Hello from New York City. For the next several months, TheSquareFoot will be going through one of the premier accelerators in the country: Entrepreneurs Roundtable Accelerator. We will be spending time working on our business with some of the best and brightest (mentors and advisors) helping us along the way. Alumni from previous classes have grown into great business receiving funding from VC firms like ff Venture Capital, First Round Capital, 500 Startups, FirstMark Capital, and more.
I joined my first startup about 4 years ago, early in the life of that company. We had about 50 paying enterprise customers using the product and who willing and eager to share feedback to make the product better. While I was there, we were lucky enough to grow and continued to add customers to our subscription service. We grew enough to get our cash burn down to zero and eventually became profitable (20mph – 100mph). However, we faced many challenges along way. Some of which at the time made it seem like we were never going to make it through.
After reading all of the recent articles about the dominance of Apple stores and as avid Apple users ourselves, we decided to take a deeper drive into the numbers. Not only are most of the facts pretty mind boggling, we believe there is a trend emerging. In retail real estate, the anchor tenant is usually a big box retailer like Nordstorm or JC Penny, that gets a sweetheart lease rate and terms in order to attract traffic and smaller tenants. However, it is smaller Apple stores (many of which are under 6,000 square feet), that are becoming the attractive brand to attract traffic and tenants to retail real estate. It will be interesting to see if Apple is able to reduce its average price per square foot and how it might effect the big box retailers.
We had the pleasure of touring CultureMap's Houston office space, located on Wood Street in East Downtown. Given CultureMap's hip and trendy vibe, our expectations were high and the offices did not disappoint. With hardwood floors and the sun shining through the windows, the space has a happy, warm tone. The main area of the space includes a spacious open room for the writers to work and a large kitchen, where almost any meal could be prepared. In the back is the living room type set up with great artwork and great looking (and very comfortable!) furniture. We finished off the tour in CultureMap CEO Stephen Newman's office and saw why CultureMap is inspired by great design.
Since Trader Joe's just opened a new store in The Woodlands and is in the process of opening another store in Upper Kirby, it was an opportune time to see how big Trader Joe's really was. The Houston retail real estate Trader Joe's uses is 14,000 square feet on average, which is 40% bigger than their average store size (10,000 square feet) across the country. This is an interesting departure from the norm, since many feel Trader Joe's competitive advantage comes from its small store size.
For the next generation of workers, an office space is much more of a destination location than it was in the past. Businesses that hire Millennials have likely found that if they design an office lease that is conducive to collaboration, they are better able to attract and retain these younger workers.
If your company is preparing to move to a new office building, it’s prudent to keep in mind what you might want to do in terms of building out your office space. Landlords have different approaches toward how they will reimburse you for this kind of work. Expect your real estate broker to handle the negotiations with your landlord.
Are you starting a new company and in need of a place for your headquarters? Perhaps you have an established company that is starting to do very well and you want to move to a new and improved location. In such cases, you will want to consider looking for executive office suites in Houston to make a good impression.
Do you have a great idea for a new company? If so, you may be able to work from your home temporarily as you work out your business plan and figure out how many people you will initially employ, what kind of audience you are targeting with your goods or services, and what your supply chain or other logistical requirements will be. As you become more certain about your plans and the requirements to reach your goals, it will be time to get some Dallas office space.
As we approach the Hanukah home stretch (day 6, but who is counting), I penned a pastiche to "I had a little driedel" that speaks to what TheSquareFoot does for tenants who are looking for office space.
The Houston sublease office market realized growth in 2012 on the back of a strong local economy. Professionals looking to relocate, renew a lease or establish a new position in the Houston sublease office market should take the time to research recent developments and projects expected to initiate or complete in the near-term as well. Some of the first places to start looking in the area should be Houston’s most active Class A office submarkets:
Finding a startup office space in Dallas, TX can be difficult for new business owners that aren’t sure what exactly they are looking for. Whether it’s a low budget tech firm or a headquarters for a new local eatery, one of the best places to look for a startup office space is Dallas, TX.
Is your business in the market to rent Dallas office space?
So it's that time of year. Thanksgiving. It's one of my favorite holidays as it brings together two of my favorite things: food and more food (and my family). The other nice thing is that it always brings me back home to Houston, Texas when the weather is perfect this time of year (75 as I write this). I flee the colder climes where I have lived for the last 7 or so years in the artic tundras of DC and NYC.
The Houston branch of UHY Advisors has told us they are relocating from their office in Greenway Plaza to America Tower in February of 2013. The firm's new space is around 90,000 square feet and occupies floors 17 through 20.
Need an Executive Suite in Irving, TX ?
Everyone knows Houston's strong economy bucks the trend from the nation and Houston commercial real estate is no exception. Tenants and businesses in Houston are leasing commercial real estate at high levels. Some highlights from the info-graphic -
If you find yourself in charge of finding new Houston office rentals for your company, there are many things to consider. A lot is riding on your decision, with a whole workforce having to relocate; in the case of large relocations, employees may even be moving home and their families to follow you. The trouble to move is not something you want to go through in the near future, with work possibly being interrupted and the reaction your clients will have towards this. So below, we list four things to keep in mind when looking for new Houston office rentals.
Where is there Office Space in 77008 available in Houston?
What Houston Executive Suites in 77024 are available?
Office subleases in downtown Houston can be very difficult to find, but there are no shortage of them. Many companies lease large office spaces in Downtown Houston and end up with more space than they need.
Bellaire, Texas is a city with its own mayor and is located in the Southwest portion of Houston less than 10 miles away from Downtown Houston. It sits in Harris County and is part of the Houston MSA. Bellaire is adjacent to Meyerland and West University. Bellaire, is mainly residential, however there is Bellaire Texas office space along the U.S. 610 Loop.
As we are approaching flu season (TheSquareFoot friendly reminder...get your flu shots!), this infographic created by our friends over at Learnstuff talks about the germier side of our favorite topic...office space for rent. Take a gander at some interesting stats including "a typical desk has 400x more germs than the average toilet seat" and "men's work spaces are 20% dirtier than women's". And make sure to buy some hand sanitizer when you are at the drug store getting your flu shot!
Ridding an office of row upon row of cubicles - it's a challenge facing most business owners who have an aversion to traditional Houston office space.
The combination of Halloween and Christmas help make this time of the year fairly profitable for temporary retail space. In many cases, an ideal scenario would be for retailers to remain open only during the times when their sales are highest, and then close up shop when they aren't.
It is often said that unconventional thinkers - the dreamers, the creatives, the visionaries - have their heads in the clouds. A study published last year in The Journal of Psychology suggests that when it comes to freeing the mind and thinking creatively, having your head in the clouds (and in rooms with high ceilings) is best.
As regular readers of TheSquareFoot know, Houston's economic success is tied closely to the growth of the energy industry. In fact, that market's resilience during the recession is one of the primary reasons that Houston has been able to emerge from a national period of economic struggles far better than many other cities.
Large, sprawling commercial developments like The Galleria often rely on high-end department stores to function as anchor locations and draw consumers to the area. The developers of a new Galleria office space building set on Post Oak Boulevard, in the heart of Uptown Park, are going a slightly different route, opting instead to use high-quality restaurants to attract customers.
Back about one decade before the turn of the 20th century, Joseph F. Meyer purchased 6,000 acres of land on the southwest outskirts of Houston. At the time, the property cost Meyer about $5 per acre. Sixty years later, his descendants turned that investment into Meyerland Plaza, the third shopping center in the Houston area, following the Palms Center and the Gulfgate Mall.