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.
First, you tear down the walls and dispense with the soulless cubicles. Then you put everyone at long tables, shoulder to shoulder, so that they can talk more easily. Ditch any remaining private offices, which only enforce the idea that some people are better than others, and seat your most senior employees in the mix.…
A contraction option is a fixed right in your lease to reduce the size of your premises at some future date, but prior to your lease expiration date. You can use it to downsize an office space prior to the lease’s scheduled expiration date. As you might expect, landlords (and their lenders) vigorously resist giving…
Over the years we have found that operating expenses (OE) are among the most misunderstood real estate cost component, particularly because there is no clear standard of how these costs are addressed in leases. OE pass throughs can easily grow over a lease term to significant levels, particularly given the “compounding” nature of how they…