Category Archives: Office News & Trends

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

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

Phoenix has the third largest net office absorption in the U.S. through two quarters

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The Phoenix office market recorded some of the highest absorption gains in the country last year. Halfway through 2017, the market is still going strong. Phoenix ranked No. 3 for positive net absorption year-to-date, trailing behind only Seattle-Bellevue (2.8 m.s.f.) and Dallas (2.6 m.s.f.).

The 1.5 million square feet of… Read More

Where to Find Talent? Four Trends at the Core of any Successful Tech Ecosystem

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The escalating war for tech talent in major tech hubs is real. Unemployment in traditional tech hubs like Silicon Valley and San Francisco is historically low at a time when tech drives 24.2 percent of U.S. office leasing activity. While these hubs boast access to talent and a culture of innovation,… Read More

Mixed-use office construction is ramping up in Phoenix

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According to JLL’s Q2 Phoenix Office Insight Report, five new office projects totaling 638,090 square feet broke ground in the second quarter of 2017. One of the five projects is the Camelback Collective, the ±3.62 acre mixed-use project in the prominent Camelback Corridor which will consist of office space and a hotel. This… Read More

Phoenix ranked No. 3 “Fastest Growing Tech City”

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Phoenix saw an 188% increase in tech jobs from 2016 to 2017, ranking it third in the nation for tech job growth. Huntsville, AL, and Thousand Oaks, CA, took the top two spots with a 309% increase and 200% increase in tech jobs over the same time period.

The top… Read More