If you have a Right of First Offer (“ROFO”) on certain space, then the landlord must offer to lease the ROFO space to you (when it becomes available) before it can be put “on the market” for lease. Most office leases structure ROFOs so that it is the landlord who makes the initial price offer,…
In a sign that expectations of a permanent work-from-home culture may be overstated, a fresh KPMG survey of top CEOs worldwide found a mere 17% plan to shrink their overall offices, an abrupt drop from the nearly 70% talking about it in August. The sharp drop in office plans for the next three years comes…
When Monster Moto opted to shift its assembly of minibikes and go-karts from China to Ruston, La., the company moved into a new 100,000-square-foot factory. After the move – which included 22 UPS semi-trailers packed with equipment, an inventory of spare parts and 5,000 finished bikes – UPS and Monster Moto sat down to figure…
We’re in the midst of the most significant reinvention of work in our time. We’ve proven people can work anywhere and the greatest social experiment—sending everyone home to do their work—has decimated barriers to working away from the office. Some contend people are working with a reasonable level of productivity from home. And this is…
Interesting study on Site Selection in 2020. No surprise that companies are leaving some of the largest, most expensive, and congested cities. Some of this is no doubt driven by the current pandemic, but that is a short-term driver. More likely that taxes and unfavorable legislation are bigger impetus of these strategic migrations. What is…
While the coronavirus outbreak is wreaking havoc on office demand, Raleigh, North Carolina, is outperforming most other markets throughout the nation. The Tar Heel State’s capital city ended the third quarter with average rents up about 4.6% year over year, one of the highest marks in the nation. Raleigh’s performance is nothing short of remarkable…
Top states ranked for the number of new projects starts for key US markets.
Facilities lessons from times of crisis: September 11 taught us about evacuation protocols and design/ safety criteria to aid exiting without confusion. Hurricane Katrina taught us the need for business contingency plans and the risk of single location strategies. Superstorm Sandy taught us the need to be able to work remotely in times of crisis.…
Leadership will improve. Throughout a crisis, leadership is of vital importance. It has also become clear which leadership behaviors are most effective. In the toughest times, the leaders who excel are those who communicate clearly, stay calm and strong, demonstrate empathy, think long-term and take appropriate decisive action. Corporate leaders will become more effective overall…
Top markets for growth and digital service jobs, some predictable and some surprises.