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3 Reasons Every Commercial Property Should Have a Strong Online Presence

Bob Samiiby Bob Samii, Founder and CEO at SharpLaunch
 
Are you taking advantage of the most powerful resource in your commercial real estate marketing arsenal?

The digital presence of each one of your properties has become critical to help attract and convert potential tenants and investors and we know that at least 80% are already starting their search online.

Just how much has online search grown in CRE? Since 2008, the number of searches has increased 60% and today, nearly 60% of people surveyed perform their own research, even if working with a broker.

There are several ways to build a digital presence that you “own” and can leverage to build your brand online. This includes CRE Tech tools that allow you to take the development process into your own hands and cost effectively manage your property’s online presence.

You can also tap into the expertise and resources of a specialized agency for branding and web development.

Whichever direction you take, there are three important reasons your property needs to have a strong web presence, and a lot of specific benefits you’ll gain by building one.

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Posted by rm_marketing

Massachusetts’ Big Pharma Cluster and Its Impact on Commercial Real Estate

Bob Samiiby Liz Berthelette, Director of Research NAI Hunneman. Liz is a seasoned CRE researcher with a penchant for maps, graphs & data; providing insights on the local Boston market and beyond.
 

Massachusetts, anchored by Cambridge, is home to one of the largest biotech clusters in the world. With many of the leading “big pharma” firms maintaining a presence here, this industry has become a key driver of commercial real estate demand throughout the Bay State. In fact, 16 out of the top 20 pharmaceutical companies investing heavily in research and development operations lease and/or own space in Massachusetts. In looking at the potential future demand for office and/or lab space these heavy investors will likely play a key role, especially if their current presence in the marketplace is minimal.

The chart below highlights each firms’ research and development investment dollars in the fiscal year 2015-16 and its estimated real estate footprint in Massachusetts. Novartis ranked first in the European Commission’s 2016 EU Industrial R&D Investment Scoreboard and occupies more than one million square feet in Greater Boston. Due to its MA-based headquarters operations, Biogen boasts one of the largest footprints in the market despite ranking among the bottom of this list for investment dollars.

Pharma R&D
*Occupied by Roche subsidiary, Iquum.
Sources: EU Scoreboard 2016 (World 2500), Costar, NAI Hunneman Research

There are a handful of firms that made the list that have little to no real estate presence in Massachusetts such as Roche, Eli Lilly, Johnson & Johnson and Bayer. With that said, many are planning to expand in Cambridge or are already collaborating locally:

• Reportedly, Eli Lilly and Johnson & Johnson have fairly large requirements out in the Cambridge market.
• Novo Nordisk has been collaborating with MIT on next generation drug delivery devices since 2015.
• Bayer is opening its East Coast Innovation Center in Cambridge.
• Boehringer Ingelheim’s venture capital arm opened in Cambridge in 2013 in order to invest in early-stage biotech companies.

One of the area’s largest pharmaceutical companies, Shire PLC, has continued to expand and currently occupies more than two million square feet in Greater Boston. However, the Lexington-based firm only invested $872 million in research and development last year; ranking the company 30th on the list. With that said, Shire recently agreed to lease 343,000 square feet at the Genzyme Center building in the heart of Kendall Square; establishing a hub for the research and development of rare diseases. This new innovation hub will house roughly 1,000 workers by 2019 ― after Genzyme relocates to its new headquarters nearby. One would expect Shire’s investment dollars to increase once this new R&D facility is operational.

Looking at revenues as opposed to R&D investment in the chart below, 14 out of the top 20 global pharmaceutical companies maintain a real estate presence in Massachusetts. Interestingly Johnson & Johnson, Bayer and Roche top this list as well. Other major pharmaceutical firms lacking a Massachusetts address include Sinopharm Holdings, Medipal Holdings and Alfresa Holdings. Could one of these companies be the next to set up shop here?

Pharma Revenue
*Occupied by Roche subsidiary, Iquum.
Sources: EU Scoreboard 2016 (World 2500), Costar, NAI Hunneman Research

While growth from companies currently located in Massachusetts will remain an important driver of commercial real estate, firms not-yet established here likely offer greater potential for future demand.

Posted by Jonathan Ho

Greater Boston Property Markets Start Year on a Positive Note

Bob Samiiby Liza Berthelette
 
Positive absorption was seen across all property types in Greater Boston. Metrowide office absorption totaled more than 300,000 square feet with the suburbs leading the charge. The lab market, particularly Kendall Square, remains as-tight-as ever. And fundamentals continue to improve in the industrial market as vacancies have reached new lows.
The New Year has brought continued uncertainty in the marketplace. However, many signs are still pointing to a stronger macroeconomic outlook in the near term. In January, the International Monetary Fund revised its U.S. growth forecast up slightly for both 2017 and 2018. A more solid economic outlook would likely bolster the commercial real estate property markets. There are still several trends worth keeping an eye on in the coming quarters that could result in up or downside risks to Boston’s outlook. Proposed budget cuts to NIH funding and concerns surrounding inflation are two to watch.

Below are some highlights from NAI Hunneman’s Q1 2017 market reports:

The Greater Boston lab market remains hot. Net absorption totaled 219,492 square feet metrowide in the first quarter, with the Cambridge markets accounting for roughly half of this space. Metrowide vacancies are nearing 3% and East Cambridge vacancies are just a mere 0.2% as demand for space remains heated. With little new product on the immediate horizon and strong demand for space, look for market conditions to remain favorable in the coming quarters.

The Greater Boston office market posted another positive quarter with more than 300,000 square feet in net absorption. Results were mixed with East Cambridge, Route 128 West and the Back Bay posting some of the strongest absorption. Metrowide vacancies inched down to 11.2% in the first quarter and direct asking rents grew to nearly $33 per square foot.

The Greater Boston industrial market absorbed more than 500,000 square feet of space in the first quarter of 2017. Vacancies are sub-8%; reaching levels not seen in more than 15 years. Demand drivers remain vast and varied. E-commerce, housing and building-related firms, drug manufacturing, third-party logistics, breweries and medical marijuana facilities are all bolstering industrial demand in the marketplace.

Access our Office & Industrial Report

Access our Biotech Report

Posted by Jonathan Ho

4 Ways to Get to Know Salt Lake City

Salt Lake City may not be as high profile as Los Angeles or New York City, but it has plenty of exciting things to offer both residents and visitors. Bordered by the buoyant waters of the Great Salt Lake and the snow-capped peaks of the Wasatch Mountain Range, Salt Lake City has charm and character worthy of high note. Here are four ways to get to know Salt Lake City and all it has to offer.

Salt Lake City Skyline

Skiing and Snowboarding

Salt Lake City is a top destination in the U.S. for skiing, snowboarding and other winter activities. To truly get to know the city, you’ll want to venture out into the depths of the snow to get a feel for the area. In fact, there are seven world-class ski resorts just minutes away from Salt Lake City. U.S. News ranked Salt Lake City as the third best ski destination in the United States in 2016.

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Female Leaders in CRE & Tech: Part III with Natalie Wainwright

Analisa Goldblattby Analisa Goldblatt, Marketing Manager at RealMassive
 
 
During a recent trip to Las Vegas, Nevada, I had the amazing opportunity to meet Natalie Wainwright, an exclusive Tenant Representative with Cushman & Wakefield Commerce. As a successful, passionate professional and President-Elect of CREW’s Las Vegas chapter, Natalie has a wealth of insight to share regarding women in the workforce and pursuing a career that makes you excited to wake up on Monday morning. It was an honor to include Natalie in this series – please freely share this piece with your network!

March-2017-Las-Vegas-CREW-Luncheon

Natalie Wainwright, Kathy Blond, Linda Day Harrison, Analisa Goldblatt at CREW Las Vegas March Luncheon

What first attracted you to commercial real estate?

I’ll never forget, I was a Broker Assistant here at Cushman & Wakefield Commerce and my now partner, Dan Palmeri, was driving me around the valley in an attempt to familiarize me with our market. As we were driving, my brain was bursting from the level of knowledge he had and the intricacies of each and every office building. He looked over at a building he had just fully leased and said, “It makes you look at your city differently, no longer can I drive around and just mindlessly cruise. I now look at my client’s signage on their buildings, and get to point them out to my daughter and tell her I leased that building. I feel like I am helping out my city in a little way that’s all mine.”

It was then that I had a vision of being able to drive past a beautiful class-A office building, turn down the music and tell my own kids, “Hey guys, that’s mom’s client.” Four years later I am able to do just that, nearly every time we are in the car. I love the process of relocating an out-of-state client into our market, showing the various opportunities, and then assisting them in their new lease or purchase. Commercial real estate doesn’t have the emotion of residential, yet it still packs a powerful punch. Commercial has a long-standing effect on the community though hiring employees, bringing a needed service to the area, and over time becoming a partner to the community.

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Posted by rm_marketing

The New #CREcosystem: What’s Next

“Jesse Tron By RealMassive
 
 
Consistent with RealMassive’s mission to connect every person and place in the global commercial real estate marketplace, we strive to match the industry’s technology acceleration with engaging and informative social content. Leveraging the popularity of CRE’s first influencer-focused predictions report (The New #CREcosystem), we are collaborating with #CRETech partner and fellow Austin-based firm REthink CRE to release a sequel edition which includes fresh topics and new participants.

Below you’ll find a preview of compelling insights and predictions for 2017 and beyond, direct from the professionals and leaders shaping our modern #CREcosystem through their use of emerging technology, digital marketing, and predictive analytics.

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Posted by rm_marketing

Women Leaders in CRE & Tech: Part II with Barbi Reuter

Analisa Goldblattby Analisa Goldblatt, Marketing Manager at RealMassive
 

Welcome to Part II of Women in CRE and Tech, where we spotlight commercial real estate professionals who are blazing trails for female leaders. My personal goal for the series was to connect with inspirational individuals and unearth growth opportunities for women in predominantly-male industries such as CRE and tech. For this “chapter,” I was honored to chat with Barbi Reuter who was recently named President of Tucson’s Cushman & Wakefield | PICOR office. A longtime friend of the firm and fearless leader in our industry, Barbi was a key contributor to RealMassive’s 2016 “The New #CREcosystem” predictions report. Enjoy her answers below and feel free to share with your social networks to accelerate female leadership initiatives.

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Posted by rm_marketing

Warehouses for Rent in Charleston (and How to Find Them)

Mike Ferrer Guest Post by Mike Ferrer, Managing Broker of Rock Creek Real Estate Advisors, LLC
 
Mike Ferrer and Rock Creek Real Estate Advisors, LLC

If you don’t know where to begin, finding a warehouse for rent in Charleston can be a daunting task. Negotiating deals, determining terms, and signing a lease can be overwhelming if you don’t have a commercial real estate agent to help you nail down a space.

Learning how to find a warehouse for rent in Charleston and hiring the right commercial real estate agent for the job can help get your business up and running in a quicker amount of time.

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Posted by rm_marketing

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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Posted by rm_marketing

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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