Tag Archives: office space

Labor shortage increases costs of Phoenix contractors, engineers and architects

0 CommentsBy

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

0 CommentsBy

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.

Click on chart to view larger.

 

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

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

0 CommentsBy

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

Mixed-use office construction is ramping up in Phoenix

0 CommentsBy

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

Downtown Phoenix gets new office inventory for the first time since 2010

0 CommentsBy
downtown Phoenix skyline

Downtown Phoenix skyline

The Downtown submarket saw 122,220 square feet of redeveloped office space delivered in the fourth quarter of 2016, marking the first time new inventory has been added to the submarket since 2010.

Situated in the fast-growing Warehouse District, 515 East Grant… Read More

JLL Phoenix team members enjoy cooler weather with a family day at the park

0 CommentsBy

For the third year in a row, our team members took time to enjoy life outside of the office with a family day. Held at the McCormick-Stillman Railroad Park in Scottsdale, employees were encouraged to bring spouses, kids and pets for a day of food and fun activities including a bouncy house, face painter and train rides. Click through the slideshow below to view photos of the entertaining day.

Read More

Phoenix office vacancy reaches 8-year low

0 CommentsBy

Total vacancy in Metro Phoenix decreased to 19.7 percent in the third quarter of 2016, down 240 basis points from one year prior and down 840 basis points from the recessionary peak of 28.1 percent set in 2011. This marks the first time since the recession that the vacancy rate has been under 20 percent, signaling continued improvement in the Phoenix office market.

Bar chart of decliningRead More

Phoenix office net absorption is outpacing new construction

0 CommentsBy

cow_phoenix_sept-26-2016_v2cropped

Since 2011, more than 9.7 million square feet of office space has been absorbed, outpacing nearly 6.0 million square feet of new deliveries. Overall vacancy is expected to decline in 2017 as employers expand and relocate to the Valley.

Phoenix is experiencing a much more diverse recovery during this economic… Read More

Phoenix is one of the most affordable office markets in the West

0 CommentsBy

COW_Phoenix_Q2 2016 asking rent_August 29 2016-Cropped

Phoenix is home to one of the most affordable office markets in the West, behind only Salt Lake City and Sacramento, with an asking rent of $23.94 full service gross in the second quarter of 2016.

Asking rent in San Francisco is 205 percent more… Read More

Nine Steps to Renew Office Culture with an Office Move

0 CommentsBy
Office relocation

Office relocation

So you’ve made the decision to make an office move. It’s an exciting time, filled with opportunities to reinvent, reset and renew. At the same time, the site selection process can be overwhelming. There are several factors at play, including neighborhood, space size, layout… Read More