Category Archives: Economic Recovery

Be A Real (Estate) Wise Guy

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Why? What? How? – A 3-Part Series. Part 1: Figure out Why You Need Real Estate in the First Place Part 2: (Below): Address the What in the Real Estate Decisions Part 3: (Upcoming): Discuss How you will execute   ​“We just got the contract,” Keith said joyfully. He took a sharp breath in and lowered his voice. “We need, er, need enough space for 85 staff in 90 days,” he said with stress suddenly present. “That’s wonderful news, Keith and congratulations on that new business, I know you've been pursuing this deal for along time” I said. “We will get you taken [...]

Lets Get Real (Estate)

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My friend Justin Bedecarre of 42 Floors reached out to me recently with such a simple request. “Ashley, can you write a short little blog about how to lease office space?” his request read. Given that I’ve done this exercise a few times in my 18-year career, I thought it would be simple to write about how to lease office space. But when you actually think about the process of securing the company’s next lease, there is A LOT that goes into a significant real estate decision (and are there any insignificant ones)? Also, if you Google “leasing process” you’ll find some pretty dull [...]

Curb Your Enthusiasm

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"I learned that IHOP is not the place to order fish" - Larry David

Uh oh. I just read the latest Cushman & Wakefield US office market report and I think we got a little ahead of ourselves in calling the real estate depression of the last five years completely over. So, apparently, did landlords who are trying to float major increases in asking rents. I’m a positive guy, and I’m positive that landlords have unrealistic pricing expectations in some US markets as they attempt to score rate increases. The industry’s prognosticators (including yours truly) forecasted that a swing back to a landlord-favored market was under way.  After almost five years of beating on [...]

iCampus

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In an incredible announcement over the weekend, Apple has gone public with its plans to create a $304 million dollar campus for more than 3,600 people in Austin, Texas. This is on the heels of their $500 million dollar Cupertino, CA campus that is now under construction. Wow, hope they sell a gazillion iPad 3s. The Cupertino building famously looks like a space ship. It will be interesting to see if Austin gets in on the “space” program as well. (Has the Eagle landed in Austin?). Dan Whisenhunt, Apple’s Director of Real Estate and Facilities, must be the busiest real estate professional in [...]

A Face For Radio

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It was an honor and an all around neat experience to participate in Michael Bull’s Commercial Real Estate Radio show last week (link is at the bottom of this post). Michael assembled a panel of David Tennery, principal of Regent Partners, John Davidson, principal of   Parmenter Realty Partners, and yours truly. Ryan Severino, senior economist for REIS, dialed in by phone from New York. While my fellow panelists are all knowledgeable real estate thought-leaders, the clear consensus was that the entire panel had faces built for radio. The mechanics of radio broadcasting are fascinating. I’ve never been in a [...]

CFOs and Billy Joel

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In the early 80’s, I remember first hearing the haunting anthem to America’s manufacturing challenges in the song "Allentown" by Billy Joel.  In the ditty, Joel chronicles the demise of Bethlehem Steel (it went bankrupt in 2001 and is now a casino) and its impact on families in the Eastern Pennsylvania area around  Allentown.   The song represented the concern many Americans had over manufacturing’s demise in our country. Good men and women, through no fault of their own, were thrown out of work based on apparent labor savings in foreign cities they had never heard of. For nearly three decades, [...]

Ranch Dressing

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Ah, the economic malaise continues. This New York Times article (Fed Divisions Led to a Compromise on Interest Rates) starts with a pulse quickening statement: "No one knows what to do to fix the economy." With the certainty of uncertainty continuing to be a daily   media subject, interest rates are trending near all time lows. Yes, one day, Ethel, it will be ok. The cycle will turn and joblessness will no longer be the headline de jour. But with all the fun in the economy,  there's an unintended consequence of this "condition" we are in: bad real estate deals still have life [...]

Git-R-Done; Time To Move Those Deals Forward

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Disney's acclaimed Pixar unit recently released Cars 2 with “co-stars” race-car Lightning McQueen (voiced by Owen Wilson) and tow-truck Mater (voiced by Larry the Cable Guy). In the movie, the characters head to Europe and Japan to compete in the World Grand Prix, but of course get side tracked with all manner of problems, including international espionage. While the new movie is a hit, we like the original Cars movie better as it's seemingly innocent humor is classic and truly funny. Our favorite character, Mater, resembles an International Harvester mining "boom-truck" from the 1950’s. The vehicle that is the inspiration for his [...]

Shiny Happy People

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By Ken Ashley ATLANTA (May 7th, 2011) In a rousing opening session to the CoreNet Global Summit in Chicago's Navy   Pier, CEO Angela Cain and Chairman Lee Utke (Global Real Estate Head for Whirlpool) played the theme from the ‘80s sitcom The Jeffersons entitled “Movin on Up.” The ditty signaled real estate’s increasingly important role in Corporate America. And it certainly makes sense given the many millions in savings that real estate directors have delivered over the past several years. The Summit is held twice annually in the United States and is considered the confab for corporate real estate service providers, [...]

Shiny Happy People

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By Ken Ashley ATLANTA (May 7th, 2011) In a rousing opening session to the CoreNet Global Summit in Chicago’s Navy Pier, CEO Angela Cain and Chairman Lee Utke (Global Real Estate Head for Whirlpool) played the theme from the ‘80s sitcom The Jeffersons entitled “Movin on Up.” The ditty signaled real estate’s increasingly important role in Corporate America. And it certainly makes sense given the many millions in savings that real estate directors have delivered over the past several years. The Summit is held twice annually in the United States and is considered the confab for corporate real estate service providers, economic [...]