corporate real estate: Construction Starts in (One of) My Favorite Parks! - 04/17/13 05:27 AM
One of my favorite office parks, Granite Park at the Tollway and Highway 121, broke ground on a new building. The Granite Park development team shared concept drawings for the upcoming 300,000 SF office building and adjacent conference hotel. Looks like a pretty stylish, modern place to do business. Granite Park IV is scheduled to be finished with construction in the mid-2014. I can’t wait to see what it looks like when it’s finished and possibly negotiate some leases for the building’s first tenants. Check out the Dallas Business Journal’s article and slideshow of the building designs here.  
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corporate real estate: 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)

corporate real estate: Is Your Corporate Real Estate Advisor Your Business Partner? And Only Yours? - 03/01/12 09:36 AM
Working with an exclusive tenant representative is the best way for commercial office tenants to be assured their company's mission is at the heart of a lease transaction. The best tenant representatives are more than just lease-to-lease brokers, they are ongoing real estate business advisors. But what happens if your exclusive tenant representative also provides landlord services or joins a full-service company? This business strategy introduces a number of serious consequences to your relationship. Namely, it raises a number of questions about how your long-term real estate strategy will be handled. Can your tenant representative assure you of business confidentiality with … (0 comments)

corporate real estate: Want the Best Deal - Shop Widely - 01/12/12 10:48 AM
This may sound trite, but it's true. If you don't look around for whatever product or service you need, you probably won't get the best deal. How likely is it that the first quote you get will be the best option?
Notice I didn't say the lowest cost. Low cost is not always the best choice.
This is particularly true when dealing with an incumbent. Your current landlord is an incumbent. The landlord knows that it's far easier for tenant to simply renew its lease than move. Moving costs are avoided. Production doesn't go down due to the disruption of a … (1 comments)

corporate real estate: Marketing 101 - Know Thy Ideal Referred Client - 01/05/12 01:47 PM
Most of my business comes from referrals. From past clients. From members of networking groups of which I'm a member. Occasionally, from other real estate agents - both commercial and residential.
Referrals are great. I rarely have to compete with other brokers for the business because the prospect already knows I'm qualified, competent and trusted. So I'm clearly a great fit for them.
But are they a great fit for me? Watson, we have a problem....maybe.
As a Corporate Real Estate Advisor or tenant representative, I represent companies which lease commercial space for their company use. My ideal client is a … (5 comments)

corporate real estate: 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)

corporate real estate: Private Sector Job Growth Continues in Texas - 11/21/11 04:06 AM
According to an article in the Dallas Business Journal on Friday (http://www.bizjournals.com/dallas/news/2011/11/18/texas-adds-13500-jobs-to-private.html?ana=handmark), Texas added another 13,500 jobs in October on top of the 200,000 already created in 2011 so far. That makes 18 months of job growth in Texas. That puts the unemployment rate at 8.4% - down from 8.5% just a month earlier. That's a bit better than the national average of 9%.
Does this feel real to you?
I am seeing a lot of small companies being created. Often this is from people who had previously been employed and have decided to start their own company now. It seems … (0 comments)

corporate real estate: Business Generation - Cold, Internet or Referral? - 10/10/11 01:35 PM
So what's the best way to get new business? By new, I mean new clients with whom you haven't worked before. 
In my business as a Corporate Real Estate Advisor (tenant rep), my ideal clients are companies which already lease office space in the Plano/Dallas area. Most of my competitors make tons of cold calls - especially agents new to the business. I haven't spent much time cold calling because it just seems to annoy people and reduce my chances of actually getting the business. Now it's entirely possible that I haven't done it enough to really test it properly.
Occassionally, I … (0 comments)

corporate real estate: Corporate Real Estate Services - Sometimes It's a Sale - 05/23/11 03:45 AM
I am a Corporate Real Estate Advisor. Most people use the term "tenant rep" which is short for "tenant representative" because it's shorter and easier. I'm fine with that because most companies want to lease space instead of buying it.
But Corporate Real Estate Advisor is a better term because we handle all real estate services that a company might need. This includes leasing new space and negotiating lease renewals as you would expect, but it also includes:
   1. subleasing space no longer needed,
   2. buying buildings for company use,
   3. selling buildings no longer needed,
   4. … (2 comments)

corporate real estate: 50,000 new jobs in Texas in the 4th quarter 2009 - 02/09/10 07:34 AM

It's good to live in Texas.  Those jobs create demand for office & warehouse space. And it will eventually change the balance of power in negotiating leases if it becomes a trend. So you might want to consider renegotiating your lease now before landlords start feeling confident of a recovery with jobs. We recommend that anyone with a lease expiring in the next 2 years evaluate their situation with their corporate real estate advisor (tenant rep) to decide when is the right time to take advantage of this depressed market.  Read the article here -http://dallas.bizjournals.com/dallas/stories/2010/02/08/daily4.html?ed=2010-02-08&ana=e_du_pub.  
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corporate real estate: DFW Office Leasing Still Strong Relative to US - 02/02/10 07:28 AM

DFW office leasing is doing much better than other US cities. But even within the DFW area, there are winner and loser submarkets. Northern suburbs like Plano and Frisco will always do better because they are close to where people want to live.  The key is to have this information when negotiating a new lease or renewal.  That is the kind of information that a corporate real estate advisor (tenant rep broker) follows and will use to effectively negotiate on behalf of companies.  
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corporate real estate: 2009 Office Demand Falls Sharply from 2008 - 01/13/10 09:32 AM
 
A report from Cushman & Wakefield reported that DFW office occupancy fell by 2 million square feet in 2009 and total leasing activity was down 43 percent.  Not surprising given the current economic situation, I know.
But like in most cities, there are winners and losers within the greater metropolitan area.  Buildings along LBJ Freeway and downtown Dallas were hit hard with lots of tenants moving elsewhere or just closing their doors.  The big winners were Plano and Frisco because those submarkets are close to where people live.
Quoted rental rates didn't change much though.  This seems odd when demand … (0 comments)

corporate real estate: Just published in 10-23-09 Dallas Business Journal. - 11/02/09 06:06 AM
The Dallas Business Journal published a commentary I wrote on the commercial real estate market.  The article discusses why residential real estate is a leading indicator of the economy while commercial real estate is a lagging indicator.  Here is a link to it - http://dallas.bizjournals.com/dallas/stories/2009/10/26/editorial1.html  Let me know your thoughts.
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corporate real estate: Who's the Customer Anyway? - 05/27/09 08:52 AM
Are we in a recession or not? Is this a tenant's market? The answer to both questions is obviously, "Yes." But you wouldn't know it sometimes by the way some landlords are acting. It's like they think it's still 1999.
I am a Tenant Rep or Corporate Real Estate Advisor so I spend my days talking to landlords on behalf of companies which need to lease office and warehouse buildings in the Dallas/Ft. Worth area. But I used to be a landlord agent. So I understand both sides of the table very well. The landlord and its leasing agents are suppose … (0 comments)

corporate real estate: Consider Your Rent as Advertising - 08/04/08 05:03 AM
The following is an article sent to me by a friend.  It was written by Roy H. Williams. the Wizard of Ads.  You can find him on the web at www.wizardofads.com.  This article clearly explains why "expensive rent is the cheapest advertising your money can buy."
"Follow the Sound of Bulldozersand the Smell of Fresh Paint
By Roy H. Williams
Commercially speaking, where are things happening in your town? Move to where the action is. Follow Best Buy, Home Depot, Starbucks and the other Big Boys who have already done the research. Nothing draws a crowd like a crowd. Media costs are escalating and the … (0 comments)

corporate real estate: Paying for Introductions - Beware of Licensing Laws - 07/17/08 07:38 AM
Today I was looking on a popular business networking site when I saw the following question posted:
“I will pay $35 for an appointment with a CEO, small biz owner, or investor interested in real estate purchases and investments.
We have a client willing to pay $35 per appointment with ANY large corporation in Arizona that is looking to buy land. If your contact ends up making a deal with our client, you will receive 35% of our client's commission or at least $2,000 as a success fee (along with that initial $35 for the contact information and introduction you provided). … (2 comments)

corporate real estate: Peak Oil - This Could Change Everything - 07/02/08 02:51 AM
I just finished reading an article by Jim Gillespie, a commercial real estate coach, in which he discusses peak oil and its impact on the commercial real estate business.   But first of all, what does Peak Oil mean? 
Jim describes it this way.  “When oil fields are new, and petroleum is beginning to be extracted from them, they continue to produce increased amounts of petroleum every year until the production from the field reaches its peak level. Then after this peak amount of production is achieved, the field will only be able to produce lesser and lesser amounts of petroleum … (2 comments)

corporate real estate: Hold Over - Costly, But Easy to Avoid - 06/26/08 03:53 AM
 
You signed a lease for an office for your company a few years ago, but it will expire in a couple of months. You really want to either move or at least do a market study to be sure that you get a fair deal if you stay and renew.  There is other vacant space in the building so you are sure your landlord won't mind if you stay a little longer than the expiration date.
Everything is working out until you receive a letter from your landlord a couple of weeks after the lease expired.  It says that … (2 comments)

corporate real estate: How to Market Commercial Properties for Lease - 06/19/08 04:02 AM
I recently saw an email from a guy in Knoxville, Tennessee asking about how to market an office building for lease which hadn't been built yet.  He had received a lot of advice about how he should canvass all the businesses in the area, mail flyers to the businesses, and generally waste his time in other creative and wasteful ways.
Here is the advice I gave him:
"Knoxville is probably like most other cities in America where 90% of new tenants in office buildings are represented by a corporate real estate advisor (tenant rep broker).  Therefore, it makes much more sense … (0 comments)

corporate real estate: Estoppel - Do You Need a Medicated Cream to Clear It Up? - 06/19/08 03:03 AM
 
Estoppel.  Sounds like a medical condition you don't want to talk about in polite company.  Or something you'd need a medicated cream to clear up.  Think of the embarrassment of checking out at the grocery store when the cashier gives you that knowing smirk.
But an estoppel is really nothing to fear or worry about.  It's actually just a document signed by a tenant at the request of a landlord which confirms the terms of the lease and that they are in effect with no default by either party. So it simply says that the lease is still in effect and … (1 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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