Confessions of a Recovering Landlord

Granite Properties and Common Desk have teamed up to provide a new solution for post-Covid, return to work, offices. Hub-and-spoke model Lease main HQ in one of Granite's buildings Receive a G.O. Pass which allows employees to use any of Common Desk's 8 co-working locations Flexibility Landlord responsiveness Tenant survey Granite's Evolve platform - a broad collection of customer-centric office s...

1.  Going it alone 2.  Ignoring the neighborhood 3.  Betting on the future 4.  Not using an attorney 5.  Assuming that your employees want to come to the office 6.  Overlooking subleases Listen to Jan & Bob discuss each of these 6 things in detail.  Now, more than ever, is the time to NOT make a mistake in your next office lease.

Recently the Dallas Business Journal quoted a CBRE study which claimed vacancy rate, in DFW, at the end of 2020, was 23.4%.  Listen to Bob and Jan discuss if this is good, bad, or even accurate. 23.4% office vacancy rate after 4 quarters of negative absorption CBRE's numbers differ from what CoStar shows Markets hit hardest:  Far North Dallas (-1.44M SF); Las Colinas (-955K SF); and Dall...

In recently reading an article in the Harvard Business Review by Brian Kropp, I enjoyed learning what his 9 predictions for upcoming trends will be in the work force for 2021 and beyond. 1.  Employers will shift from managing the employee experience to much more. 2.  More companies will adopt positions on societal and political debates. 3.  Gender-wage gap to increase. 4.  Comp...

There have never been so many options available to companies for their office space. How do you decide among them and is your tenant rep able to advise you on all the options? The options are definitely plentiful. Before discussing the best solution, we recommend that companies consider broader issues like  corporate goals,  geography,  control, and  product type Are tenant rep...

The "Internet of Things" is abbreviated to LoT  Simpler compliance with social distancing protocols Improved productivity Healthier, more comfortable work environment A greener workplace with reduced operating costs Streamlined asset management and purchasing Alexa - play Confessions of a Recovering Landlord podcast

1.  Communication issues with partially-remote workforces 2.  Decision inclusion 3.  Optics 4.  Bob's take....loneliness Can these obstacles be overcome?  Absolutely.

Fiduciary Intermediary - Dual Agency Sharing an attorney Know who represents whom IABS - Information About Brokerage Services Intermediary, with assignments (still a bad idea) Special documentation Conflicts of interest Don't be unrepresented - on either side of the equation

Sublease space available now tops the 9 million square feet mark Available sublease space has increased by almost 50% since January, 2020 Subleases make up 15-20% of all space available in North Texas today Total available sublease space stands at 180 million square feet nationally Landlords just now getting aggressive against sublease negotiations Landlord blocking subleases Subleases, on average...

Property taxes are paid by the landlord but passed through to the tenant Operating expenses Tenant's prorata share Property tax division Taxes assessed Special assessments Improvement districts Property tax consultants Franchise taxes Sale of building in the middle of the tenant's lease term Protest tax value Controllable expenses cap Tax consultants

Sales/Mergers Assignment/Sublease Right of recapture Terminate Lease Increasing building value Negotiate Add conditions Force the landlord to be reasonable Selling stock of company Publicly traded firms Give notice early Indemnity Other tenants' rights Expect fees Consider future business goals

Timeline for moving Considerations of move impact Selecting movers, IT, architects, space planners, etc Budget and tracking expenses Giving notice to current landlord Get acquainted with new location Facilitating employees Planning press releases Certificates of Insurance Walkthroughs - old location & new

Evaluating lease proposals Excel spreadsheets Client goals & objectives Long/Short List RFPs versus LOIs Analysis Best metric Flat rate equivalent Building preference

Andy Jones, President, Jones Commercial Interiors is our guest today. Established in 1996, Jones Commercial Interiors is one of Dallas' fast growing and most innovative interior design firms.  JCI's specialty is custom design of tenant spaces including office, industrial and retail.   Growing the business, helping clients during COVID. Retro fitting office space for employee return. Inte...

Commercial real estate, in general,  slow to embrace technology 45% of all CRE employees are 55 or older Only 4% of all CRE employees are 19-24 E-Signatures CRM Databases CoStar REATA is technologically advanced! Come work with us! Looking to hire a Transaction Coordinator Call Jan at 972-677-0028 or email her at Jan@TexasTenantRep.com

Our guest on this episode is Steve Potts with the Potts Law Group ( www. PottsLawGroup.com ). Steve is an attorney and an expert on negotiating commercial leases from the tenant’s perspective. What is the number 1 thing people should do first when negotiating a lease? Why have an attorney in the first place? Once a tenant and their tenant rep negotiate the business terms, isn’t that the time when...

Is there increased demand for industrial space? How is demand affecting new construction? Why is DFW so attractive for industrial tenants? What’s creating the demand? Is the demand primarily from Jeff Bezos and Elon Musk? At REATA Commercial Realty, we exclusively serve companies that lease or purchase office and warehouse space. We never represent landlords. Find us at www. TexasTenantRep.com or...

1.  Conduct maintenance and updates to HVAC systems 2. Install ultraviolet lighting in bathrooms 3. Remove porous materials, such as carpeting 4. Add signs and visual reminders to promote social distancing and single-direction foot traffic 5. Eliminate communal food and drink offerings such as coffee machines and water coolers 6. Ramp up cleaning with janitorial and maintenance providers 7. P...

While rent and common area maintenance are the big obvious charges, there could be many other potential expenses that could surprise you. Rent increases Late fees & interest Operating expenses increases Capital improvements Insurance coverage Parking Remeasurement of the building Above-standard services TI costs above allowance Approval, consulting & attorney fees After-hours move-in Optio...

Why Commercial Leases are Getting Shorter? How does this impact building values for landlords? What does this mean for tenants? The article to which we refer in this episode can be found here . The Confessions of a Recovering Landlord podcast is brought to you by REATA Commercial Realty. We exclusively serve companies that lease or purchase office and warehouse buildings. We never represent landlo...

Brian Hutson of Assured Partners is our guest this week to talk all things insurance. Landlords require so much insurance in leases. Why and is that good or bad for tenants? Brian explains it all to us. It sounds boring, but Brian makes it very tangible and interesting. He's the only guy we know with a college degree in insurance. Commercial general liability insurance Auto liability Excess liabil...

No joke, the Dallas Morning News headline read: “Office Rents Are Headed Lower Because of the Pandemic” Key take-aways Bob & Jan discuss in this episode: · Only 2% of commercial real estate firm execs thought office rents would rise · 77% said they expect more lease concessions as landlords try to lure tenants · Office leasing in the 2nd quarter fell by 14 million SF in US · DFW was 2 million...

6 Amenities Tenants Will Want Post COVID-19 #1 - Strong Connectivity #2: Touch-less technology #3: Better ventilation systems #4: Safer materials #5: Traditional amenities with a safe spin #6: Smart cleaning technology Who’s gonna pay for all this? What will it take to get you back in your office? We'd love to hear your thoughts: · Are you currently working from home and is it temporary or permane...

Why you, the tenant, are NOT the landlord’s primary client…and who is. Who is the landlord’s secondary client and why. Who is the landlord’s third place client and why. How can tenants improve their leverage and influence with landlords to improve where they are in the pecking order? The good news is that users of office and warehouse properties are REATA’s FIRST, most important and ONLY client! A...

In 1597, Sir Francis Bacon is quoted as saying - “Knowledge is Power.” That’s as true today as it was when he said it and it’s our topic today on the Confessions of a Recovering Landlord podcast. Can you think of a single situation in which you’re better off when you know less than the person trying to sell you something? The landlord counts on the fact that you aren’t in the real estate business....