Browse Tag: Office

5 of the Fortune 15 Are Building New Headquarters

Five of the 15 Fortune 500 companies will build new headquarters in 2017.

Amazon Joins Other Fortune 15 Companies in Building New Headquarters

Amazon recently announced the start of their selection process to find the location for a second headquarters that could employ as many as fifty thousand (50,000) new full-time employees with an average compensation exceeding one hundred thousand dollars ($100,000) over the next ten to fifteen years.  This opportunity has communities scrambling to identify the incentive package and real estate site that can land this amazing deal.  The initial requirement is for 500,000 square feet that will be open by 2019 that could grow up to 8 million square feet by 2027.  The establishment of a second headquarters by Amazon will be the fifth company within the top 15 of the Fortune 500 to begin or complete a new headquarters project in 2017.

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Where Is Commercial Real Estate Oversupply?

English: Welsh Assembly Office Construction De...

The national market for commercial real estate is a massive thing, a meta-market encompassing tens of thousands of localities, each with their own economies and histories, subject to their own internal logic — and illogic. When trying to take all of these in as a whole, it’s important to remember that the local stories always loom larger than might be apparent, and that effects are overwhelmingly driven by local needs, wants and preferences.

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Oil Prices Continue To Fall, Effects Felt In CRE Sectors

Harristown_Township_Illinois_Oil_Wells

As reporting about the world’s oil markets increasingly features terms like “glut” and “supply overhang,” property prices directly related to US oil extraction are widely taking a beating. At the same time, other indirectly related property sectors such as retail are benefitting from low gas prices.  In the wake of the latest drop in oil prices, here’s a quick roundup of the recently reported ripple effects in commercial property

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CNBC: The World’s Most Expensive Office Markets

Photo of Shangai Pudong district
Shanghai Pudong district. Photo credit: Lucas Shifres / Getty.

If you’re in the office space industry and you’ve ever wondered where it would lead if you followed the money to the top office markets in the world, take a peek at CNBC’s collection of eye-popping dollar figures per square foot in commercial centers across the planet.  Learn the moves from last year’s list — gainers and losers might be surprising.  From Shanghai Pudong districts’s relatively modest $132 per square foot all the way to…well, check out the list to learn the top.  (No, it’s not New York.)

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The Genius Among Smart Buildings: The Edge

Consider an office building that comfortably supports 2,500 workers…with fewer than half as many desks.  A building where all the lighting panels are connected by ethernet cable, making every panel controllable and customizable using an smartphone app.  A building sporting enough photovoltaic solar paneling to power the entire footprint, including electric car charging stations at the parking lot.  A parking lot that recognizes your car and directs you to an empty spot in the morning.

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Avison Young CEO: Canadian Commercial RE Boom At An End

As reported in Bloomberg Business, Toronto-based Avison Young’s CEO Mark E. Rose doesn’t see the global boom in commercial real estate continuing in Canada.  The indicators include rising vacancy rates in offices matched with new construction of 20 million sq. ft coming online across the country. Added to this is the recent move by the US Federal Reserve to raise borrowing costs plus the expectation that 2Q 2016 will see another hike by the central bank.

“We’re at a peak. I don’t think we’re getting any higher,” Mark E. Rose, chief executive officer of Toronto-based Avison Young, said in a phone interview. “The next step is down — it has to be,” Rose is quoted.

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Big, Bigger, Biggest: The Story Of The Skyscraper

https://www.youtube.com/watch?v=P7lWOkXuO8Q

The engineering and commercial histories of tall buildings tell an inspiring story of meeting and overcoming huge challenges in management, in materials science, in finance, in construction technology, and in environmental sciences.  Big, Bigger, Biggest is a beautifully made 45 minute film that covers it all, beginning in 1870 with the Equitable Life building in New York and culminating with Dubai’s Burj Khalifa, at 2,722 feet the world’s tallest artificial structure.

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