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From the Rooftop, May 5, 2015 Edition

Blog

From the Rooftop, May 5, 2015 Edition

By: Steve Sadler, CEO, Allegiancy

May 05, 2015

Industry News

Instagram’s Role in Commercial Real Estate

SOURCE: THE WALL STREET JOURNAL

Instagram, which has become the preferred social-media tool for many New York residential real-estate brokers, is beginning to show up more in the commercial real-estate brokerage business as well.

Commercial firms and brokers remain much heavier users of Twitter and LinkedIn for such things as leads, contacts and recruiting. But the largest firms—including CBRE Group Inc., JLL and Cushman & Wakefield—increasingly are using photography-intensive Instagram for branding purposes.

CBRE, for example, relaunched its Instagram site last year, and today has more than 4,500 followers. Its recent offerings include photos of world capitals, employees, inspirational messages and historical shots of people like Edward S. Gordon, founder of the eponymous firm that eventually became absorbed into CBRE’s New York office.

JLL, which had been focusing on Twitter, LinkedIn and SlideShare, recently started experimenting with Instagram as a way of marketing listings, according to Paige Steers, a JLL spokeswoman…

READ THE COMPLETE ARTICLE HERE.

 

Commercial Property: Should You Own or Lease?

SOURCE: THE ORANGE COUNTY REGISTER

Commercial real estate comes in many varieties.

There are warehouses and manufacturing buildings, commonly known as industrial buildings. There are office buildings, which can be two-story walk-ups, high-rises, mid-rises or – if you add a bit of warehouse or manufacturing capacity – flex spaces.

Retail spaces are located in neighborhood shopping centers, malls, power centers or strips.

Institutional campuses such as colleges, hospitals and government buildings are also classified as commercial real estate. And don’t overlook hotels, resorts, and motels.

Whatever type of commercial property you occupy, a crucial question is whether to own or lease it.

Some classes of commercial real estate lend themselves more toward leasing. Few if any regional mall occupants own their space, for example, because the spaces are difficult to divide into smaller ownership interests…

READ THE COMPLETE ARTICLE HERE.

 

US Office Rent Rises at Fastest Clip in a Decade: Report

SOURCE: THE BUSINESS TIMES

Stepped-up business hiring pushed the rental price of US office space up 3.1 per cent in the first quarter, the highest quarterly gain in a decade, as demand for commercial real estate accelerated, according to Jones Lang LaSalle Inc.

Though occupancy growth in office space slowed to just over 6 million square feet from about double that pace throughout 2014, development activity and rental growth in particular sped up, JLL said in a report to be released on Wednesday.

The commercial real estate expansion is being driven by technology companies looking for the best office space in the central business districts of key US cities.

New York City, in particular the midtown area south of 34th Street, has the lowest vacancy rate across the United States and one of the highest growth rates in rental prices, said JLL, a global commercial real estate firm…

READ THE COMPLETE ARTICLE HERE.

 

Office Space Trends

 

Before Buying and Renovating an Older Office Space, Think Twice About the Neighborhood

SOURCE: FORBES

Looking for an office space is never easy, no matter where your business is located. Pittsburgh is home to some of the nation’s oldest communities, and I really wanted to give my company a sense of tradition with the move, so we did our best to scope out buildings in one of the city’s many historical districts. Looking back on it now, I’m not so sure I’d make that mistake again.

When we first began looking for an office, we intended to increase the resale value of the property. My father is a contractor, and he promised to help with any remodeling or restoration. We were sure that as long as we picked a good area, we’d be able to make our company more accessible to clients and increase the value of our assets. We were just about to enter a new stage of growth for our company, and it was an exciting first step. Unfortunately, our new office turned into a bigger headache than I would have ever thought possible.

We were quick to find a seemingly perfect location right in the heart of Pittsburgh’s Southside. While the space was in no doubt need of some extra TLC, the realtor told us that grants and special loans were available to refurbish the outside. However, the ink was barely dry on the contract when we found out that the funding period for those projects was over.

READ THE COMPLETE ARTICLE HERE.

 

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