Trendsetters

MILESTONE FOR CAWLEY ARCHITECTS

Paul Devers and Sherman Cawley

Cawley Architects is celebrating a changing of the guard, elevating co-founder Paul Devers to president.

Devers will be responsible for the firm’s day-to-day architectural, administrative and corporate activities. Sherman Cawley, AIA, SIOR, founder of Cawley Architects, will continue to be actively involved, working primarily on marketing, sales and the firm’s transition plan. Cawley founded the firm in 1991 as a sole proprietor. Devers joined him as a corporate business partner in 2000. “During the past 20 years, we both have guided the firm to its present status as one of the premier architectural offices in the Valley,” Cawley says. “Over that time, Paul and I have grown the company from a small firm of only a few staff to today’s firm of 28 members and a very bright future.”

NAIOP Arizona earns major honor

The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, was named 2022 Large Chapter of the Year at the annual Chapter Merit Awards.

NAIOP Arizona also won an award for gaining the highest number of new members among the 52 chapters across the U.S. and Canada last year. NAIOP Arizona added more than 270 new members in 2021, a 13% increase. This advanced the Arizona Chapter to being fifth largest, up from seventh place, in the entire North America network.

“We are grateful to our many long-term and new members who are the backbone of this association,” says NAIOP Arizona President and CEO Suzanne Kinney. “Their active involvement and tireless volunteer efforts have enabled us to perform at exceptional levels across events, mentorship, education and legislative advocacy.”

Suzanne Kinney

Phoenix No. 2 in U.S. for tech office leasing

Phoenix ranks No. 2 in the nation for average annual growth rate in tech office leasing – a sector that is now the primary driver of the U.S. economic recovery, according to JLL’s latest research.

The sector has since made solid job gains with the largest technology companies leading the way. The top 25 technology companies by market capitalization added more than 600,000 workers from 2020 to 2021. Venture capital flows also reached record levels with $121 billion in funding nationwide from January through September 2021, and IPO activity achieved all-time highs during the same period.

Between 2010 and 2020, Phoenix experienced a 27% average annual growth rate in U.S. tech office leasing – second only to Raleigh-Durham, which achieved a 33% growth rate.