“It’s who you know, not what you know” has always been the law of the jungle in commercial real estate, but following this old cliché verbatim might just leave you by yourself…knowing nothing except for how to leave flyers in an office parking lot and hoping to stuff the property owner’s windshield.
Office Employment Growth Has Not Translated into Robust Leasing and Rent Growth: Here’s Why
Much has been written over the last few years on the very slow rate of rent growth in the office market. A simple glance at historic trends shows that office rents grew at a much faster rate at this stage of the market recovery in the past. One reason why this is so is the overhang of excess supply from the last recession and the slow rate of net absorption relative to job growth. But another reason may have to do with which industries contributed the most to the office recovery and whether the shift in office growth patterns affected leasing activity and rent growth.
10 Commercial Real Estate Trends That Will Dominate 2016
The coming year will see the blooming of CREtech, a cultural shift to sustainability and the advent of CRE as a fourth asset class. These long lasting commercial real estate trends will change the way we live, work and most importantly, the way we interact socially. The “Open Concept” office trend is certainly not a new one, but 2016 will take office lifestyle amenities to a whole new level.
Capturing Utilization and Activity Data in the Workplace
“What’s our utilization rate?” If you work in corporate real estate, you’ve likely asked or been asked this question. While utilization is an important metric to inform how frequently a space is used, it’s important to consider another key piece of data for strategic planning: activity data.
Towards the Corporate Placemaker in 2016
I have been studying and thinking about this concept of the Corporate Placemaker for some time now. I trace it back to our work on Raising The Bar, a global study for the RICS which, after more than 140 years of history, seemed to coincide with their awakening to the importance of Facilities Management (FM). But, take a look at the link path, and it is Home/Property/FacilitiesManagement. So, FM is still a subset of property (real estate, or ‘real property’). But, is it?
What’s Happening Inside US Office Space
Smaller, fewer office spaces no longer means a cramped stifling environment as a new age of design emerges, with shared creative workplaces designed for impromptu brainstorming. This in addition to Google-inspired amenities geared for stress relief as well as employee retention.
10 LARGEST OFFICE PROJECTS EXPECTED TO DELIVER IN 2016
From all sides of the country, these new complexes give a whole new meaning to the term "office space." With the help of our pals at Reis, Bisnow put together this list of the 10 biggest office complexes set to open for business in 2016.
Agile working is increasingly popular way to reduce London office costs
Rent, rates and service charges for office space in established Greater London office locations such as Croydon, Brentford and Uxbridge are typically over 50 percent lower than the cost of equivalent space in Central London locations such as Victoria, Marylebone, St Paul’s, Liverpool Street and Canary Wharf, Carter Jonas’ latest research claims. Increases in rents and business rates costs over the last five years, and the erosion of the stock of office buildings in some areas of Central London, as a consequence of redevelopment to higher value residential uses is reducing tenant choice and these factors are leading some occupiers to adopt new strategies to reduce their property footprint. Agile working and hot-desking are becoming popular ways to reduce the amount of space required to accommodate an organisation’s business operations the Tenant Advisory and Research Teams at Carter Jonas have found.
Boardroom now more likely to view offices as strategic asset, claims report
A new research paper claims to reveal changes in the way that UK companies now perceive and evaluate their commercial property portfolios – both as a physical workplace and as a strategic asset that can help them to meet corporate goals.
The Most Beautiful Tech Office Of The Year
Place Viger in Montreal symbolized an age of glamorous travel and cosmopolitan ambition. Constructed in 1898, the train station was done up like a French chateau. But time wasn't kind to the building and over the decades, it fell into disrepair (thanks, Great Depression). Today it's the site of a $250-million mixed-use redevelopment project that seeks to revive the abandoned structure. Lightspeed, a point-of-sale software company, is one of the newest tenants and it enlisted local firm ACDF Architecture to overhaul three floors within Place Viger for its global headquarters. The concept mixes punchy graphics, whimsical features, and an historic framework to forge a minimalist office that feels sophisticated, not overwrought.
The World According to WeWork
Developers and investors are quietly rushing in, spending millions to get in on the city’s next real estate frontier.
Top U.S. CBDs See Steady Office Market Gains In Third Quarter, Despite Economic Slowdown
Colliers International Group Inc. released the 2015 Q3 U.S. Office Market Outlook which concludes that the market remains strong and is steadily growing regardless of uneven economic growth. Factors influencing the economy in Q3 included firms cutting back on their production to shrink bloated inventories, while the strength of the dollar reduced exports. Colliers views these factors as largely temporary drags on our economy, and early signs point to renewed strength heading into 2016.
Cost Versus Value in Corporate Real Estate
As more companies move from dedicated seating environments to free address or mobile arrangements, questions about space utilization and cost can quickly become a greater focus. But cost alone should not overshadow the value that the right space can provide occupants. Over the years Gensler has used a variety of technologies, methodologies, and analysis methods to inform real estate and workplace strategies from both a cost and value perspective. Along the way, we’ve developed best practices and guidelines for data capture and analysis that have been applied to workplaces around the world. Gensler recently presented on this topic at the IFMA World Workplace Conference in Denver, Colorado and will be sharing it as part of a three part blog series.
How the ‘Tech Effect’ is driving change in real estate
Great minds don’t always think alike. In the tech sector the emphasis is on innovation and pushing boundaries – and the minds that do this increasingly want buildings which offer more – both in their work and home lives.
Building and Real Estate Companies Join Call for Action on Climate Change
As Paris readies for the COP21 International Climate talks, more than 50 building and real estate companies, including Thornton Tomasetti, Skanska and JLL, announced today that they have signed on to the Building and Real Estate Climate Declaration, a business call to action that urges policymakers to seize the economic opportunity of tackling climate change.
How Homes and Commercial Spaces Are Becoming Part of the Sharing Economy
Splacer is a event-space sharing service that provides a curated list of homes, offices, and galleries to provide a look into some of New York's prime urban real estate.
Office market shrugs off financial market and global economic volatility
The office market showed resilience in Q3 2015, registering absorption above the post-recession quarterly average, a declining vacancy rate and quickening rent growth. In spite of volatile financial markets and concerns over global growth prospects, office-using employment recorded its largest quarterly gain in 15 years, supporting sustained demand for office space. Most of the downtown and suburban markets tracked by CBRE Research posted positive Q3 2015 and year-to-date absorption.
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Record construction of London office space, but supply shortfall remains
Demand for office space in London continues to overwhelm its availability and in spite of record levels of construction, according to two new reports. The latest CBRE Monthly Index claims that rents in Central London’s booming office market grew by 10.3 percent in the year to October 2015, the first time annual growth has hit double digits since April 2008.