Tag Archives: office space

Mixed-use 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 project is the… Read More

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

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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 Street, a redeveloped… Read More

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

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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

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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 declining office vacancy.Read More

Phoenix office net absorption is outpacing new construction

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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 growth cycle. Strong… Read More

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

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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 expensive and Los… Read More

Nine Steps to Renew Office Culture with an Office Move

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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 potential, availability of… Read More

[SLIDESHOW] JLL’s Project & Development team transforms former mall into corporate office

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For office tenants able to think outside of the big box, Arizona’s lingering retail vacancies can equate to major opportunity. Such is the case with the recently completed renovation of the Tucson Galleria – a $16.4 million effort led by the Phoenix office of JLL that transformed a long-vacant retail mall into a cutting-edge Western region customer support center for Comcast Cable.

Located in Tucson, the 165,000-square-foot Comcast facility was originally built in the mid… Read More

Will Phoenix law firms start to move into creative space?

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CaptureAccording to JLL’s 2015 Law Firm Perspective, law firms across the U.S. are warming up to the idea of occupying creative office space. They are even locating outside of traditional CBD’s as rents continue to rise and the availability of quality Class A office space diminishes.

Are these national trends true to the Phoenix market? Somewhat.

In Phoenix, law… Read More

JLL’s Americas CEO discusses how technology is shaping CRE

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JohnGatesThe following is an excerpt from an article originally published on National Real Estate Investor.

There is no doubt that technology has transformed our culture in every way. From how we communicate to how we buy services and how, and where, we work. But lately, technology’s impact has hit closer to home, in our industry. Technological advances… Read More