Posts tagged tenant representation
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it is expanding its coverage into Mumbai, India with the signing of Sure Shot Suggestions ( India ) Pvt. Ltd. The firm will now operate as NAI Sure Shot Suggestions.
NAI Global, the world’s premier global network of commercial real estate firms and one of the largest real estate services providers worldwide, today announced Jay B. Olshonsky has joined the NAI Global New York City team as Executive Vice President & Chief Operating Officer. More >
By George Livingston and Christie Alexander
According to current economic indicators–and most economists–U.S. business and industry will likely show measurable signs of improvement in 2011. That means the window is narrowing on the opportunity for industrial firms to recognize significantly improved revenue from their leased facilities.
That may seem counter-intuitive at first. But the current economic cycle is rife with opportunity for successful enterprises with positive credit history. Your landlord is loath to admit it, but the fact is, your More >
For the first time in more than two years, office vacancy rates in Manhattan are on the decline. Vacancy rates dropped from 11.6% in the first quarter to just 10.8% at the end of the second quarter as nearly 7 million square feet of space was leased across the market.
There are still millions of square feet available, and buyers/tenants currently have the upper hand in sale/lease negotiations. With an uncertain economic recovery ahead, it is unknown if this drop in vacancy rates signals the start of the end of a difficult market, or if a double-dip recession will further delay a recovery market-wide.
Historically commercial real estate transactions were done on a one-off basis by local brokers. That changed in the late 1980s when Baxter Healthcare, a Fortune 500 firm based in Chicago, IL, outsourced its entire real estate department to Trammell Crow. The motivation for Baxter was to reduce overhead and focus on its core business. Trammell Crow was able to make a profit on the former Baxter real estate staff but a bigger revenue generator was the monetization of Baxter’s portfolio by Crow
As other corporate real estate departments began to emulate the Baxter/Crow model with a focus on cost reduction, other firms began offering new services to differentiate themselves further. Specifically, tenant-only representation; design & construction; web-based technology and lease administration. In this competitive environment the issue of commission sharing was introduced. The leading firms in fee sharing were Staubach, Equis and USI. Also all three firms were strictly tenant advisors. More >