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Archive for July, 2013

BOMA Survey: Office Tenants Optimistic About Future Staffing, Space Needs

A recent article from the CoStar Group shared the results of the first survey of tenant sentiments and needs by the Building Owners and Managers Association (BOMA) International since 1999. Despite the recession and changing workplace trends, the walls aren’t closing in on office space requirements just yet, according BOMA.

BOMA found that, as a group, office tenants are optimistic about the future — more than 75% of respondents in the 2013 BOMA Global Office Tenant Survey plan to increase staffing levels and space requirements, or at least retain their current employee headcounts and office footprints.

“Clearly, tenant space configurations are different – they need to be friendly and collaborative, with such features such as a work bench, a fun room or multimedia room – but the need for more office space is not going away,” noted John Combs, principal of RiverRock Real Estate Group, a West Coast-based CRE management and leasing firm providing property management for industrial, office and retail assets.

“[Requirements] can’t shrink too much more,” added Combs. “Those companies that are leasing are taking the same or more space. It’s reconfigured and it’s denser, but many people are hiring.”

Atlanta-based Kingsley Associates conducted the survey of nearly 1,300 office tenants between March and April, revisiting attitudes, priorities and needs of office tenants for the first time since a January 1999 report by BOMA and the Urban Land Institute (ULI).

Kingsley vice president Phil Mobley gave an overview of the “What Office Tenants Want: 2013 BOMA Global Office Tenant Survey” at this week’s Every Building Conference and Expo before several thousand attendees at the San Diego Convention Center.

Michael Prabhu, managing director Jones Lang LaSalle’s property management portfolio in Southern California, Arizona and Nevada, also noted that the outlook among building owners was positive, with improving economic conditions and fundamentals trending in their assets trickling down to the property management level and interactions with tenants.

“We feel the corner has been turned and the economy is moving along, albeit slowly, but in the right direction,” Prabhu said. “Tenants in our buildings are feeling more comfortable and confident, which is driving some of their space utilization decision making. It’s a more optimistic environment.”

As expected, the survey results reflect the major changes in office tenant priorities since then.

In 1999, barely half of respondents to the previous BOMA survey were located in assets with “intelligent building” features and systems almost taken for granted today such as HVAC, fiber optics, cabling for Internet and high-speed networks, and LAN/WAN connectivity, and strategies such as coworking, hot desking and hoteling were mostly outside the office workplace mainstream a decade and a half ago.

While the updated survey found no universal “next big thing” comparable to the rapid changes in technology and alternative workplace strategies that swept building management in the 2000s, Mobley said the latest study showed that three of the top five factors influencing overall tenant satisfaction are service-related.

One relatively easy way to add value to a building is the addition of health and hygiene amenities such as anti-bacterial dispensers.

“Such amenities are comparatively rare in buildings occupied by survey respondents, but they are rated highly when present,” Mobley said.

The full results of the BOMA study will be released next month, including data on tenant attitudes about sustainable building programs and features space usage and telecommuting trends.

About The Sundance Company

Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

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How Corporate Logos Have Evolved

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

Daily Habits That Will Make You Happier

An article from Inc.com discusses how minor changes in your daily routine can make a major difference in your life an career.

Happiness is the only true measure of personal success. Making other people happy is the highest expression of success, but it’s almost impossible to make others happy if you’re not happy yourself. With that in mind, here are nine small changes that you can make to your daily routine that, if you’re like most people, will immediately increase the amount of happiness in your life:

1. Start each day with expectation. If there’s any big truth about life, it’s that it usually lives up to (or down to) your expectations. Therefore, when you rise from bed, make your first thought: “something wonderful is going to happen today.” Guess what? You’re probably right.

2. Take time to plan and prioritize. The most common source of stress is the perception that you’ve got too much work to do.  Rather than obsess about it, pick one thing that, if you get it done today, will move you closer to your highest goal and purpose in life. Then do that first.

3. Give a gift to everyone you meet. I’m not talking about a formal, wrapped-up present. Your gift can be your smile, a word of thanks or encouragement, a gesture of politeness, even a friendly nod. And never pass beggars without leaving them something. Peace of mind is worth the spare change.

4. Deflect partisan conversations. Arguments about politics and religion never have a “right” answer but they definitely get people all riled up over things they can’t control. When such topics surface, bow out by saying something like: “Thinking about that stuff makes my head hurt.”

5. Assume people have good intentions. Since you can’t read minds, you don’t really know the “why” behind the “what” that people do. Imputing evil motives to other people’s weird behaviors adds extra misery to life, while assuming good intentions leaves you open to reconciliation.

6. Eat high quality food slowly. Sometimes we can’t avoid scarfing something quick to keep us up and running. Even so, at least once a day try to eat something really delicious, like a small chunk of fine cheese or an imported chocolate. Focus on it; taste it; savor it.

7. Let go of your results. The big enemy of happiness is worry, which comes from focusing on events that are outside your control. Once you’ve taken action, there’s usually nothing more you can do. Focus on the job at hand rather than some weird fantasy of what might happen.

8. Turn off “background” TV. Many households leave their TVs on as “background noise” while they’re doing other things. The entire point of broadcast TV is to make you dissatisfied with your life so that you’ll buy more stuff. Why subliminally program yourself to be a mindless consumer?

9. End each day with gratitude. Just before you go to bed, write down at least one wonderful thing that happened. It might be something as small as a making a child laugh or something as huge as a million dollar deal. Whatever it is, be grateful for that day because it will never come again.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

Your Guide to 4th of July Fireworks

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.