office: Class A Office Occupancy at Highest Level since 2006 - 05/22/14 03:36 AM
Life has been hard for landlords in Dallas for a while. Occupancy rates for Class A office buildings just exceeded what they were in 2006. Cause for celebration? That depends on whether they were happy with the occupancy rate in 2006, right? Well, it's now 83.4% according to an analysis by PM Realty Group (PMRG). So 2006 wasn't so great after all.
That's the sad reality of being a landlord in Dallas. Occupancy rates rarely get above 85%. In fact, according to Costar, since 1982 there has only been one period from 1998 - 2001 when overall occupancy in Dallas/Ft. Worth … (0 comments)

office: Office Leasing Booms in Third Quarter - 09/27/12 08:13 AM
According to the latest stats from Cushman & Wakefield as reported by D Real Points, net absorption of office space n the DFW area for the third quarter alone is a positive 2 million square feet. That's incredible. Net absorption is the net change in occupied space.
If the total occupied space goes from 300 million square feet to 302 million square feet, that would represent 2 million square feet of positive absorption. This is the best indication of market demand for office space.
Overall leasing activity (total leases signed) was over 10 miilion square feet, but much of that was renewals … (0 comments)

office: Back to Costar - 09/14/12 02:35 AM
Costar is a commercial real estate information platform to which i just subscribed again. It is by far the largest and most accurate database out there. They list every office, industrial and retail building available for lease in the Dallas Fort Worth area plus tons of other markets throughout the country. They list hundreds of thousands of properties for sale throughout the country. They verify this data with their own researchers instead of just relying on the listing brokers to keep things accurate (that will never happen). They list tenant information and sales comps.
But all that information and power comes … (2 comments)

office: The Emerging Workplace - 08/27/12 04:40 AM
Last week I attended a presentation on The Emerging Workplace. It was a presentation by Miller Office Interiors, Access Business Centers and Interprise Design.
It was interesting to hear how the workplace is changing largely due to technology and the preferred work environment of younger workers. Office layouts are getting more open and collaborative. An open space with gathering areas stimulates greater creativity than putting everyone in separate offices and cubes where they can’t see or talk to each other.
Open space is more inviting and attractive to workers who are used to spending a lot of their time in … (0 comments)

office: 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)

office: 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)

office: Total Class Solutions - Client Profile & Testimonial - 05/29/12 01:24 AM
Total Class Solutions is a national class action administrator that specializes predominantly in construction defect issues, although we are currently expanding to other issues during 2012. It is often thought of as an insurance company-related business. It is not. It’s handling class actions and working specifically with both defendant and plaintiff attorneys who are settling or about to settle cases.
The management team of Total Class Solutions has been handling class actions for over 15 years, and has handled over a billion-dollar settlement. We have experience second to none.
We were referred to Reata by the landlord when we were looking … (0 comments)

office: 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)

office: Dallas Ft. Worth Still Creating Jobs & Attracting In-migration - 04/16/12 01:06 AM
I recently heard Steve Brown, real estate reporter for the Dallas Morning News, speak at Collin County Day. He had some interesting statistics that I thought I should share.
1. DFW created 63,700 jobs in the last 12 months. An additional 100,000 jobs are forecast for the next 12 months. These jobs are heavily concentrated in the major cities, of course.
2. Texas continues to be a favorite destination for people relocating within the United States. Here is the largest contributing states: California (68,909 people), Louisiana (31,149), Florida (26,608), Oklahoma and Illinois (no numbers for these last two). I believe these … (6 comments)

office: Marc Hoppers discusses REATA Service - 02/24/12 08:27 AM
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office: 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)

office: 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)

office: What's Your Real Estate Agent's Specialty? Should You Care? - 11/18/11 03:14 AM
Several years ago I was talking to a friend and mentioned that I had sold my house 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 real estate business for over 27 years … (1 comments)

office: What Do You Think of LinkedIn? - 11/17/11 06:37 AM
People are constantly talking about Facebook, Twitter and YouTube. But what about LinkedIn? That's where business is supposed to be done, right? While I want to keep up with my friends, I really want to drive more sales. So why isn't LinkedIn more popular and talked about? 
I ran across an article from BusinessInsider.com through a link on LinkedIn of all places called How Linkedin's Lousy Sex Appeal Could End Up Killing It. You can read the whole article here: http://www.businessinsider.com/heres-the-no1-problem-at-linkedin-right-now-lousy-sex-appeal-2011-11.
So what do you think about LinkedIn?
Do you use it to prospect for new business or keep up with client … (46 comments)

office: 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)

office: Professionals instead of Parasites....Please! - 10/03/11 11:22 AM
A strange thing happened to me today. But first a little background. 
I received a call on Friday from a woman starting a new business. She had been working with an agent at a reputable company, but she wasn't confident that the agent was experienced enough to negotiate the lease document itself. She spent a long time on the phone with me asking questions and getting advice which I was happy to give. 
But then she asked me if I would review the lease document for her for an hourly fee. That I could not do, of course. I told her … (34 comments)

office: 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)

office: Broker and Salesperson Education Requirements Increasing - 09/12/11 04:01 AM
"Once I have mine, I want to make it more difficult for others to get theirs." That seems to be the mantra of most professional licensees and holders of professional designations. It makes sense. Those who have put in the effort and education to earn a license or designation want to increase the prestige of that by making it more difficult for others to achieve. This has the added benefit of making it more exclusive. 
The Texas Real Estate Commission  (TREC) has passed new regulations which do just this. In a press release dated September 9, 2011, TREC will require two … (3 comments)

office: Your Commute and Office Location - 06/12/11 03:39 PM
Friday afternoon was frustrating. I sat in traffic and wondered why I chose that route. I had been sitting there for 30 minutes and had only gone maybe 4 miles 5 miles. I was returning to my office in Plano from a client tour in Uptown, but it got me to thinking about a company's office location in relation to commutes.
How does or should traffic factor into where companies office? It really should factor in a big way because the amount of time you spend a car is usually at the expense of work time or personal time - … (0 comments)

office: Top Tips for Negotiating Commercial Leases - #13 Subleases can Save a Bundle - 05/19/11 09:09 AM
Want to save a bundle on your next office lease? Try to find a sublease. Subleases are often priced 20-50% below what the landlord is charging for direct leases. So a building charging $20.00 may have subleases in the range of $10.00 to $16.00. The closer you get to the expiration date of the sublease, the lower the price goes. 
Other factors affecting the rental rate will include how long the space has been on the market and whether furniture and equipment are available for the subtenant. Many subleases have furniture, phone systems, equipment, and maybe even art and plants in … (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

Email Me

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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