Ted Parcel
Scope of Service Experience Mr. Parcel has more than thirty years of varied commercial experience in the technical industries. Experienced with chemicals, pharmaceuticals, oil and gas, paper and agricultural markets and supplies to these markets. Former Corporate Real Estate Director, Profit Center Manager and Procurement Manager. Education MBA, Finance. University of Pennsylvania, Wharton School, Philadelphia, PA BS, Chemical Engineering, University of Delaware, Newark, DE Completed Strategic Marketing Management at the Harvard Business School. Background & Experience NAI Global, Princeton, NJ Senior Vice President, Corporate Services Responsible for the NAI Global Corporate Services function including Account Management and Transaction Management and the development of best practices. Key accounts include Alcoa, Air Products and Chemicals, Inc., International Paper, Hertz Corporation, The Pepsi Bottling Company and The United States Postal Service. Manages a staff of ten professions engaged in Business Development, Account Management and Transaction Management managing approximately 2000 simultaneous transactions. Air Products and Chemicals, Inc., Allentown, PA Director, Corporate Real Estate Accountable for all worldwide purchases, disposals, leases, development, feasibility studies and rights of way for a 15-person department of managers and specialists located in multiple states and on two continents. Responsible for the long term development plan for a 250 acre corporate campus with 2 Million square feet of office and laboratories plus an additional 250 acres of vacant land. Restructured an under performing department into a widely respected service provider responsible for the stewardship of a global real estate portfolio worth over $1 Billion. Business Area Manager Managed the profit and loss for a $150 Million commodity chemicals business with three marketing joint ventures. Implemented Sales and Operations Planning to integrate Sales, Marketing, Manufacturing, Procurement and Logistics into a high performance team. Captured $13 million in savings and avoided a $120 Million investment for a strategic business franchise by conceptualizing and implementing an innovative $5 Million project. Managed a settlement with six insurers for $ 21 Million through the NJ courts. Negotiated major raw material supply agreements totaling $30 Million annually. Created a $130 Million partnership by converting a key market supply customer into a 10-year sole source relationship. Professional Affiliations & Designations CoreNet Global Drug Chemicals and Allied Trades Association Author of several articles including The Location of Plastic Manufacturing and Fabrication Facilities, Real Estate Strategies in a World of Uncertainty, Surplus Asset Transfer Best Practices and Should Lease Renewals Be Outsourced. Significant Transactions Auctioned a portfolio of 20 properties across the US generating $20 million of cash flow for a Fortune 100 firm. Completed a Sale and Leaseback of a Corporate Headquarters for $45 million.
Posts by Ted Parcel
Space Planning and the Total Cost of Occupancy
Jul 28th
The number of occupants and the space required per occupant are the key determinates to total cost of occupancy. Consider that the occupancy costs are the multiplication of the rental rate per square foot plus the operating costs per square foot times the number of people and the space that each person occupies. There are factors that add to the total space consumption including lost space from hallways, bathrooms, elevator cores, storage areas, atriums and reception areas. This is often called the building loss factor and is an efficiency measure of the building. To these losses also add the space required for cafeterias, special computer and server rooms and conference, training areas and other special spaces. More >
How Gross is Your Lease?
Apr 29th
There are multiple ways to divide up the costs of leasing a property and of course every one of the alternatives is utilized somewhere. This discussion is about the most common types of arrangements for dividing up the expenses.
A typical property has components of rent, property taxes, insurance, maintenance, utilities and common area charges (CAM). So how does one divide the costs?
Single Net Lease- The tenant pays rent plus property taxes
Double Net Lease- The tenant pays rent, property taxes and insurance
Triple Net Lease- The tenant pays rent, insurance, and maintenance. (This is often confused with an absolute net lease.)
Absolute net lease- Tenant pays rent plus all expenses including insurance, maintenance, utilities and common area charges.
Modified Gross Lease- The tenant pays rent, CAM and utilities. The landlord pays the rest
Gross Lease- the tenant pays rent and the landlord pays the expenses
Full Service Lease- Tenant pays insurance, plus excess utilities actually used over a base amount and increases in expenses over a base year amount.
Why is it important to use a local broker?
Mar 18th
Commercial real estate increasingly is becoming global in terms of the property owners/investors and capital players, yet in many ways it remains a local business. Local supply and demand takes precedence over regional demand and local practices still dominate markets. Therefore, it is important to have local representation when participating in a real estate transaction.
Can’t a broker I trust from another market handle things for me?
You would probably not trust your foreign car to a local gas station because the standards and practices needed to complete the work require a special set of tools, unique understanding of the automotive asset and specialized training. Similarly, local agents understand the dynamics of the local market in a way that outside agents do not appreciate. Local agents typically have grown up in the market; they have made their career in the local market. They may have gone to high school with the mayor and/or the local planning and zoning leadership. As a result they have an in-depth understanding of the properties that are on the market, the reasons they have not sold, the concessions that made to complete other local transactions, concessions that other owners may accept and the properties that may become available under the right conditions.
Why then would you utilize less than a local expert for any local real estate transaction?
Power of Existing Relationships
Oct 22nd
There is power in existing relationships. The power results from the interaction and trust that builds as two parties work together to accomplish a common goal such as selling or leasing property. During the various phases of the interaction, the parties can view performance, attitude, work ethic, general ethics, critical thinking skills, organizational skills, commercial skills, drive, achievement of results, oral and written skills and a host of other components of performance. Successful results coupled with common attributes of performance lead to repeat business. More >
Fighting Off a Rental Rate Increase
Oct 12th
As the economy strengthens and vacancies begin to decline, landlords and owners will begin to try to recover some of the rental rate ground they lost during the recession. The recovery does not appear to be swift, but landlords will need some relief going forward or they will not be able to maintain the properties to the prior standard. More >
