office space: The Good, The Kinda Bad and the Growth in Dallas
- 01/15/13 12:59 AM
Dallas has enjoyed steady job growth and didn’t suffer nearly as bad as much of the country during the economic downturn. Job growth means more demand for commercial space. If more businesses begin to grow and/or move to Dallas, what does that mean for those of us who are already here? Change and growth always bring bad with the good. But really, even the “bad” is pretty good.
The good news: more business in Dallas means more potential clients and more economic growth for everyone and Dallas will begin to skyrocket closer to the top of places to do business … (2 comments)
office space: Expand Your Business Without Leasing More Space
- 10/22/12 06:48 AM
Nearly everyone enjoys the success of an expanding business. More work, clients and employees allow your business to not only become more successful, but also make a greater impact on your field. But rent is expensive. It's usually the 2nd-highest expense for most companies. Wouldn't it be great is you could grow your business without taking on the financial burden of expanding office space? Well there are several simple and cost-effective alternatives to expanding which can be implemented within the perimeters of your existing office. Rearrange. It seems simple enough, but you’d be surprised how much more efficient … (1 comments)
office space: 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 space: 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)
office space: 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)
office space: Rates are Going Up
- 03/22/12 07:44 AM
While searching for office space in west Plano on behalf of a software development company, I noticed that rental rates have gone up considerably. Class A office buildings are now quoting rates in the upper half of the $20’s plus electric. My favorite office building is Granite Park III which is quoting a whopping $29.50 plus electric. Many others are in the $26.00 range. Most class B buildings are over $20.00 plus electric. So while the media is still sounding the alarm about how bad the economy is, landlords are quietly raising rental rates, reducing the amount of free rent … (1 comments)
office space: DFW Office Market on Fire - Okay, Relatively Speaking
- 02/15/12 10:58 AM
The DFW office market is getting really hot as reported by BISNOW's commercial real estate newsletter. In 2011, the DFW market absorbed 2.4 million square feet (SF) of office space. That's the highest since 2005 and triple 2010's absorption. The 2005 number was 3.4 million SF. Absorption is the best measure of demand for space. It is the net change in occupied space from one period to the next. For example, if 250 million SF were occupied on 12/31 and 253 million SF were occupied at 12/31 of the next year, there was 3 million SF of positive absorption that year. If less … (0 comments)
office space: Direct Mail - Contrarian Marketing?
- 02/07/12 02:23 AM
I am somewhat of contrarian. If everyone agrees on something, I'm usually the one to take the opposing view. If I'm talking to my politically right-wing family, for example, I tend to bait them with the obvious benefits of universal health care, legalization of drugs and illegal immigration. If I'm with a bunch of left-wingers, on the other hand, I've been known to advocate the death penalty, abolition of the entitlement programs which keep the poor in their place, and deregulation of business. It's healthy to have an opposing thought occasionally just to make sure you aren't falling into the trap … (4 comments)
office space: 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 space: How to Know You’ve Chosen the Wrong Tenant Rep?
- 11/28/11 04:23 AM
Here are 10 ways to know you picked the wrong tenant rep. While the size of the spaces you’re shown seem okay, none are laid out remotely close to what you need. When you ask if the suite can be remodeled, you’re told, “Sure, no problem.” Your broker sends you a 50 page computer print-out of every building in a 20 mile radius and asks you to point out which ones you'd like to see BEFORE meeting you or discussing your business. The broker is so familiar with the buildings you are seeing that the landlords actually let the broker put … (1 comments)
office space: 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)
office space: 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 space: Plan for the Unexpected - Tour Horror Story
- 07/08/11 11:29 AM
One of my corporate clients is growing quickly and plans to expand the office space they lease by about double. I had scheduled to show a sublease space in Richardson to him earlier this week. He had to cancel due to a client meeting of his own, but I told the agent listing the space that I'd still like to preview the space and take pictures to send to my client. He agreed and we met at the space which was not occupied. As the agent and I were walking to the space in the office building, I was telling a … (5 comments)
office space: Top Tips for Negotiating Commercial Leases - #4 Never Tell the Landlord You Prefer to Renew
- 02/03/11 10:21 AM
You always compromise your negotiating position if the other side knows you really want what they have. A friend of mine who is a landlord leasing agent told me that he was showing office space to a Fortune 100 company once in Dallas, Plano or Frisco - I can't remember which. When the company man got off the elevator and walked into the space he exclaimed, "this is perfect. I love it." Negotiations stopped right there. My friend knew he didn't have to make any further concessions. So make sure the landlord (leasing agent) knows you are checking the market … (0 comments)
office space: Concessions on Office Leases Aren't Consistent
- 02/17/10 08:42 AM
This article (http://www.globest.com/news/1600_1600/newyork/183576-1.html) is talking about the New York City office market, but you could just as easily substitute Dallas in place of New York. Yes, the market is bad for landlords. Yes, tenants have lots of choices and rents have fallen while concessions (free rent, etc.) have increased. But certain submarkets are doing pretty well. Certain buildings have pretty good occupancy. So in those cases, the deals don't look as good and tenants are left questioning why the landlord isn't more aggressive. So you should shop widely when looking for space. And if you really just want to renew where … (0 comments)
office space: What does this Economy Mean for the Corporate Tenant?
- 11/10/08 09:33 AM
Thank God I'm in Texas. Texas is certainly taking some hits while the economy in the US as a whole is suffering. It is certainly not hurting to the same extent. DFW is the 4th largest metro in the US, but it created 83,600 new jobs in 2007 (3rd in the nation) and 54,300 from September 2007 to September 2008 (2nd in the nation). Unemployment stood at 5.3% while the country as a whole was around 6.1%. These numbers may be adjusted later as often happens, but they show that it's a good time to be in Texas. Costar reported that … (0 comments)
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.
Dallas has enjoyed steady job growth and didn’t suffer nearly as bad as much of the country during the economic downturn. Job growth means more demand for commercial space. If more businesses begin to grow and/or move to Dallas, what does that mean for those of us who are already here? Change and growth always bring bad with the good. But really, even the “bad” is pretty good.
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