Category Archives: Office News & Trends

Valuable expert-provided insight for investors and users of office property located within the Phoenix market.

2018 & beyond: What will the law firm real estate landscape look like?

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The growing momentum in the global economy has forged a new path for the law firm real estate market. With more than 65 million square feet of new office supply under construction in just the U.S. alone, law firms are finding myriad choices for both location and space that’s… Read More

JLL’s Chief Economist shares his view on today’s U.S. economy and its impact on Phoenix

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JLL Chief Economist Ryan Severino recently visited Phoenix to present his views on today’s U.S. economy and the impact national conditions may have on the Phoenix commercial real estate market. Here are his top 4 takeaways.

1.Goldilocks economy should continue, with the potential for upside depending upon policy.

Global growth continues to accelerate… Read More

Southeast Market Area is home to the majority of new office construction in Metro Phoenix

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There was nearly 1.5 million square feet of new office under construction in Metro Phoenix at the close of the third quarter 2017. Over half of the new construction is pre-leased, occurring mostly in build-to-suit projects. The majority of development in the Valley is located in the Southeast Market Area, totaling 960,548 square feet.

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JLL completes corporate HQ lease renewal for ICM Document Solutions

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Phoenix-based company builds on almost 30 years in Phoenix market

Tenant representation experts in the Phoenix office of JLL have completed a corporate headquarters renewal lease for ICM Document Solutions, a Phoenix-based corporation that has operated in the Valley since 1988. The lease renewed the company’s 15,920 square foot headquarters located within Phoenix’s Cotton Center business park at 4320 E. Cotton Center Boulevard.

JLL Vice President Trevor Pratt and Managing Director John Pierson… Read More

Labor shortage increases costs of Phoenix contractors, engineers and architects

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Construction activity is robust in the Phoenix market, and is expected to continue through at least the first half of 2018 based on current forecasts. Office, industrial and multifamily development is at an all-time high, and there are many new ground-up, build-to-suit projects underway throughout the… Read More

Phoenix office rents increase to highest level in nine years

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Office rental rates in the Phoenix market increased to $25.21 per square foot in the second quarter, quickly approaching the previous peak of $26.82 per square foot set in 2007.

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With absorption surpassing 12.6 million square feet and only 8.8… Read More

Deadlines to appeal property taxes is fast approaching

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As the real estate market continues to appreciate in value, commercial real estate owners are advised to review and, if prudent, appeal property tax assessments. Counties in Arizona, Utah and California have or will be issuing assessment notices and hearing appeals in the fall providing an opportunity for commercial… Read More

No. 1 office trend in commercial real estate: identifying your culture

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Earlier this week, JLL’s office tenant representation specialist Matthew Coxhead participated in an Arizona Tech Council Lunch & Learn panel discussing office trends in commercial real estate. Hosted at the Zenefits office in Downtown Tempe, Matthew was joined by:

  • Josh Thompson, Project Manager at Ware Malcomb
  • Aliesha Nichter, New Business Development
  • Read More

Arizona tourism generates record $21.2 billion in 2016

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In 2016, approximately 43 million people visited Arizona spending a record $21.2 billion in the state. The Phoenix MSA accounted for more than 65.5 percent, or $13.9 billion, of all spending in Arizona. With an estimated Gross Domestic Product of $9.2 billion, tourism is the number one export industry in the state.

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Four key trends that will shape the U.S. Skyline

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From New York to Chicago and here in Phoenix, creative companies have traditionally flocked to nonconventional, creative spaces located off the beaten bath. Not so much anymore, according to JLL’s newest Skyline Report. With the lack of creative space in unique and eclectic neighborhoods across the country, technology, advertising, media and information companies… Read More