The Retail #CREcosystem

Posted on: Wednesday, September 28th, 2016, under Thought Leadership, Uncategorized.

“Jesse Tron By RealMassive
 
 
The commercial real estate industry (CRE) is experiencing one of the most profound economic, social, and cultural transformations in history. Globalization, rapid urbanization, shifting demographics, and technological advances are ushering in unprecedented change and today’s landscape looks dramatically different than it did even one decade ago. CRE professionals are tasked with finding new ways to adapt to this fluid and on-demand business landscape. In order to remain relevant and competitive in the digital era, the industry as a whole must operate dynamically and iterate rapidly.

To continue the conversation we ignited with our original industry whitepaper, The New #CREcosystem, we partnered with CRE executive and digital leader Julie Augustyn of Foundry Commercial to produce The Retail #CREcosystem. This report particularly focuses on Retail CRE and explores exciting predictions of what the future could bring. You will hear from industry professionals on the the following areas.

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Lot Full – Downtown Austin’s Parking Shortage

Posted on: Wednesday, September 28th, 2016, under Guest Authors, Uncategorized.

Ted Rohan Guest Post by Ted Rohan, Associate at Avison Young Commercial Real Estate
 
 
As Austin’s downtown office market has grown by 1.2 million square feet since 2010, the parking supply has not been able to keep up with the needs of the city’s office tenants. While the new developments downtown have added to the city’s parking supply, office space trends focused on efficiency and increased density have made it difficult for companies to find enough parking for their employees.

The average parking ratio for downtown Austin’s office buildings is currently 2.53 spaces per 1,000 square feet, while prices range from $110 to $255 per month for unreserved garage spaces. The average cost of a parking space downtown this year is approximately $142 per month. As a result, many downtown companies are being forced to find alternative ways to address these issues.

RetailMeNot, which employs nearly 400 people at their downtown headquarters, was faced with finding parking for their growing staff after expanding their office space earlier this year. Upon contacting the parking garages of nearby buildings, they quickly realized that finding one location to park their entire staff downtown would not be easy. Sabrina Rodriguez of RetailMeNot mentioned that “It was nearly impossible to find in this area.” Currently, half of the staff parks in the 301 Congress Avenue garage and the other half is spread out between two other garages within a two block radius of the office.  The company previously shuttled employees from the Austin American Statesman lot where they had contracted parking spaces.

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Driving Efficiency Through Staggering Atlanta Commutes

Posted on: Wednesday, September 21st, 2016, under Guest Authors, Uncategorized.

“Jesse Tron By Brad Dillman, CAIA FRM, MSc London School of Economics & Political Science
 
 
Like stoic passengers attempting to negotiate the horrific conditions of modern flight travel, denizens of Atlanta know that when it comes to auto traffic, “We are all in this together.” No, I don’t mean that drivers consistently demonstrate basic common sense and civility. I mean that there is an understanding that the burdens of the commute are something that we all carry more than we want to, regardless of our general lot in life. Though this is promptly forgotten once we are actually behind the wheel and the expletives fly, the traffic experience is an obligatory part of everyday conversation – the way people elsewhere might talk about the weather. 

Spoken or not, many Atlanta offices have flexible arrangements, made all the more feasible by the issuance of company laptops or the ability to login remotely. You might be able to stagger your schedule, being in the office 7:00 AM to 3:00 PM or 11:00 AM to 7:00 PM, or occasionally pull longer hours Monday through Thursday and then work remotely on Fridays. It stands to reason that these arrangements can boost productivity, via time and stress saved, and can serve to enlarge the pool of potential workers by making a given office site more accessible to otherwise time-distanced residential locations. A staggered schedule can minimize the impact of outlier events, like when an accident at peak hours turns an already arduous commute into an experience that compromises an entire day’s productivity, a loss which might then echo through the rest of the week or cascade through adjacent work streams. Commuting considerations are notable for a metro like Atlanta, which is undergoing a number of changes that will both add to and attempt to ameliorate traffic-related issues.

About ten miles northwest of downtown Atlanta is Cumberland. Centered around the intersections of the 285 perimeter highway and I-75, it’s the 5th largest office district in the metro area, and will be home to the new Atlanta Braves baseball stadium, Atlanta SunTrust Park, which is slated to open in the spring. To reduce congestion some $2 Billion in public infrastructure investments are either planned or underway. Planned improvements to the area include pedestrian bridges, an expanded bus service known as the Cumberland Circulator, and a mixed-use lifestyle development called The Battery Atlanta, which is anchored by the stadium.

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5 Clues You Need New Office Space

Posted on: Thursday, September 1st, 2016, under Guest Authors, Uncategorized.

Mark Daniel Guest Post by Mike Kushner, President at Omni Realty Group

It can be difficult to recognize the signs that your business needs a new office space. Maybe it’s the fear of change or the discomfort of moving all files, equipment, and employees to a new location. Whatever the hesitation, the consequences of not moving to a better functioning space can be far worse than the temporary inconvenience of relocating.

Take a look at these five clues that you might need new office space and think about how they relate to your own work environment.

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