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6 Reasons Businesses Love Rochester, MN

RealMassive By RealMassive
 
 
Rated as one of the top cities for doing business in the country by Inc. Magazine, Rochester is favored among both home-grown and national brands. In fact, according to Rochester Area Economic Development, Inc., Rochester and the surrounding communities have been recognized for their collaborative and innovative spirit —ranking number three in patent filings per capita and supporting entrepreneurial communities and start up ventures.

So what’s to love? Rochester is home to a strong labor pool, a highly educated workforce, and boasts access to over 45 two- and four-year higher education institutions. Big names like Mayo Clinic, Hormel, IBM, Red Wing Shoes, Federated Insurance, Fastenal and Seneca Foods are just a few of those who choose to do business here.

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The Tech Landscape Shifts in Phoenix

RealMassive By RealMassive
 
 
Is there life outside Silicon Valley? Absolutely.

The demand for office space in the nation’s technology hotspots –the Bay Area, and increasingly, Manhattan’s Silicon Alley -is driving rents in those markets to new heights. Average rents in San Francisco have nearly doubled in the last five years, and recently surpassed those in Manhattan. Both markets are commanding over $70 per square foot.

Phoenix

These head-spinning rents, as well as the intense competition for space in those markets, have lead many tech companies, particularly the young, to venture into new, more affordable secondary markets, like Nashville, Charlotte, Tampa, Seattle, and Phoenix.

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The Nation’s Top Marketplace – Austin’s CBD

Sullivan Johnston Guest Post by Sullivan Johnston, Research Coordinator at Avison Young Commercial Real Estate
 
 
As in quarters past, Austin’s CBD submarket continues to entice an array of office tenants, despite some reports illustrating downtrends in occupancy and rental rates. Austin’s favorable business environment has emerged as a worthwhile investment, with companies such as Kuka Robotics, Samsung, and Indeed relocating and expanding to the Central Texas metro, showing little obstinance to the high cost of occupancy.

avison-young-cbd-submarket-overview

Though Class A vacancy in the CBD increased from 4.74% in Q2 to 5.46% in Q3, demand remains unfettered with the CBD waging the highest rate of leasing activity for the quarter at 381,649 sf. The average Class A gross asking rate in the CBD for Q3 was $51.71, with some buildings commanding rates upward of $61. While the North/Domain and East submarkets may be at the mercy of potential downturns in the tech sector, the diverse office culture the CBD touts shields office use and thus, demand.

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Women Leaders in CRE & Tech: Part I with Diane Danielson

Analisa Goldblattby Analisa Goldblatt, Marketing Manager at RealMassive
 
 
As a woman in a historically male-led industry, I’m in constant pursuit of inspiration and growth opportunities. I’ve found that there is a wealth of resources and networks to help me build a career and ultimately become a leader in both real estate and tech. For my first in a series of “fireside chats” with established female leaders, I was honored to chat with Diane Danielson, COO of SVN Global. We originally connected with Diane to capture her insights on trends shaping the modern Retail #CREcosystem. Please feel free to share her amazing insights with your network and stay tuned for future spotlights.

What first attracted you to commercial real estate?

It was a combination of factors that attracted me to commercial real estate. First, I grew up in one of the premier planned communities, Columbia, MD. Designed by James Rouse in 1967, our community had carefully planned neighborhoods that were inclusive of all races, incomes, interests and religions. That was a living lesson in how real estate matters. Later on at Boston College Law School, I earned a place on the Environmental Law Review and further developed my interest in how we use land in a sustainable and sensible way. Commercial real estate tells the story of a community. It touches all we do and it changes as we change. It’s a key driver in our economy and I wanted to be involved.

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Why #CRE Should Pay Attention to NERDS

Evan Santosby Evan Santos, Partner Relations at RealMassive
 
 
2016 has been the year of NERDS. We’re not talking about “nerds” portrayed in movies with thick glasses and pocket protectors. We’re talking about the five office markets that you should be keeping an eye on for strong talent, affordability, and investment opportunity.

At the end of 2014, JLL presented five office markets in their current cycle as hotspots for growth. The markets include: Nashville, the East Bay, Raleigh, Denver and Salt Lake City and were coined “the NERDS.”

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Salt Lake City – A Hot Destination for #CRE Investment

Evan Santosby Evan Santos, Partner Relations at RealMassive
 
 
Commercial real estate sales nationwide hit $543 billion last year, which is not far below 2007’s all time peak of $573 billion. That mark may well be surpassed in 2016, as industry experts predict growth of nearly 7%. Geographically, deal volume was strongest in the secondary and tertiary markets according to data from Real Capital Analytics. These gains are an important sign of investor confidence in the commercial property market.

Utah has become a stand out in the commercial real estate investment world. The Salt Lake City market is a major contributor to that growth. In fact, Salt Lake City is #2 on America’s Next Boomtowns (Forbes, 2016). According to NG Acres, 2014-2015 was a historic year for investments in Salt Lake City and investments in 2016 have continued this pace.  

Commercial real estate investments in growing markets are a great place to preserve capital and look for yield moving forward. According to the Salt Lake Tribune, investors poured more than $1.8 billion into the acquisition of commercial properties in Utah in 2015, the third straight year that number climbed above its prior high. Much of that investment cash is coming from outside the state as national real-estate trusts, pension funds and other large portfolio managers seek to spread their bets and seek bargains outside larger, more expensive metro markets.

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Charlotte CRE Sales Near $1 Billion

“Jesse Tron By RealMassive
 
 
Commercial real estate sales nationwide hit $543 billion last year, which is not far below 2007’s all-time peak of $573 billion. That mark may well be surpassed in 2016, as industry experts predict growth of nearly 7%.

The Charlotte commercial market is a major contributor to that growth. According to data from Cushman and Wakefield, commercial sales have already surpassed $904 million so far this year.

The count includes sales of office buildings, retail centers, hotels, apartments, industrial buildings and warehouses of $2.5 million or more. With a number of deals in the pipeline, there’s a good chance that sales in the Charlotte area may exceed last year’s total of $2.4 billion.

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Old School or Obsolete?

Mark Daniel Guest Post by Jeremy Neuer, Senior Vice President at CBRE East Brunswick
 
 
First, thanks to the RealMassive team for inviting me to guest blog. The instructions were simple: write something interesting about the leasing process or technology. Hopefully this post delivers.

I was recently asked when the corporate real estate industry would fully embrace technology. This is a tough question! My initial answer was that tech would be fully integrated once the decisions were being made by 30-somethings instead of 50-somethings. But once I really thought about it, I realized that it would happen sooner.

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