renew: 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)

renew: 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)

renew: 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)

renew: 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)

renew: 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)

renew: 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)

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

Bob Gibbons

Plano, TX

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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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