There are many different terms that commercial tenants usually think of during the office lease negotiation phase. From rentable square footage to common area maintenance to subleasing and assignments, there are undoubtedly many terms to consider. One thing that most commercial tenants forget during lease negotiations is what should happen if the unexpected happens…
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This article was originally published from LIBN.com. See the post here. Festo USA, a robotics and pneumatics maker that recently moved its manufacturing operations to Ohio, leased 52,742 square feet of office space in Islandia. The U.S. division of Germany-based Festo, which has been on Long Island since 1972, will be bringing 125 employees..
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As I’m writing this blog post in September of 2016, construction crews are tearing down Oprah’s Harpo Studios in Chicago’s urban West Loop neighborhood to make room for McDonald’s new world headquarters. While this is a victory for the gentrified West Loop, it is also a loss for suburban Oak Brook. This trend is ongoing..
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Site selection is much more complicated that just looking for the most attractive space at the lowest possible rent and CAM. More than those straightforward issues, the key to finding a great location is to find one that is affordable to operate and that fits well into your existing corporate real estate portfolio and..
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When the time comes for a commercial lease renewal, it might seem like a simple process. The decision to stay simplifies the process since you won’t need to tour sites, and, especially if you have a renewal option, negotiating the price and terms is usually easier, as well. However, if you look at..
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As the role of mobile devices in the commercial real estate workplace matures, many real estate professionals like you are finding that they are useful business tools almost more than they are useful real estate tools. While applications like CoStar Go, PowerOne Finance Pro Calculator and LoopNet are useful, the real power frequently..
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Designing an office floor plan is not like it used to be. Once, you set up a reception area with a conference room off of it, put the most senior employees in the corners with big offices, the middle people on the glass line with smaller offices, and everyone else in the middle in..
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Some of the most confusing commercial lease terms come in how an office space’s area is determined area. Gross, rentable and usable square feet are all different, and impact your occupancy costs. Space Basics Most office spaces are leased out on the basis of their size. All things being equal, a bigger..
CONTINUE READINGOne of the upshots of optimizing your company’s corporate real estate portfolio is that you will probably end up moving around a bit. Whether you are looking to consolidate multiple spaces into one, downsize a too-big space or simply move for a better deal, office relocation is usually in the cards for any company..
CONTINUE READINGWith the end of the calendar year looming, many companies have cost cutting on their mind either to maximize profits for 2014 or to get 2015 off to a good start. While rent might seem like a relatively inflexible cost due to the long term nature of many leases, you have more control over your..
CONTINUE READINGIf you’ve ever wondered what it’s like to switch sides and become a commercial real estate broker instead of a client, read on. This is a great industry — and an exciting one — but it isn’t an easy one. Here are five tips that you need to know to make it in our..
CONTINUE READINGWhen tenants negotiate leases, they frequently focus on the basic numbers — the amount of the per square foot rent, the size of the space and the size of the tenant improvement allowance. However, seemingly small details can have a significant impact on the overall economics of the transaction — frequently outstripping what a..
CONTINUE READINGAs you review your company’s commercial real estate holdings, you might find spaces that no longer suit your needs. In those cases, subleasing can help to blunt their impact on your bottom line. When you sublease out a commercial real estate space, your relationship with your landlord essentially doesn’t change. You remain obligated for..
CONTINUE READINGWhile having a big picture strategy is an important part of maximizing your company’s corporate real estate investment, the strategy gets executed in the area of tactical commercial real estate. The nuts and bolts of what is happening with your portfolio make up the building blocks that you need to achieve business goals. Here are..
CONTINUE READINGThe Financial Accounting Standards Board, usually referred to by its initials — FASB — makes the rules for how companies in the United States do its books. Over the years, FASB’s standards have differed from those set by the International Accounting Standards Board (IASB) for use in other countries. As the world economy continues..
CONTINUE READINGCommercial real estate today bears little resemblance to the industry of 20 or 30 years ago. Once, the CRE industry depended on capital from a hodge-podge mix of investors that were either overly involved in the asset or that owned it for everything but the fact that it was real estate. Since then, the..
CONTINUE READINGOne of the classic questions in commercial real estate is whether it’s best to lease or buy space. Every time the question gets asked, the answer is always the same: it depends. Here are four ways to dig deeper and find out which strategy is right for your business. Cost Up front, the rule of thumb..
CONTINUE READINGWhen you run a corporate real estate portfolio, it can be easy to get stuck in the nitty-gritty of managing each individual location and how they relate to your company’s needs. However, the broader tides of the commercial real estate industry also impact you. As the other side of the industry — the investor and..
CONTINUE READINGUsing a tenant representation expert when you look for space might be the biggest no-brainer in the commercial real estate industry. If you’re considering going on your own for your next lease, here are the top five reasons that you need to get a broker. Access to Spaces Between LoopNet, building web sites and all of..
CONTINUE READINGFor many tenants, a rent escalation is a yearly occurrence. They can come in two basic types — fixed and variable — although they can also come into play when your lease comes up for renewal. While some tenants are able to avoid them, they are usually an unavoidable cost of occupying real estate and..
CONTINUE READINGWhile lease negotiations may cover complicated legal documents that can carry millions of dollars in overall costs, turning the process around to your benefit doesn’t have be hard to do. To make your negotiations successful, the key is to go in with a good strategy. Here are some tactics that you can use to..
CONTINUE READINGWith Apple announcing the release of OS X Yosemite coming some time this fall, here are 5 things you need to know. Spotlight Spotlight searches will now display information from Wikipedia, Bing, news, Maps, movies, and more. This will make searching much easier, all from one place, instead of having to open Safari and searching..
CONTINUE READINGWith Apple previewing iOS 8, there are a bunch of new features that users will find extremely useful. Here are 5 new iOS 8 features that we learned from Monday’s keynote. Battery Usage Indicator One of the most common complaints about the iPhone is the battery drains too fast. Besides closing unused apps and..
CONTINUE READINGThe top six corporate real estate markets for emerging tech companies aren’t all as predictable as you might expect. While usual suspects like Boston and Silicon Valley remain on the list, other markets throughout the United States are also prominent, reflecting new centers of learning as well as the ongoing penetration of technology into everyone’s..
CONTINUE READINGNo matter how many expenses your landlord takes care of for you under your lease, or bundles into your common area maintenance charges, at least one additional item is unavoidable. A tenant liability policy is a fundamental part of your business liability insurance and serves to protect both you and your landlord, especially if..
CONTINUE READINGCorporate real estate users usually turn to sublease space for one of two reasons, sometimes both. For some tenants, subleased space can be the only way to get into a full building that is desirable. At other times, tenants are drawn to subtenancy because it usually offers opportunities to get space at a discount. It’s Fast..
CONTINUE READINGOne of the many benefits of joining a franchise organization is that you can leverage its expertise to choose the best possible site for your business. However, while a franchise can give you the basic site selection criteria, every community and location is different. As such, talking to the right people can help you find..
CONTINUE READINGA commercial real estate broker may very well be the most valuable tool available to you in managing your real estate portfolio. Whether you are looking to lease or buy space, brokers help you with every stage of the process. Furthermore, in most cases, their services won’t cost you anything. Needs Analysis The best brokers..
CONTINUE READINGThe make-good clause is among the costliest of lease clauses. Returning the premises to the original condition in which you leased it sounds completely reasonable. However, this can also subject you to significant costs at rollover time if you don’t plan for it. As with most lease clauses, the make-good clause is defined differently..
CONTINUE READINGWhen tenants negotiate leases, they frequently focus on the basic numbers — the amount of the per square foot rent, the size of the space and the size of the tenant improvement allowance. However, seemingly small details can have a significant impact on the overall economics of the transaction — frequently outstripping what a dollar..
CONTINUE READINGThe process of acquiring commercial real estate for your business really starts once you put the property under contract. While you should do preliminary investigations when assessing potential spaces, the certainty of a contract allows you to put forward an effort that will make the most of your new acquisition. Here are some tips to..
CONTINUE READINGThe Heartbleed Bug is a security vulnerability that puts users’ passwords at many popular websites at risk. If you haven’t already, change your passwords on the websites affected by the bug. What You Should Know The Heartbleed Bug uses a vulnerability in a cryptographic software library. That library is called OpenSSL, which is..
CONTINUE READING4-11-14 – Long Island Business Lake Success-based Dealertrack Technologies will soon expand to a yet-to-be-built 233,000-square-foot headquarters on 9 acres in North Hills, and promises to add more than 350 new jobs to the 500 or so employees it already has here. Terms of the deal weren’t disclosed. The company, which provides data access..
CONTINUE READINGWhether your company is using commercial real estate software or you have a team that analyzes your portfolio with you, you’re probably awash in CRE metrics. Just about every aspect of your company’s corporate real estate holdings can be quantified and calculated, making it challenging to determine which metrics matter and which don’t. Here are..
CONTINUE READINGThe commercial real estate world is still different from other parts of the broader business world. While media coverage of our industry is increasing, we still don’t get the same ink as other types of investment. One of the best ways to learn about what is happening in the CRE world is to read blogs,..
CONTINUE READINGBefore choosing an office, most corporate real estate directors go through a standard set of site selection criteria. Key site drivers usually include a location’s proximity to major freeways, nearby vendors, supportive services and the area’s demographics. While those are all important factors, there are some less-common ways to evaluate a space that may have..
CONTINUE READINGWhen you sign a commercial lease, your hope is probably that you and your landlord will co-exist in a state of perpetual harmony. However, that isn’t always the case. Even in commercial properties, landlords and building managers can vary greatly. To protect yourself, consider working with your corporate real estate agent and your attorney to..
CONTINUE READINGA tenant improvement project is both exciting and harrying. The most challenging part is getting the space negotiated, designed, permitted and built before you need to move out of your old space. The key to managing the process is to get an early start. Preparing to Lease In a perfect world, your company would have..
CONTINUE READINGNearly all corporate real estate lease agreements contain a rent escalation clause. The concept is similar to the technique used in a lease for a “freestanding” commercial space occupied by a single tenant. The provision ensures that landlords receive a fixed return on the space as well as reimbursement for a number of capital costs and..
CONTINUE READINGMany businesses gravitate to class A office space by default for there prestige, prominence and amenities. However, Class B and C spaces also have plenty of upside and should be included in site selection surveys for just about any business. Understanding Building Classes Building classes aren’t hard-and-fast categories. They vary depending on the market and on competitive..
CONTINUE READINGBefore reading on, it’s important to understand that lease administration is not simply an expense. It’s an opportunity! Done correctly, lease administration can create opportunities to both reduce expenses and grow capital investments. Here are the top five ways that lease administration can help your company’s bottom line: 1. Identify Negotiating Opportunities Combining lease..
CONTINUE READINGFormulating corporate real estate strategy is challenging for a startup company. Startups need space like any other business. However, real estate is expensive and frequently takes long-term commitment, even though a new venture usually has neither money nor the ability to make such a commitment. With the right strategy, a new company in its earliest stages..
CONTINUE READINGNo matter how far you are into your lease, the question begs to be answered. Knowing that you are paying at or below market level not only delivers peace of mind, but it’s also the first step to a maintaining an efficient corporate real estate strategy that delivers business results. When you know which properties..
CONTINUE READINGNegotiating a commercial office lease is a challenging and time-consuming responsibility. When lease terms look familiar, many tenants take a cursory look at the clauses and sentences. In an attempt to maximize total rent, you should expect the landlord to add language or provisions that serves to meet this objective. It’s critical for you to..
CONTINUE READINGIf you’re part of a company who is constantly seeking to cut back on the most expensive aspects of operation, it’s time to start looking at your corporate real estate portfolio. As a major expense for most companies, evaluating occupancy costs throughout your corporate real estate portfolio can be the key to freeing capital..
CONTINUE READINGToday’s workplaces contain employees spanning four generations. They have to serve both employees that work long hours in the office as well as accommodate road warriors that spend little, if any, time at the office. With all of these different demands, it can be challenging to design an office space that will keep every employee..
CONTINUE READINGA CRE portfolio exists in three different blocks of time. You sign your leases in the past, you occupy spaces in the present and they need to serve your business’ needs in the future. Balancing these three time spans can be challenging for a portfolio manager. However, applying traditional tools from the fields of risk..
CONTINUE READINGTenant representation is one of the most valuable corporate real estate services that your company can invest in. In many cases, it doesn’t even cost anything. However, just because it’s free doesn’t mean that you shouldn’t maximize the value that you get from your representative. When you choose a skilled tenant representative, you might be..
CONTINUE READINGOffice relocation into a new market is never a simple process, but can be extremely rewarding for business. Done right, it can streamline your operations and reduce your costs, put you in a position to take advantage of new opportunities or both. Done wrong, it can be an expensive distraction that interrupts operations and harms..
CONTINUE READINGIf you make a small leasing mistake in an office, it might cost you a little bit of money. Getting the wrong space or the wrong lease terms when you’re a retailer could tank your entire business. After all, you can’t contract out retailing or have salespeople sell from home if you’re a brick-and-mortar retailer…
CONTINUE READINGSun Tzu said, “If you know your enemies, and you know yourself, you will not be imperiled in a hundred battles.” Okay, we are not discussing war, but commercial real estate. Quite different, but the basic rationale behind this quote is more than relevant. Considering the importance of commercial real estate transactions, qualifying a prospect..
CONTINUE READINGMergers and acquisitions can provide synergy throughout both merging organizations. However, they can also pose a range of logistical challenges. Managing a corporate real estate portfolio in the face of a merger is especially challenging: the needs of the company organically change and the portfolio has to be actively managed to serve those changes. While..
CONTINUE READINGOffice relocation can be the solution to a company’s problems with its existing space. Unfortunately, it can also cause a host of new problems. Many companies go into theirrelocations with some basic misconceptions that can lead to new spaces that don’t fit their needs and leave them in a position to have to relocate again…
CONTINUE READINGIf you’re looking to engage in real estate investment for your New York-based business, the state government may have money for you. The Empire State Development program offers both grants and loans that can help with the cost of your business’ next corporate real estate acquisition or development. New Markets Tax Credits If your..
CONTINUE READINGIf you’ve got a growing innovative business, there are three cities that you can cross off of your site selection list – San Francisco, San Jose and Boston. All of them posted lower than average growth in STEM (science, technology, engineering and mathematics) jobs. The new, hot and emerging markets are clustered in the middle..
CONTINUE READINGAn office relocation doesn’t happen overnight. But if you do it right, it’ll look that way to your coworkers. Although the process of identifying and leasing space should start around a year before your final move date, the actual move timeline starts about six months prior to when you relocate to your new space. Here..
CONTINUE READINGOne of the challenges of starting and growing a business is finding the right space. After you have narrowed your new commercial space down to a few options, for the most part, you have met your due diligence requirements—budget, type, location, and size. Now comes the daunting part—negotiating the lease. Even if the local market favors buyers,..
CONTINUE READINGGenerally, commercial landlords send out operating expense (OPEX) reconciliation statements for the prior year 90 to 120 days after the end of the calendar year. Many tenants receive a bill that does not provide sufficient explanation of the total amount billed or provide supporting documentation. Typically, most commercial landlords assume that tenants won’t check expenses..
CONTINUE READINGBesides rent, commercial tenants who rent space incur a number of occupancy costs. They may include common area maintenance, property tax payments and other expenses beyond their monthly rental payment. When you negotiate a commercial lease, it’s important to find out from the broker what other expenses are associated with leasing the premises. In many..
CONTINUE READINGCommon in regional shopping centers, percentage rent clauses in leases are not limited to that venue. While a percentage lease can help to motivate a landlord to promote his property, increasing your sales and his rent collections, it also carries the potential for wild swings in your rent that accrueto your landlord’s favor instead of..
CONTINUE READINGAt the end of the day, your company is the one signing the checks for its corporate real estate portfolio. You take responsibility for managing the spaces, handling the expenses and planning the cash flows, but you aren’t alone. Nowadays, most companies utilize the services of a Tenant Rep real estate broker to advice them..
CONTINUE READINGWhen a company needs new office space, generating a formal request for proposal (RFP) is a good first step. While many companies find space without creating an RFP, they are missing out on two key benefits. With an RFP in hand, brokers and landlords know exactly what the company needs and can tailor their offerings..
CONTINUE READINGOpening up a new space or relocating your business can be a dizzying process. All at the same time, you have to juggle moving into the space, paying for the space, and building it out. The fact that the tenant improvement industry uses a range of unfamiliar terms can make getting your space ready even..
CONTINUE READINGDetermining the optimal time to renew your lease can be challenging. On one hand, your lease has a built-in deadline by which you must renew to retain your rights to your option, and it’s important that your critical date management systems keep track of this date. On the other hand, market conditions could make it..
CONTINUE READINGIf you’ve already signed your lease, you might have missed some common lease terms that can be disadvantageous to corporate real estate tenants. Here are a few things to check for in review of existing agreements or new leases that you sign moving forward: Clearly Defined Premises Many leases are not clear as to exactly..
CONTINUE READINGThe first part of an occupancy cost analysis is figuring out exactly how much your space actually costs you to occupy. There are more factors that go into your space than just your base rent. Looking at your effective rent, which includes your base rent with escalations, the cost of CAMs and additional rent, and..
CONTINUE READINGWhen you lease space, your landlord usually includes a great deal of language in the lease to protect them against you defaulting. On the other hand, they frequently gloss over what will happen if they default — and landlords do default. Landlord defaults tend to fall into two broad camps — when they default on..
CONTINUE READINGIn order to protect themselves, many corporate tenants use the services of a tenant representative. A quality tenant representative, or tenant rep, will walk the user through the process and lend his or her expertise in each stage of the transaction – from planning to unpacking. But finding a good tenant representative can often be..
CONTINUE READINGA new year brings new challenges, new responsibilities and new opportunities. As you review your company’s real estate portfolio, there are three questions that you need to answer to maximize your return on the capital you have allocated to your corporate real estate. How can we be nimble for changing business conditions? Like most aspect..
CONTINUE READINGPoint-and-shoot cameras have several advantages over their Digital Single-Lens Reflex (DSLR) counterparts. They are smaller, lighter, and much easier to carry around from property to property, and with no interchangeable lenses to deal with, a point-and-shoot is comparatively hassle free. For most applications, you won’t notice much difference in picture quality, and most point-and-shoot cameras..
CONTINUE READINGMost warehouse managers report that their biggest problem is that they do not have enough space. Yet, many warehouses operate with just 20 percent of their space being used at any time. Furthermore, some warehouses that have higher utilization rates end up with higher costs due to the negative impacts of high utilization on employee..
CONTINUE READINGCorporate real estate administrators that have been nice this year may be in a good position to ask Santa for favors. Rather than asking for socks, scarves or jackets, why not ask for a better lease? Here are three clauses that are extremely tenant-friendly, but are also achievable for tenants in a good negotiating position…
CONTINUE READINGCommercial real estate executives looking to renegotiate their leases in 2013 can take advantage of what will likely be a tenant friendly market. While a big part of this is negotiating for a lower cost of occupancy, the market also presents opportunities to change the nature of the lease so that it is a less..
CONTINUE READINGSpecial thanks to PALS, Newsday, and News12 Long Island for making this such a great day! Check out the Newsday Feature Here!
CONTINUE READINGHere are some of my suggestions for back up programs: Windows computers offer a plethora of third-party programs for relatively cheap. My suggestion for a near enterprise-level backup schemes and security is Acronis True Image. This flexible and powerful program can actually create full, live disk images of your PC so that when the time..
CONTINUE READINGIn an effort to be diplomatic, I’m going to address both the positive and negative aspects of the commercial real estate market that are currently being discussed by various sources. This is mainly an attempt to give you, the reader, an unbiased look at the biases currently the web. After outlining both positions, perhaps you’ll..
CONTINUE READINGWith the referendum rejected, Nassau County Executive Edward Mangano put out a plea for private developers to submit proposals for a revamped Nassau Coliseum. Nassau taxpayers expressed their dissent when they rejected Wang’s proposed tax hike to fund the Coliseum’s renovation and now Mangano is hastening to find another, privately funded, alternative. Despite his disappointment,..
CONTINUE READINGDisaster might rear its ugly head once again in the shape of a second, more devastating recession in the United States. Just when the U.S. started the arduous task of digging themselves out of their financial hole, another tsunami in the form of the “debt deal debacle” came and washed away all their progress. But..
CONTINUE READINGBrookhaven Laboratory announces their planned renovation of two buildings on the 5,300-acre campus, set to begin October 1. The project is estimated to cost a total of $50.8 million, $33 million going solely into the renovation and modernizing of both buildings. The renovations will be funded by the U.S. Department of Engery’s Science Laboratories Infrastructure..
CONTINUE READINGCommercial lending has rebounded quite successfully this quarter, showing an increase tantamount only to the second quarter of 2008. A good sign for those of us in the CRE market, as it shows a steady and growing industry ready to move back into the game. The index recorded a 107% jump from last year’s statistics,..
CONTINUE READINGWith a debt deal finally settled and an economy hanging on by a thread, the first plan of action for anyone who owns, leases or invests in property is to decide what to do next. All trends have been pointing toward a positive growth in the commercial real estate sector, but will this continue now..
CONTINUE READINGAround 100,000 Nassau County voters flocked to the polls yesterday to cast their ballot on the proposal for a new Coliseum– and the majority of residents decided they like their Coliseum just the way it is. Sixty percent of voters rejected the plans for renovation, which was going to include a minor league ballpark and..
CONTINUE READINGToday, Nassau County residents decide the fate of the $400 million referendum to redo the Nassau Coliseum. Passing the referendum would mean an increase of about $14 in property taxes (or 4%) per Nassau County household which, to most, seems like a reasonable price to pay in comparison to all benefits of a new complex…
CONTINUE READINGThis past decade has produced quite a number of technological innovations, but the one that takes the cake has to be “cloud” computing. The movement toward virtual space storage and away from cumbersome, vulnerable sites dedicated to housing hardware has officially taken hold and the government has jumped on the bandwagon. This year, the federal..
CONTINUE READINGDebt ceiling, deficit, national debt, financial crisis—lately these words have been thrown around carelessly by everyone from congressional leaders to your grandmother. The current situation in the United States has everyone talking, but are they really listening (and understanding) the words they are regurgitating? “Deficit,” “national debt” and “debt ceiling,” have been reeled off so..
CONTINUE READINGWhether or not Congress unanimously decides on a plan to raise the debt ceiling, one thing is certain: federal spending needs to be cut substantially over the next decade. The amount of cuts will be based solely on which plan Congress decides to implement (if they ever reach an agreement). But government spending cuts might not produce..
CONTINUE READINGLess than a week to go until our country self-destructs in a financial massacre. It seems like only yesterday I was writing about the August 2 deadline and how government officials better get their act together to come up with a plan before we default. I honestly thought they would have figured something out by..
CONTINUE READINGNeed to send a package? No problem, head over to your local post office and—wait. What happened to it? If you live in an area with more than one post office in a 2-mile radius, beware– your post office could get the boot. About 3,700 post offices around the country are predicted to shut down..
CONTINUE READINGCore consumer inflation rose to its largest increase in three years this May. A core inflation of 3% has economists and financial experts feeling disturbed. This is also the strongest monthly rise since July 2008. We are facing core inflation on both the goods and services sides. There is a split between prices and activity,..
CONTINUE READINGLeft to Right: Benjamin Segal (US Air Force), David Windmiller (VAC Pilot), Joe Howley (PALS founder & Pilot), Andrew Thompson (English Veteran), Jonny Strasse (Physical Therapist), Don Catalano (President of iOptimizeRealty™, VAC Pilot), Seated- Joe Woodke (USMA) This past Wednesday July 20, president of iOptimize Realty.com™, Don Catalano joined forces with fellow Veterans Airlift Command (VAC)..
CONTINUE READINGIn a typical lease negotiation, the parties, the attorneys and the brokers focus only on the key financial aspects within the lease document. However, there are subtle and seemingly innocuous clauses that can cost the tenant a pretty penny long after the lease has been signed. Here’s a quick list of 5 Dangerous Lease Clauses:..
CONTINUE READINGIn the last installment of our 5 part new FASB series, I’ll outline the new procedures for balance sheet offsetting, revenue recognition, comprehensive income and multiemployer pension plans. Once again, I want to congratulate you on making it through the arduous task of reading about these changes—and don’t worry, if your eyes glazed over or..
CONTINUE READINGPart Four starts off with a little summary on the impairment changes, goes through the lessor accounting model and ends with a brief outline on insurance contracts. During their discussions, FASB and IASB came up with a “three bucket” expected loss approach for impairment of financial assets. They are as follows: Bucket 1 holds assets..
CONTINUE READINGIn a typical lease negotiation, the parties, the attorneys and the brokers focus only on the key financial aspects within the lease document. However, there are subtle and seemingly innocuous clauses that can cost the tenant a pretty penny long after the lease has been signed. Here’s a quick list of 5 Dangerous Lease Clauses:..
CONTINUE READINGA little less than two weeks to go and Congress has yet to agree on a plan that will save the United States from defaulting on their outstanding loans. The borrowing limit was surpassed nearly three months ago and yet no notable, let alone aggressive, progress has been made to shrink the country’s outstanding deficit..
CONTINUE READINGYou’ve made it this far, so I’m not going to bore you with any more quips about FASB or their new regulations—it’s already boring enough. Onto business, then. Lessees will use the incremental borrowing rates at the lease commencement to calculate the amount capitalized. Leases with interim funding will have deferred and amortized earnings on..
CONTINUE READINGIn a typical lease negotiation, the parties, the attorneys and the brokers focus only on the key financial aspects within the lease document. However, there are subtle and seemingly innocuous clauses that can cost the tenant a pretty penny long after the lease has been signed. Here’s a quick list of 5 Dangerous Lease Clauses:..
CONTINUE READINGSo you made it through Part One and were curious enough to move on to Part Two? I commend your bravery. In this article, I’ll continue outlining the expected changes FASB is working on implementing. This will include modifications in: lessee profit and loss pattern, purchase options, variable payments, residual guarantees, short term leases, and..
CONTINUE READINGAre you ready for the new FASB rules? If you’re like 99% of us, the answer is probably no. But the deadline is fast approaching and we are all running out of time to get organized and prepared. As most of you have probably heard, the new FASB is designed to make companies more transparent—especially..
CONTINUE READINGIn a typical lease negotiation, the parties, the attorneys and the brokers focus only on the key financial aspects within the lease document. However, there are subtle and seemingly innocuous clauses that can cost the tenant a pretty penny long after the lease has been signed. Here’s a quick list of 5 Dangerous Lease Clauses:..
CONTINUE READINGIn a typical lease negotiation, the parties, the attorneys and the brokers focus only on the key financial aspects within the lease document. However, there are subtle and seemingly innocuous clauses that can cost the tenant a pretty penny long after the lease has been signed. Here’s a quick list of 5 Dangerous Lease Clauses:..
CONTINUE READINGCommercial real estate continues its positive recovery as the second quarter of 2011 progresses. Though the housing market and stagnant job market continue to burden the economic health, growth is expected to pick up substantially as the second half of the year begins. “The office market posted its fifth consecutive quarter of positive net absorption..
CONTINUE READINGAs it turns out, the U.N. isn’t just all work and no play. At least, not since Albany approved their proposed plan to build another office tower on the Robert Moses Playground. I guess world leaders need a break too, and what better way is there to unload stress than climb on the monkey bars..
CONTINUE READINGSo far Congress has rejected the pleas for a temporarily increased debt ceiling, intent on forcing congressional leaders to “come up with a broad agreement . . . in order to avoid a government debt default in August.” However, if a decision isn’t reached soon, a default could have a deafening impact of the US..
CONTINUE READINGIn light of the recent turnaround in the commercial real-estate sector, the market has, so far, shown an increase in the amount of occupied office space in the first and second quarters of 2011. The first quarter showed an increase of 5.5 million square feet of inhabited office space, while the second measured a close..
CONTINUE READINGAs of late, the SEC (Securities and Exchange Commission) has begun to crack down on lucrative REITs that aren’t being traded on the stock exchange. It’s been estimated that REITs have made over $73 billion for investors in the past 10 years, despite the recession and since 1990, SEC has approved around 90 nontraded REITs…
CONTINUE READINGPredicting the future of commercial real estate sales transactions is a risky business for anyone, considering the market is only just starting to recover. In this delicate stage, one small factor could send us sliding back into a recession, but for those brave souls who are looking to shed a little light on the forecast..
CONTINUE READINGEver heard of lazyweb? If you’re not a Twitter user or if you rely solely on search engines to get your information, you probably haven’t. But for those hardcore tweeters out there, lazyweb is just another tool at your disposal for finding answers to questions you’re “too lazy” to search for on Google. It’s been..
CONTINUE READINGProfessionals and supporters alike gathered at yesterday’s grand opening of the new Motor Parkway Plaza in Hauppauge. David Abel, president of United Realty, emotionally expressed his thanks and gratitude to all those who believed in his project, enabling his vision come to life. He said when he first started the project “I did not even..
CONTINUE READINGThis Thursday June 30, United Realty of Hauppauge, Long Island is making their big reveal—a 33,000 square foot, completely self-financed “green” plaza off exit 55 on the LIE. The Motor Parkway Plaza will be home to both commercial and retail office space, acovered courtyard, restaurants and a lower-level parking garage. The complex was created using..
CONTINUE READINGFeel like you’re paying too much for your utilities? Wish there was a cost-effective way to make your industrial or commercial space more affordable to run? LIPA provides some helpful tips to make running your business cheaper and greener. LIPA’s Commercial Efficiency Program is currently offering rebates to qualifying commercial, industrial and other buildings who..
CONTINUE READINGThe $4 billion Heartland Town Square project is set to potentially break ground later this year. Developers Gerald and David Wolkoff (father and son) have been preparing for this moment for the past 10 years, dumping over $200 million of their own money into what will be the largest development in Long Island’s history. The..
CONTINUE READINGWant to read more? Go to REoptimizer The workspace is changing, and small-business owners are cashing in on the new ways to save money with a trend referred to as “flexible work space.” Read more at REoptimizer All information gathered from The Street
CONTINUE READINGWe don’t really comment on the residential housing market because we deal in commercial real estate. However, there is something interesting afoot in the residential real estate world. Foreign investors have sensed opportunity in the falling home prices that have been plaguing the US economy. Last year, $41 billion was put into US residential real..
CONTINUE READINGIn this Road Warrior post, learn how to be less of a road warrior! Using web conferencing services is an easy and affordable way to keep in touch with colleagues and clients while on the road and stay current in the global market. It’s amazing what you can do using web conferencing- hold a press conference, demonstrate..
CONTINUE READINGSomething big just landed in Cupertino. And yes, it’s in the shape of a UFO. That’s right, Steve Jobs, CEO of Apple, has come up with a rather unique idea for Apple’s new home: a 4-story, UFO-shaped, eco-friendly building made entirely of glass. Curved glass. Around the entire building. The new headquarters will be able..
CONTINUE READINGWant to know more? Go to REoptimizer to find out just how slowly our economy is recovering… I’m not sure if you guys know this or not, but we citizens of the United States are kind of in a “rough patch,” economically speaking. Shocking, right? Read the rest of the article at REoptimizer
CONTINUE READINGFind the rest of the apps at ReOptimizer Want to read the news? On your iPad? While you’re traveling? Here are some of the best apps to keep you updated while you’re on the road. Pulse Pulse is the hip, new way to read the news. It’s a personalized collection of all the information you..
CONTINUE READINGLEED buildings seem to be springing up all over Long Island and their presence is bringing greater awareness to environmentally friendly techniques and energy conservation for major establishments. LEED stands for the Leadership in Energy and Environmental Design; it’s a company designed to provide their clients with sustainable techniques and tools to make their building..
CONTINUE READINGRecent news has shed a more distinct light on Project Lighthouse’s upcoming bond referendum set for August 1. It’s been calculated that if Nassau County tax payers vote “yes” to the renovation of the Nassau Coliseum (the new features can be found here), their property taxes could go up about $58 per household. Of course,..
CONTINUE READINGThe new World Trade Center is under construction– Well, the WTC site is finally seeing some steady action. Construction is underway on two of the four buildings, with Tower 1 leading (68 stories tall) and Tower 4 not far behind (32 stories). The building of Towers 2 and 3 will depend solely on the market..
CONTINUE READINGPhotosynth Okay, so usually I do these things in sets of five, but this app deserves an entire article to itself. It’s incredible and free and created by Microsoft (seriously- nice job). This app is a panorama phenomenon. You can capture 360° of your surroundings in ONE PHOTO. It’s really incredible. You know those 360°..
CONTINUE READINGBanks are calling out— come take our money! Apparently there is quite a large amount of unused capital sitting in these credit unions, just waiting to be exploited. And you thought we were in a recession? Deficit who? Local industry specialists remark that this abundance of “extra money” is the result of the competitive lending..
CONTINUE READINGOur country is in debt, have you heard? Actually, we are so financially overdrawn we’ve blasted straight through that glass ceiling of our $14.29 trillion dollar limit 24 days ago and we keep soaring higher. And as it turns out, some people have noticed. Recently, Standard and Poor’s took our “stable” fiscal title and threw..
CONTINUE READINGAs commercial real estate market takes a (very) slow turn for the better, its impact on the US economy is thrown into sharp relief— and its effect has been pretty substantial. A reported $80 billion attributed to commercial real estate has been lost (yikes!) to commercial banks and nearly 1,200 of those banks at the..
CONTINUE READINGING Group completes the $100 million deal of the sale of its US-based private market real estate investment management business to the senior management. This decision, in part, is an attempt for the newly renamed Clarion Partners to return “to our partnership roots” during a “promising” point in the real estate market. Clarion Partners, who’ve..
CONTINUE READINGLong Island’s vacancy rates in the commercial real estate market is showing a positive trend in for 2011, however slight they might be. Positive absorption rates for the industrial market in the first quarter of 2011 ended with 280,004 square feet— quite an improvement over the 1.7 million square feet of negative absorption in 2010 and..
CONTINUE READINGLong Island based Canon USA, one of the world’s most well-known and successful companies, celebrated the completion of the first step toward their new headquarters back in May. The last piece of steel—sporting a small evergreen tree in its center— was lifted to the top of the structure after being signed by both Canon’s President..
CONTINUE READINGRead the full article at REOptimizer Here are some of the best Travel Apps for the frequent business commuter Kayak: for the busy traveler The ultimate flight tracker and hotel booker app for the frequent flyer- this FREE app has everything you could need to ensure your travel plans are covered. With this all-in-one..
CONTINUE READINGNYC price tags got you down? Considering a relocation? Look no further than the next county over. With Nassau’s prime locations and more affordable spaces, it’s a wonder you didn’t consider west Long Island before. The infamously high property taxes in Nassau county might seem out of reach at first, but with the right guidance..
CONTINUE READINGWant to read the whole article? Just go to REoptimizer to get a full list of helpful tips! Searching for your next potential commercial space is intimidating and exhausting — keep these simple steps in mind to make the process a little easier: 1. USE A GUIDE Save yourself time and (some) stress and get..
CONTINUE READINGThe bulb in Project Lighthouse has experienced quite a few sparks since its original proposal a few years ago, but it looks as though the fire that once kept the idea alive is slowing burning out. Most recently, Nassau County exces and the Islanders announced that residents would hold a vote for taxpayer funding. The vote..
CONTINUE READINGFind the full article at REoptimizer Revolutionizing Your Warehouse Productivity Are we ready for the future? Because it’s here. The Kiva robot has now become one of the hottest new employees for companies such as Walgreens, Gilt Groupe and Diapers.com. Why the big interest in our mechanized counterpart? The manufacturer claims it can quadruple productivity. Read more..
CONTINUE READINGRoad Warriors Rejoice! The new OS X is here! (well, almost) Can you hear it roaring? Because this OS X is the leader of the pack. Lion OS X introduces 250 new features including Air-Drop (peer to peer WiFi), auto-save on EVERYTHING, a new version of mail and a plethora of other new and exciting features Steve..
CONTINUE READINGIn the past week, there has been a big push to lower the national deficit… by getting rid of excess federal real estate. Last week, the House subcommittee on Economic Development, Public Buildings & Emergency Management approved a Civil Property Realignment Act and released a map of 14,000 federal properties that could be targeted..
CONTINUE READINGWillis Tower, formerly Sears Tower, located in downtown Chicago is up for sale. The 110-story building is the highest in North America and the decision to sell or recapitalize comes in light of the rising CRE values seen in the country’s top markets. The owners, including two New York based real-estate investors, acquired the building in..
CONTINUE READINGIn a recent interview with Matthew Fanoe, VP of real estate for Coca-Cola, he comments on the changing work environment and its positive effect on human relations. He remarks that the interaction today between peers and service providers is a major change from 20 years ago. There is more of a partnership between service providers..
CONTINUE READINGThe Legislative session is coming to an end, but the supposed New York Property Tax Cap is still just talk. Let’s get a move on! Seeing is believing. It’s not an attack on the public school system! Let’s learn from Massachusetts. A property tax cap was introduced decades ago, but students still score high on national..
CONTINUE READINGSo, two of the biggest commercial real estate websites decided to merge a month ago. What exactly does that mean for those of us in CRE? A revamped and enhanced LoopNet, according to their blog. The website has recently undergone some changes to make the experience and navigation more user friendly. It features a new..
CONTINUE READINGLadies and gentlemen, may I have your attention. President Barack Obama was seen sporting– get ready– an iPad. Why the sudden shift for this famous Blackberry lover? The answer is simple- Apple can keep their consumers happy with constant upgrades to their products. Large-scale contracts with companies such as Microsoft seem to be deals of the..
CONTINUE READINGWe will never forget the devastating events of September 11, 2001 and why the World Trade Center is such an iconic piece of real estate for our country. However, just last week, Silverstein Properties secured Conde Nast as One World Trade Center’s anchor tenant. Is UBS AG considering the relocation of its Stamford, CT investment..
CONTINUE READINGHere are some of the best applications iPad has to offer for businessmen and women on the go: 1. GoodReader – an app you absolutely cannot afford to be without Essentially an app that allows you to store virtually everything you’ve read, and everything you will ever want to read, on your iPad. It supports everything..
CONTINUE READINGThere I was on a property tour with a landlord, my boss and my client. Unbeknownst to me my client comes up with about $75,000 of new tenant improvements. The landlord says that’s easy they will amortize it into the rent as long as they can get 6.25% interest. The client then looks over at..
CONTINUE READINGJim Blasingame, one of the world’s foremost experts on small business and entrepreneurship, dishes about the “Not-So-Great Recovery” and decline in entrepreneurial optimism. His advice? Small business CEOs need to learn to balance the force of entrepreneurial optimism with the gravity of economic reality. Adopt this mantra: “If it is to be, it is up..
CONTINUE READING1. Additive Printing Additive or 3D printing, a process used to make product prototypes, may actually be able to replace the manufacturing process in the near future. This trend could result in lost manufacturing jobs, offset by new types of jobs in software programming and designing. What does it mean for CRE? There will no longer..
CONTINUE READINGIs it possible that CRE CDOs are showing stability and inching toward recovery? Yes, according to Fitch Ratings. After nearly three years, the global ratings firm has started to receive more inquiries about new CRE CDOs. B-notes, mezzanine loans, REIT debt, and seasoned multi and single borrower CMBS bonds have contributed to the broad range of..
CONTINUE READINGThe Moody’s/REAL Commercial Property Price Index is now 47% below the peak of October 2007, a 4.2% drop since this February. The sales of distressed properties amounted to almost one third of all March’s transactions, and continue to hurt real estate values and cause the index to drag along the bottom. Overall, the index shows..
CONTINUE READINGPart 1. The Usage Clause In a typical lease negotiation, the parties, the attorneys, and the brokers often focus only on the key financial aspects within the lease document. Watch out! There are subtle and seemingly innocuous clauses that can cost the tenant a pretty penny long after the lease has been signed. Stay..
CONTINUE READINGGovernor Andrew M. Cuomo is backing the Assembly’s plan to place a mandatory 2 percent ceiling on property tax in New York and has made passing a property tax cap his number one priority before the ending of the legislative session on June 20. The cap is geared towards areas like Long Island, Westchester County,..
CONTINUE READINGHenry Cisneros, urban real estate investing expert, former HUD Secretary and four-term mayor of San Antonio, shares his thoughts with GlobeSt.com on changing demographics and its affects on urban investing and development. In a six-question interview, Cisneros discusses America’s new city-friendly economy, advises cities to advance infrastructure plans to promote environmental sustainability, and speculates the suburban-to-urban development..
CONTINUE READINGCoStar Group began offering 3.75 million common shares to fund the pending $860 million acquisition of LoopNet, Inc, an online commercial real estate property listing space. Through this, CoStar will acquire extensive economic data concerning the CRE market, including coverage of property values, market conditions, and available real estate. Read more at HousingWire
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