How can you build a collaborative work environment in your company? Firms like Pixar and Google have demonstrated the power of a good work environment. Collaboration can bread success and it is worth spending some time to layout your office in a way that fosters it. This article takes a brief look at the topic and gives some insight on how to bring it out in your office setting.
Companies expect more from open-plan offices – more teamwork, productivity, and satisfaction. Do they get it? Read more in my post on the trends of moving toward and open-plan and shared spaces and how it mimics what corporations are doing with their office space. Is it a trend or the new standard, see what is involved in that decision…
Demand for office space surged in the fourth quarter of 2012 posting the strongest quarter of demand for office space since pre-recession 2007. The job numbers have been healthy for quite some time but it wasn’t till the fourth quarter did we see the demand play out. Given the fiscal cliff scenario, the fear of a relapse into recession may be behind us. Asking rents rose 1% when compared to Q4 2011. While this is still a tenant’s market, vacancy is eroding. We estimate that we still need to decrease another 200 bsp before landlords can really push rents. The national rent growth is being pushed by a hand full of West Coast, tech-driven markets as well as the New York City market. Furthermore, we are seing companies functioning on less space per employee. That number has declined from 225sf to 176sf per person in 2012. We estimate that this could fall to as little as 151sf per person by 2017.
Cassidy Turley’s Chief Economist Kevin Thorpe recently spoke on a company webcast. Mr. Thorpe covered Cassidy Turley’s perspective on the U.S. Economic & CRE Outlook. The presentation was titled, “A Big Fat Pause in the Recovery.” In this post, I summarize what was covered and provide a link for you to listen to the presentation.
Green leasing is becoming an increasingly popular concept – one that evokes images of buildings that use no energy, where every space has an operable window and solar powered robotic vacuums quietly recycle water bottles and compost leftover lunches. Although these buildings don’t exist yet, the idea that a “green” lease will somehow make it so is a common misconception. So what is a green lease? How can you tell? And perhaps most importantly, how much will it cost?
Accounting Standards – What’s The Latest? As a CEO or CFO, keeping an eye on the progress of the Global Accounting Standards topic will help you position your company and preserve its value. Specifically regarding your corporate real estate, an understanding of the discussion around the re-characterization of leases will benefit you in your leasing decisions. The changes being proposed primarily affect public companies but there will be a modified standard for smaller, non-public companies which is referred to as “Private-Company GAAP”.