How Building Class Impacts Office Rents

Posted on: Wednesday, March 30th, 2016, under Guest Authors.

Bonnie Morata of HPI Guest Post by Bonnie Morata, Marketing Specialist at HPI Corporate Services
 

 
Office buildings vary from block to block, city to city and year to year with ever-changing technologies. For this reason, a commercial real estate classification structure exists to differentiate the quality of office properties and to guide the rental prices landlords can charge for their office rents. The three classifications are A, B and C.  Prospective tenants can use these classifications to quickly identify which properties meet their basic needs and if a given building is listed at a fair price.

According to Building Owners and Managers Association (BOMA) there are six primary factors that influence a property’s class. We like to break these factors into two categories—quantitative factors and qualitative factors.

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Marketing Lessons from #MarchMadness

Posted on: Thursday, March 17th, 2016, under Marketing, Uncategorized.

“Mike" by Mike Westgate, Vice President of Marketing at RealMassive

I grew up in a family of Spartan fanatics and attended Indiana University during the Bob Knight years, so to say college basketball is in my blood would be a massive understatement. IMHO, March is the best month of the year: SXSW, St. Patrick’s Day, and the NCAA Tournament all packed into four weeks of sheer glory. Aside from the sport itself, innovative branding and social marketing opportunities have cropped up in and around the tournament. Much the way the “Moneyball” concept revolutionized baseball, KenPom analysis (based on Dean Oliver’s Four Factors) and Adam Silver’s data science at FiveThirtyEight have modernized college basketball into a data-driven enterprise. It certainly calls into question the meaning and value of education for “student athletes”, but that’s an entirely different can of worms…

Access to sophisticated real-time data, the inherent social nature of game-time experiences, and the prevalence free online tournament pools make even the average hoops fan a relative expert come March. On the other side of the proverbial ball, college coaches have become incredibly effective through modern scouting technology and are even employing data scientists in-house. Sounds pretty similar to corporate America, doesn’t it? After all, you can barely go a single day without hearing a sports analogy: “what’s our game plan?”, “what plays do our competitors running?”, or “check the scoreboard”. Brands need competitive insights and there’s no shortage of big data, it’s just a matter of compiling and translating into business strategy. To continue with the sports analogy, I’ll roughly follow KenPom’s model which examines team and player efficiency scores to ultimately predict outcomes.

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Trends Shaping the Modern #CREcosystem

Posted on: Thursday, March 10th, 2016, under Thought Leadership.

Craig Hancockby Craig Hancock, CEO and Co-founder at RealMassive
 
 
The commercial real estate industry has reached an inflection point as traditional business practices succumb to market pressures that new technologies are creating. Despite negative rhetoric around lagging adoption rates in Commercial Real Estate (CRE), we see professionals discovering clever ways to leverage data transparency and real-time collaboration. Still, as business processes respond to the influx of new solutions, the basic building blocks of the industry remain intact.  Research, due diligence, and relationships are and will always be the bedrock of CRE. RealMassive’s strategy is predicated on innovating and collaborating with the industry, not disrupting it. We rely on the collective ingenuity of the market to inform our product roadmap, which is why I’m excited to jumpstart this particular initiative. We recently polled emerging and influential voices in the industry to collect their perspectives on the trends in data and technology that are enabling a new normal in CRE. This is the start of an ongoing conversation, and below you’ll find a sneak peek of what we learned…

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4 Tips to Reach Millennials in #CRE

Posted on: Wednesday, March 9th, 2016, under Marketing, Uncategorized.

Jenn Hoffmanby Jenn Hoffman, Partner Relations at RealMassive
 
 
There has been a lot of noise about millennials lately. How to hire, how to keep, how to market to them, what they like, what they don’t like. Ready or not, their influence as consumers and as employees is growing in power. According to Forbes, there are millions of millennials in America, and they represent about a fourth of the entire population, with $200 billion in annual buying power. So how are they, as consumers, affecting the estimated $15 trillion dollar commercial real estate (CRE) industry?  How can CRE make sure it’s not just reaching millennials but actually grabbing their (sometimes short) attention?

First, who are millennials? There are hundreds of definitions out there, but many have overlapping themes. A millennial is someone born between the 1980’s to the early 2000’s who grew up as technology began to explode and pervade daily life. This resulted in some defining characteristics of millennials as consumers. And to be fully candid, I am one.

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Innovation Trumps Litigation in Commercial Real Estate

Posted on: Wednesday, March 2nd, 2016, under Announcements, Thought Leadership, Uncategorized.

Craig Hancockby Craig Hancock, CEO and Co-founder at RealMassive
 
 
RealMassive’s lawsuit with CoStar is resolved, paving the way for our open data marketplace to deliver better exposure and more accurate data for Commercial Real Estate (CRE). It could have gone on for another 12 months, and truth be told I was looking forward to our day in court. CoStar’s allegations against RealMassive were excessive and meritless and intended to suppress innovation. They also brought suit against four of us personally with character attacks included, all completely unnecessary. Images were the focus, and a telephone call or DMCA takedown notice would have been customary and promptly complied with. The real issue goes far beyond image ownership when it comes to CRE data, as clearly conveyed by CoStar’s tactics toward us, their primary competitor. The future we’re creating for the industry puts the past in appropriate context, and we think CoStar just couldn’t believe someone figured out a better way. We have, and the game is changing.

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Avison Young’s Tenant Tips: 5 Lease Considerations for Start-Ups & New Businesses

Posted on: Wednesday, March 2nd, 2016, under Guest Authors.

“Jeff BodenmanGuest Post by Jeff Bodenman, Associate at Avison Young
 
 
When a startup or new business is looking for office space they should seek the most flexible terms possible. Even if these businesses have a growth plan for the foreseeable future, a single round of funding can completely change their business trajectory. Below are five lease tips to consider if you are a start-up looking for funding or a new business with an uncertain future.

1. Commencement Date

Commencement Date language should be properly drafted to clearly protect the Tenant from various potential pitfalls. If done properly, Tenants will avoid issues like paying double rent, holding over at current space, avoid long delays in construction, and generally avoid situations where the Tenant is paying rent on space it cannot occupy.

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