Rents aren’t the only thing on the rise, the increase of tenant improvement costs are also on the rise and they do effect new lease deals. I share a recent report that I received from a Bay Area construction company to pass along where full build out improvement costs are coming in at in three Bay Area regions. In addition to the costs of tenant improvements, I also point out how recent code changes are one of the areas contributing to the increases in tenant improvement costs. Click on this post to see the rest of the article and the Bay Area tenant improvement cost report.
Trying to save money for your company? Our latest macro forecast will give you an edge by shedding light on how things are shaping up for 2017 and into 2018. This article should be helpful to both Corporations and Investors/Users looking to make thoughtful and calculated real estate decisions over the next 12-18 months.
Cushman & Wakefield published the U.S. Macro Forecast this month with promising news. Many key factors in the overall health of our economy are pointing to U.S. GDP growth accelerating. As an intelligent tenant, I always recommend you meet with a broker at least 12-14 months prior to your lease expiration. In today’s climate you can expect to find fewer options available to you, rents that are higher than what you are currently paying and longer term requirements from landlords, 3-5 years at a minimum.
DTZ hosted our annual State of Real Estate event in San Francisco again this year. Chief Economist, Kevin Thorpe, shared his research, data and forecast for 2015 both nationally and for Northern California.
Throughout the end of last year, change has been in the works here at Cassidy Turley. In November 2014, we were purchased by a private equity firm who also acquired an internationally known tenant representation firm DTZ. With the merging of our two companies under the new private equity ownership, we will now be the third largest commercial real estate company in the world taking the name DTZ as our own. As an Intelligent Tenant, this will positively impact you…
For many of us, 2013 ended up closing with less than stellar results. Will 2014 be a better year? We share our perspective on why 2014 may be a better year for the commercial real estate market.
According to Kevin Thorpe, Cassidy Turley’s Chief Economist, office vacancy across the U.S. is “clearly tightening, but at a rate that is much slower than past recoveries. Steady job growth and lack of new development has vacancy falling in 70% of the country, but the office sector is still adjusting to the new era of tenant downsizing and space efficiency.” We anticipate tenant activity levels will pick up in 2014 over 2013 but like our economist notes, we have the trends of downsizing and space efficiency keeping our growth down to a moderate pace. This post covers some of the stats for 2013 for the Bay Area Commercial Real Estate market.