Metro Phoenix recorded 2.1 million total square feet of office absorption in 2017. This marks the fourth straight calendar year with at least 2.0 million square feet of positive absorption gains, the longest streak of its kind ever recorded in the Phoenix office market. The total also ranks Phoenix as the fourth highest market with absorption gains in the United States. Phoenix ranks behind… Read More
From San Francisco to New York and everywhere in between…
The tech industry continues to be the largest consumer of office space across the country.
And not just in the major tech hubs.
As all industries across the spectrum continue to innovate and incorporate new tech into their business models, owners and… Read More
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
Scottsdale (#3) and Tempe (#11) both ranked highly in an annual report on the Healthiest Cities in America.
Recognizing the correlation between fitness and nutrition, Tempe ranked 2nd in Healthy Restaurants per capita.
With almost year-round sunshine and plenty of hiking options, biking trails, golf courses and swimming pools, the Phoenix… Read More
Arizona State University (ASU) ranked 21st in the Milken Institute’s “University Technology Transfer and Commercialization Index.” The Index quantitatively measures how public and private universities capitalize on their research success by converting it for private-sector applications.
With an index score of 100, the University of Utah ranked first in the… Read More
Although Tempe is often considered one of the most popular office submarkets in the Valley, it is also a popular destination for small- to medium-sized industrial users who don’t fit into the big box industrial space in the Southwest Valley. Like the tech tenants that have flocked toward the centrally located city, a wave of nutraceutical companies have taken advantage of the Class A and B product that is often unavailable… Read More
- In a study conducted by WalletHub, the cities of Scottsdale (#15), Tempe (#48) and Chandler (#49) were all ranked as some of the best cities to start a career for young professionals. The cities also ranked highly in the quality of life category, ranking #1, #18 and #2, respectively.
- Moreover, several Arizona cities ranked highly for affordable housing, with Gilbert (#1) and Chandler (#4) … Read More
Central Business District encouraging tech migration with redevelopments
Despite having many of the live-work-play elements that attract tech companies and the millennials that often make up their workforce, the CBD has not attracted nearly as many of the tech companies that have propelled the economies of suburban submarkets in… Read More
Phoenix tech companies will soon have plenty of attractively priced, build-to-suit opportunities to choose from. The market currently has more than 3.9 million square feet of office space underdevelopment, which will likely include competitively priced build-to-suit opportunities and incentives.
In the shorter term, though, tech tenants must compete for space within top submarkets like the Southeast Valley and Scottsdale, where vacancy rates have tightened.
In the video below, JLL’s Senior Vice President Keith… Read More
Capital markets activity driving increased rents in Camelback Corridor
Currently at $31.90 on a full service basis, average asking rates across Class Aproperties in the Camelback Corridor submarket have increased 13.4 percent injust… Read More