4th Quarter Recent Transactions: Strong Start to 2023 Read More »
The Metro office market continues to trudge along its own path of an extended (up and down, circular) recovery. Direct vacancy actually decreased slightly to 17.5%, 500 basis points lower than our 20-year average. Meanwhile, average asking rates actually increased by $0.46/SF per year between Q3 and Q4. However, net absorption, the most critical indicator of market …
1-Minute Phoenix Metro Office Market Update: Q4 2022 Read More »
These are the crazy times in CRE. I have been leasing office space for 38 years and have NEVER seen the discrepancy in Office vs Industrial so great. It’s a tale of two markets for sure. Below, find a list of Office and Industrial buildings under construction as of Q2 2022. The difference between Office …
The Metro Phoenix Office Market hit a small speedbump in Q3 on the path to recovery. After posting a big net absoption in Q2 of +918,413 SF, Q3 slipped to -81,621 SF. This puts year-to-date net absorption at +532,634 SF, on track to finish well below our 20-year average of 2 million SF. What’s going with …
1-Minute Phoenix Metro Office Market Update: Q3 2022 Read More »
The Metro Phoenix Office Market is in the midst of a recovery. Ok, a slow one BUT still a recovery. Net absorption, the net increase in physical office space occupied, and THE key market indicator, bounced back in a big way in Q2 at 913,413 SF. In Q1 it had slipped to a – 55,390 …
1- Minute Phoenix Metro Office Market Update: Q2 2022 Read More »
I’ve said it before and it continues to be true: Companies are moving out of California in record numbers. This migration is happening for a myriad of reasons. –rising business costs (taxes, energy, utility costs, etc.) –worker comp litigation and cost issues –cost of talent –cost of simply living The list goes on. Below is …
It seems like every year there’s new research regarding office space layouts. There have been tons of studies on office layout and how they can help make employees happier and more productive. Below is a great study that surveyed employees at the end of 2019 to find out what they really think about their office …
One huge area of change over the past decade is the amount of amenities tenants want and are now demanding. The competition for tenants remains fierce so landlords are providing more of amenities in their office buildings. The race to provide amenities got so heated over the last few years, we actually created an Amenity …
