We hear it all the time. Prospective tenants are sometimes wary about using a tenant broker because they think A) there is a fee involved, B) the broker may not be a market expert and know the best options available, and C) landlords charge higher rent for tenant who use a tenant broker to sign a lease. TheSquareFoot has certainly addressed A and B ad nauseam, and we need to flush out C just so everyone is clear on how the system works.
After reading this article on leasing trends in commercial real estate, we began to think about what the metrics meant for tenants. Loopnet put together a very good info-graphic (below) on lease versus buy trends and I thought a few statistics were interesting from a prospective tenants viewpoint as they lease new or renew space for their business -
There have been a few stories that have come out recently saying that Starbucks will begin selling beer and wine at locations in several major US markets by the end of 2012. Starbucks began testing the concept in some of it's Seattle home based locations back in late 2011, and is planning on implementing the sale of beer and wine in cities like Atlanta, Chicago, and a few cities in Southern California soon. Word has it that they will start testing the concept in 4-6 locations in each of those markets and go from there. Seems as if Starbucks is attempting to become more of a true cafe, serving coffee, tea, beer, wine, to go along with pastries and Panini's. There are no immediate plans to expand the concept into any of the major Texas cities, but that could certainly change after seeing a positive response in some of the test markets.
After reading a recent article on the dark side of co-working, we thought we would chime in. It comes as no surprise that co-working is starting to see some backlash among small businesses and contractors. As a relatively new solution to traditional office space in the U.S., co-working has taken off like a wildfire. If you are on either the west coast or east coast and involved in commercial real estate or you are looking for real estate – you certainly have seen all the cool, open, innovative co-working solutions. It is starting to pick up everywhere else, but it seems the coasts have taken the lead.
A recent report notes that new contracts for the construction of commercial real estate in Dallas dropped last month from a year earlier, though the declines may have more to do with the flurry of local construction activity reported one year earlier.
A data services firm is relocating its headquarters from Las Vegas to Dallas, according to reports, underscoring the continued strength of the Dallas office space market.
For the first time since 2010, U.S. banks committed more in lending to commercial real estate projects than they did in the previous quarter, according to a national report. With improved access to financing, more businesses may have the financial backing needed to consider securing office space for rent in top metros such as Dallas, Houston or New York City.
A provider of e-commerce technology and solutions has announced its relocation to the Dallas suburb of Texas in a move that could introduce as many as 650 new jobs to the area, according to a press release.
Expansion is a welcome challenge for most businesses, and with it comes a variety of decisions. One of the most important may regard the business' physical location, and whether or not a company wants to buy or lease its new home.
For businesses considering retail space for rent in top metropolitan areas such as New York, Dallas, Austin or Houston, it has never been unusual to base this decision off of intangible factors, such as instinct or the general "feel" towards the property.
The latter six months of 2012 will provide greater opportunities for commercial real estate investors and property owners to profit from increasing demand and rising rents. However, for businesses seeking office space for rent in top metropolitan markets like New York and Dallas, it may be wise to begin considering options now, before vacancies become too tight.
A Carrollton-based company will expand to Dallas office space as the result of a major client contract that required the immediate implementation of roughly 500 workers, according to reports.
While more technology firms and financial businesses continue to search for office space for lease in Houston, Austin and Dallas, one national grocery chain has announced its intention to occupy space in another key Texas metropolitan area.
While they were traditionally a major concern for consumers and homeowners, bed bugs have become a persistent problem for businesses that own or lease commercial real estate in Dallas.
Changes in how leases are classified for accounting purposes may affect commercial real estate in Dallas and other major markets like Austin, New York, and Houston.
Tenants of Dallas office space received a scare earlier this week when a series of violent tornadoes swept through Northeast Texas, destroying homes, upsetting flight patterns out of Dallas/Fort Worth National Airport and sending tractor trailors into the air.
The current commercial real estate market appeals to buyers in major cities such as New York City, Dallas, Houston and Austin. However, experts say businesses conducting an office space search may soon increasingly find themselves leasing properties owned by foreign investors, who consider the market's current position ideal for investment.
Along with the other major office markets in Texas, Houston office space may be effected by urban areas leading population grown for the first time in 20 years.
The Shops at Park Lane in Dallas, Texas contains dozens of stores and restaurants in an outdoor mall setting, allowing shoppers to spend hours outside if they so desire. The shops sit on a 33.5 acre space, so there is always room for additional development. With this in mind, two Southern Methodist University graduates want to bring an American pastime - with a contemporary twist - to the area.
Another report on the commercial real estate picture in the United States points to the continuing demand for new office and warehouse spaces driving up office leasing activity in key markets around the country.
If cost were of no concern, most business owners would probably prefer to operate out of a new, state-of-the-art commercial space. As always, though, cost considerations must always be taken into account and Dallas office space is no exception to the rule.
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.