rental rate: 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)

rental rate: 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)

rental rate: 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)

rental rate: Hey Landlords, Take Care of the Basics First - 12/05/11 03:42 AM
Creativity is nice, but from a tenant rep's perspective, I want the basics done right before anything else. First, make sure that you have good marketing collateral - property brochures and as-built floor plans on all vacant spaces. Make sure the as-builts are prepared by an architect and not just hand-drawn. But I’ll take hand-drawn over nothing. And be sure that the file size isn’t so big that it can’t be emailed.
Second, have the property data kept current on all the commercial listing services - Costar, Xceligent, LoopNet, etc. - and be sure all marketing collateral is attached to your … (1 comments)

rental rate: The Effects of a Bad Economy on Leasing - 10/24/11 10:31 AM
So the economy has been bad for 3 years now. What has been the impact on office leasing?
There are a few trends that have become apparent.
First, tenants are trading up to nicer space. When rental rates fall companies often move into higher class office buildings for close to the same price as they have been paying in lesser buildings. I have seen this occur in previous recessions as well.
Second, while they may be moving into nicer buildings, they aren't leasing excess space betting that their company will grow.
Third, when signing new leases most companies are using their … (0 comments)

rental rate: 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)

rental rate: 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)

rental rate: 25 Facts Every CEO Must Know About Social Media in 2011 - 01/24/11 08:02 AM
Sometimes it's not just about square feet, office leases, rental rates and what's going on in Plano and Frisco. Today it's about marketing in social media. Now I'm not an expert on that so I'm sending you to an article I just read from an expert who gives 25 Facts Every CEO Must Know About Social Media in 2011. In fact, that's the name of the article. Here is the link to the article. And here is the article.
“To tweet or not to tweet? Facebook or not to Facebook? Hire intern or hire agency? Train sales team or keep them … (2 comments)

rental rate: How to get the VERY BEST DEAL on your Next Office Lease - 01/14/11 03:06 AM
 
The blog post below offers some good advice on how to get the best deal on your office lease. The one thing he says that I don't totally agree with is that you get a better deal for a longer lease. While that's true if you are comparing a 1-year deal to a 5-year deal, I don't think the same can be said for a 3-year term versus a 7-year term. Most landlords in the Dallas, Texas area expect to see some rental increases throughout the lease term so the longer the term, the higher the rent may go. But … (2 comments)

rental rate: Top Tips for Negotiating Commercial Leases - #1 Start Early - 01/13/11 02:13 AM
 
      Start early.  Many companies wait too long before starting the process. Landlords know they don't have to be as competitive if you don't have time to shop around. Let's say you approach your landlord 2 months before your lease expires. He knows that you don't have time to go search the market for other options, negotiate with those landlords, get a lease signed, get construction finished, get an internet connection set up and move in that amount of time. 
       Fewer options - higher price. So guess what? Instead of offering you a competitive rental rate that … (2 comments)

rental rate: French Company Lands in Texas - 01/24/10 06:28 AM
 

One of our clients is a French software engineering company that just opened an office in Plano, Texas - a suburb of Dallas.  We negotiated a sublease for them and were able to get full use of all furniture, cubes, phones, computers, copiers and even the server room equipment, all while also getting a huge discount off the market rental rate for the building.  Take a look at the article at the following link - http://www.ccbusinesspress.com/display.php?id=3936.
 
 
(2 comments)

rental rate: 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)

 
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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