addison: Speculative Construction is Back in Plano...despite area vacancy - 09/17/12 01:47 AM
Crains are popping up on the skyline of Plano again. And this time it's for construction of new office buildings instead of bridges.
There are currently 7 office buildings under construction in Plano totaling 959,591 square feet (SF). All of these buildings are in west Plano where we have seen rental rates rise dramatically in the last year. That is also the area where it is increasingly difficult to find large blocks of space available. Interestingly, it's also hard to find small space under 5,000 SF. 
Three of the buildings are build-to-suits for large users - Encana Oil & Gas, Tyler … (1 comments)

addison: Will Technology Replace Tenant Rep Brokers? - 08/29/12 02:34 AM
That's the basic question being asked in a Wall Street Journal article yesterday. It's an interesting idea and one that has been asked many times before. In fact, the question has been asked for virtually every industry in the last 200 years. 
I am a tenant rep in the Dallas area focused on Plano, Frisco, Richardson, Addison, and Far North Dallas. So it's important that you know that up front - full disclosure. I am a little biased.
Technology usually works best when applied to a series of repetitive tasks or the collection of data. It's great at increasing the speed at … (2 comments)

addison: Knowledge is POWER! - 08/15/12 01:01 AM
The more imbalanced the knowledge in a negotiation, the more the side with greater knowledge can take advantage of the other side.
So many times in life we try to do something ourselves because we're too cheap to pay an expert. That's why the floor tile is crooked in my bathroom and the faucet at the kitchen sink is loose. Sure I can do it, but can I do it well and without a lot of education and practice.
It's the same in business. What am I doing myself that I should be paying someone else to do? Website? Marketing? … (0 comments)

addison: Specialist or Generalist? What is Your Agent? - 08/13/12 06:24 AM
Several years ago I was talking to a friend in Austin and mentioned that I had sold my house in Dallas as a For Sale By Owner (FSBO).  He was surprised that it was possible to buy or sell a house without a residential real estate agent.  I was shocked that he didn't know he could trade real estate without a broker - however ill-advised that might be.
Brokers can only negotiate the sale or purchase of a house, right?  Aren't they all the same since they have access to the MLS?  Even though I've been in the commercial real estate … (1 comments)

addison: Tenant Rep Advantage - Information - 07/16/12 12:23 AM
One of the most important things that a tenant representative can provide is information. Unlike residential real estate which uses the MLS (multiple listing service), commercial real estate uses several databases including Costar, Xceligent, LoopNet, CityFeet, CommercialSource, and others. Some of these are best for finding space for lease while others are better when buying a property. Some are available only in certain cities. 
Knowing where to find information that is appropriate to a particular client's needs and then how to analyze that information is the real value of an experienced tenant representative or Corporate Real Estate Advisor. The information in … (0 comments)

addison: Help! I’m Running Out of Space - 07/09/12 11:46 AM
You’d be amazed at the number of commercial tenants that run out of space well before their lease term runs out. There are few things that are more chaotic to a business operation than having to work out of multiple locations because of poor planning. That’s why it’s vital that you plan for your growth before you start looking for space.
There are three keys to ensuring that you don’t run out of space before you run out of lease term.
The first key is to conduct a comprehensive needs analysis. And while this might seem obvious, the real question … (0 comments)

addison: Confessions of a Recovering Landlord - My UVP - 04/26/12 02:06 AM
The name of my blog has changed. It used to be called The REATA BizBlog because that name combined the name of my company with the fact that it's a blog about business. Makes sense. 
But then I was at a networking function a few months ago and I opened my introduction with "Hi my name is Bob and I'm a recovering landlord" clearly spoofing Alcoholics Anonymous. There was no intent to make fun of AA, of course. But it seemed to really spark a reaction in people. They seemed to chuckle and then pay more attention to what I said … (0 comments)

addison: What Causes Sales? - 12/02/11 03:22 AM
Yesterday, I attended a sales seminar put on by Chuck Bauer (www.chuckbauer.com).  Chuck is a nationally recognized sales trainer and coach who has worked with some of the largest financial institutions in the country. 
He asked the question, "What Causes Sales?" The audience threw out lots of suggestions, but no one got the answer he wanted. 
Qualified Appointments! 
That's what causes sales. Notice he didn't say "Appointments." He didn't say, "walking into an office to drop off a brochure for someone I think should be interested." He didn't say, "leaving messages." 
He said, "Qualified Appointments."
As you know, I am a … (0 comments)

addison: Voice Broadcasting - Is This a Good Idea? - 09/28/11 04:16 AM

Just a couple of months ago I told my wife that it would be great if a service were available which called a group of people and left them a voice message. If someone actually answered the phone, the call would hang up. This way you could leave a message to clients or prospects in bulk without having to actually call each one.

Well I just got an email this morning from Jim Gillespie who is a commercial real estate coach in which I found out that is now actually available. It called Voice Broadcasting. This could be a … (2 comments)

addison: Top Tips for Negotiating Commercial Leases - #12 Get a New Base Year on Renewal - 04/11/11 10:57 AM
Many companies renew their leases without engaging a professional tenant rep. Their logic is usually something like, "I know my landlord and trust him. We have been in the building for years so I don't see any reason to get a tenant rep involved and potentially get in the way of that good relationship. Besides, maybe the landlord will give me a better rental rate if he doesn't have to pay a commission."
That sounds logical, but in 27 years in the business I have never seen that actually work out to the tenant's advantage. Even in situations where the landlord … (0 comments)

addison: The Office Market will Turn Around - Now What? - 03/30/11 02:03 PM
I have been in the commercial real estate business for 27 years so I have seen a few cycles. One thing is certain, whatever things look like today, they will look totally different in a little while. So while landlords have been suffering in this economy, it has been great for tenants who are enjoying lower rental rates and free rent.
While no one knows exactly when things will change, there is general agreement that the tide will turn back to the landlord's favor within the 18 months. So what should a tenant do now? Well, if you are in a … (2 comments)

addison: Top Tips for Negotiating Commercial Leases - #6 Use a Proposal Comparison Spreadsheet - 02/14/11 05:03 AM
Using a proposal comparison spreadsheet has many benefits, but the most important one is that it helps to keep you focused on what really matters. When you get deep into the search for the right property and are negotiating with several landlords at the same time, it's pretty easy to overlook details. And sometimes the detail you overlook may be one which you said we really important when you started. With a comparison spreadsheet, you can list all the important criteria and then start filling it in as you get proposals. If something is missing, it's easy to see it.
Make each … (0 comments)

addison: Top Tips for Negotiating Commercial Leases - #3 Never Exercise Your Renewal Option - 01/27/11 09:37 AM
This may sound crazy, but exercising a renewal option is almost always a bad idea. The reason is that doing so may immediately obligate you to lease the space before you even know the rental rate. Exercising the option may trigger a series of events one of which is determining the rental rate, but you may be committed already. Not all renewal options work this way, but many do.
So what to do? The main thing is to start looking for options at least 3 months prior to the date by which your renewal option must be exercised (that's date is … (0 comments)

 
Bob Gibbons (REATA Commercial Realty, Inc.) Rainmaker large

Bob Gibbons

Plano, TX

More about me…

REATA Commercial Realty, Inc.

Address: 2108 Merksem Court, Plano, TX, 75025

Office: (972) 468-1946

Mobile: (972) 984-8580

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Anything and everything related to corporate real estate - a company's use of real estate. This is usually a company's lease or purchase of office, warehouse or retail space.


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