I Don’t Work for Free

June 30, 2010

The truth about leasing commissions One of the discussions many commercial real estate agents don’t like to have with their prospective clients revolves around the subject of fees or commissions. I have often seen brokers in an attempt to secure representatation agreements with tenants, that make the claim that their services are free. This is [...]

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Negotiating the Renewal Option

June 27, 2010

Most commercial office leases are long-term in nature, typically 5, 7 or 10 years in length, but also typically contain provisions for extending the lease beyond the initial term. A renewal clause in a real estate lease allows a tenant to decide whether or not to extend the lease once the initial lease term expires. [...]

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A Big GSA Lease in Houston

June 25, 2010

U.S. Attorney’s Office Relocating to Wells Fargo Plaza Those of in the commercial real estate industry read what seems like almost daily, a report of some significant General Services Administration (GSA) lease in the Washington D.C. metropolitan region. The GSA is the real estate arm of the federal government who has been a primary driver [...]

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Trends in Corporate Office Leasing

June 24, 2010

High Performance Buildings for High Performance Teams This video is from my Colliers International colleagues in Australia. The key elements to look for in a workplace to ensure a high performing team are outlined. These are global trends that not only apply to Australia but the United States and other markets throughout the world.

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12 Things to look for in a Tenant Repesentative

June 23, 2010

The logic behind tenant representation is that in order to reach an equitable solution to a particular need (leasing office space), the corporate tenant needs access to market information, transaction expertise and negotiation skills equal to that of the landlord who utilizes professional representation. All corporate tenants want a real estate advisor with the appropriate [...]

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Monthly Review of the Texas Economy — June 2010

June 22, 2010

Texas shows signs of exiting the recession and economic recovery The Real Estate Center at Texas A&M has released its June 2010 monthly review of the Texas economy. Highlights from the Report: After 16 months of job losses, the state’s annual employment growth rate turned positive and posted an annual employment growth rate of 0.2 [...]

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Financial Analysis as a Negotiation Tool

June 22, 2010

Net Effective Rents “Where the rubber meets the road” Effective negotiations for an office lease require a thorough understanding of the underlying economics of the transaction. Great deals are not only found, but also negotiated. There are several drivers that can impact the terms an office tenant and his broker can negotiate such as: The Tenant’s [...]

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Allowing Proper Time for the Office Leasing Process

June 21, 2010

Start Early: Plan, Evaluate and Execute Leasing office space can be a complex and time intensive process. One of the most common mistakes I see office tenants make is to begin the evaluation of their space requirements and market options to close to the date of their lease expiration. Whether you decide to renew your [...]

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Shedding Excess Space

June 19, 2010

The Challenges of Space Disposition The most recent recessionary cycle has left many companies with excess office space, under-utilized real estate assets and the need to minimize occupancy costs to improve financial performance. During challenging economic periods, real estate is often an area company’s look to trim operating costs. However, real estate by nature is a [...]

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Social Media CRE Poll

June 18, 2010

Today, I see an increasing number of commercial real estate professionals experimenting with social networking as a business tool. However, I think the jury is still very much out in the brokerage community in regard to Social Media’s value to the commercial real estate professional. What is your opinion? Your Turn Please expand in the [...]

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Time for Office Tenants to be Strategic

June 16, 2010

Market Conditions Create Tenant Power Play These are challenging times for office building owners. While several economic indicators suggest that a recovery is taking shape the weak employment data continues to delay recovery in the office sector, but it has also given corporate tenants substantial leverage in lease negotiations if they take the proper approach. [...]

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A Murky View for the Houston Office Market

June 16, 2010

The Impact of the B.P. Oil Disaster on the Houston Office Space Market Rewind back to the end of the first quarter of 2010 and there was renewed optimism for a quicker recovery than previously expected for the Houston office market. Despite news, that there was potential for significant job losses at Johnson Space Center [...]

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The Decline of the Office Cubicle

June 13, 2010

The Current Trend in Office Furniture: Encouraging Collaboration in the Workplace “One of the biggest trends in the office furniture industry today is the decline of the cubicle. The cubicle walls are coming down and their allowing employees to interact and collaborate”, according to Jenny-Lynn Georgiades, Director of Architectural and Design Support Services at Waldners Business Environments. [...]

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The New Corporate Lease Accounting Standards

June 11, 2010

FASB’s Pending Changes to Impact Corporate Real Estate The proposed changes to Generally Accepted Accounting Principles (“GAAP”), when accounting for real estate (and equipment) lease commitments, will significantly change recognition for leases that are now classified as operating leases and will impact corporate real estate beyond just changes to financial accounting procedures. The Corporate Real [...]

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Office Vacancies Declining, But…

June 9, 2010

Shedding Light on Shadow Office Space CoStar Group CEO, Andrew Florance discusses Shadow Office Space with CNBC My comment to this video is that while there is no doubt a significant amount of shadow office space inventory exists and the basic premise of the report is a real trend. However, I am curious about the [...]

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