Content related to ‘Office Space’
Smaller tenants looking for less than 5,000 square feet represent 80% of the office market, generally take the same amount of a rep’s time, but generate less revenue per deal than larger tenants. To make these tenants more attractive to tenant and landlord reps, Crelow has introduced three new services —Crebates™, Rep Matcher™, and Bid Requests™ — that will help smaller businesses find their perfect space. The services add to the capabilities of the Crelow Deal Board™, announced earlier this year, the first service in the commercial real estate industry that allows tenants to send out bid requests and have the market come to them. “Crelow has only been in business for about 10 months but we’re excited to introduce three new services we believe will revolutionize the way commercial real estate is done. All three of these new services are available right now in both of our current markets, Minneapolis/St. Paul and Denver,” Jim Simpson, Founder and CEO of Crelow, wrote in his blog. “Though much of what we do and how we do it has been enhanced with the release of these new services, the inspiration behind Crelow itself is unchanged,” he continued. “From the very first whiteboard session more than two years ago, Crelow has been designed from scratch with just one goal in mind: Put tenants in control and help them find the perfect fit in their next office.” Crebates™ Crelow’s new marketplace has changed the way bids are created with a product called the Crebate™. Commissions paid by landlords to tenant reps can add significant cost to a lease deal. Instead, the Crebate helps landlords submit more attractive bids with a flexible tenant cash incentive. This incentive, paid directly to the tenant after lease signing, is created from the commission savings they derive by dealing directly with tenants who have submitted Bid Requests without tenant representation. Rep Matcher™ Rep Matcher solves a problem for both tenant and rep. It gives reps access to prequalified tenants coming to them, and broadens the tenants’ opportunity to find a rep they feel comfortable with. Once they have filled out basic information about the size, style and move-in date of the office space they are seeking, the technology presents the tenant with a “gallery” of reps who specialize in what they are looking for and, with the click of a button, they can request an introduction. The Bid Requester™The Bid Requester™ web-app assists tenants in specifying the size, style, location, price and special requirements for office space that can help them attract and retain the right people. Bid requests are posted to… …Read More…
London, England. (Credit: Michael Blann) Rents for London skyscrapers have increased by more than 10% in 6 months, while Hong Kong skyscrapers remain the world’s most expensive place to rent an office in a tower, according to Global Cities : The 2016 Report published by Knight Frank. The report, which reflects the cost of renting office space in skyscrapers across key global cities, explains that London’s growth is partly due to a buoyant occupier market, which has seen vacancy rates reach the lowest level since 2001. “Occupier confidence has obviously played a major part in the increase in tower rents achieved across most of the major global cities,” commented William Beardmore-Gray, global head of office agency. “However, the main point of interest is that this confidence has coincided with occupiers being more prepared to compete for space that was traditionally outside their preferred locations. “London is a good example where these locational barriers are being broken down with oil, tech and private equity companies relocating across London from their more traditional West End locations,” he added. “When construction started on the latest wave of London towers a few years ago, it was to the backdrop of the Euro Crisis, and some commentators said the developers had got their timing wrong,” said James Roberts, head of commercial research at Knight Frank. “However, the doubters have been proved wrong, with skyscraper rents in London at a record high. In part, this reflects increasing appetite for exclusive space, now the austere business environment of the Global Financial Crisis is becoming a distant memory. Source: Knight Frank, Newmark Grubb Knight Frank, Sumitomo Mitsui Trust Research Institute Closely following London’s growth is San Francisco, which witnessed an increase of over 8 percent — considerably more than any other U.S. city — as the city continues to benefit from its ever-expanding tech sector. Hong Kong still tops the ranking with a prime rent of $255.50 per square foot, over $100 more expensive than New York which sits in second place with a rent of $153 per square foot. Hong Kong’s large lead in the index can be attributed to a variety of factors, such as the restricted geographic area of the city, which results in developers having to convert air into “land” and build up rather than out. “San Francisco is benefiting from ongoing expansion in the technology sector, and a growing preference for locating in the city over Silicon Valley,” said Roberts. “Hong Kong retains the title of ‘the world’s most expensive place to rent an… …Read More…
Office rents moving upward in more than 50% of the country.
Strong demand amid dwindling supply in London’s West End pushes rents up by 5%; London confirms its position as the world’s most expensive office market for the second consecutive year. Hong Kong ranks second after losing top spot to London last year for the first time since 2008; global office rents increase by 3% overall.
Furniter dealer OFM and Swingline, the makers of the iconic Red Swingline Stapler, have joined forces to launch the “Hands Off My Stapler Contest.”
When MSNBC workplace and career columnist Eve Tahmincioglu began her recent story on corporate layoffs resulting in “cubicle graveyards” full of unused office space, she looked to the International Facility Management Association for research to back up her claims.