Colliers’ Post

🏢 Can you really convert #Office to #Multifamily? 🏘️ Maybe if you buy a deal at 89% of what it traded for in 2013... Maybe if you only pay $13.50 per square foot with the Willis (Sears) Tower in the back ground... Still, the floor plates of office properties are generally not conducive to laying out property for apartment living. Only about .4% of office space is converted to multifamily each year. Both 216 W. Jackson Blvd. AND 300 W. Adams St. in Chicago have traded at 89% discounts. Strange number. Even now, these buildings are not making sense to convert to apartments and might just try to undercut the surrounding office if the numbers work out. But the media likes the idea! #MultifamilyReidOut

This is an excellent example of repurposing existing landmarks to address the pressing need for housing. By converting this office building into residential units, we can expect the residential traffic to effectively balance out daytime activity, resulting in minimal additional traffic impact during peak hours. #reinvent #housing #atlanta #realestate

122m2 Ground floor office available for lease in this well-maintained, landscaped and secure office park. Situated near Flanders Boutique Mall and Cornubia Shopping Centre offering all amenities to staff. The office is fully fitted with a reception area, boardroom, various enclosed offices, communal kitchen/his and her ablutions. PROPERTY FEATURES: Fully air-conditioned, Basement bays for tenants and open visitors' bays, 24hr Access control security/security guard on-site, Fibre connectivity, Generator and solar, back-up water supply. LEASE INCLUDES: Operational costs, Rates & taxes - Base rate LEASE EXCLUDES: Utilities (electricity, water, sewerage & refuse), Parking - Basement bays at R800 per bay, Increases in rates & taxes, VAT - 15% Availability: Negotiable Deposit: 2 Months Rental Minimum Lease Term: 1 Year Contact Lezanne Burger from CAMDEN PROPERTY INVESTMENTS for detailed information on this property, additional options in the area or to secure a viewing! #realestate #realestateagent #realestatebroker #realestateexpert #commercialleasing #commercialbroker #commercialbuildings #commercialinvestment #commercialdevelopment #commercialproperty #commercialproperties #leasing #lezanneburger #development #developments #officeleasing #officebuildings #officebuilding #officemarket #propertymarket #propertymarketing #tolet #propertydevelopment #camdenpropertyinvestments #tolet #brokerage #property #leasing #officetolet

Today's Did You Know in Commercial Real Estate Class A Building Office buildings with a Class A rating compete for the market’s premier office users and command the highest relative rents in the local office market. Class A buildings are well-located in major employment centers and typically have good transit, pedestrian access and/or vehicular access. Class A buildings usually have high-quality finishes, state-of-the-art systems and high-quality management. Class B Building Office buildings with a Class B rating compete for a wide range of users and command rents near the mean of the market. Locations range from excellent to secondary. Finishes, systems and management range from fair to good. Class C Building Office buildings with a Class C rating compete based on their low price. The finishes, systems and management meet minimum standards. Class C buildings may be in less desirable locations relative to the needs of major tenant sectors in the marketplace. Information courtesy of the Commercial Real Estate Development Association --- LEARN MORE: www.nyccrea.com FOLLOW US: Facebook: https://lnkd.in/gqGzQetJ Instagram: www.instagram.com/nyccrea LinkedIn: https://lnkd.in/ghpstcR8 #NYCCREA #NewYork #CommercialRealEstate #Leased #Sold #DouglasEllimanCommercial #DouglasElliman #DouglasEllimanNewYork #LlorensNakos #Llorens_NYCCREA #AndreasNakosRealtor

Today's Did You Know in Commercial Real Estate Class A Building Office buildings with a Class A rating compete for the market’s premier office users and command the highest relative rents in the local office market. Class A buildings are well-located in major employment centers and typically have good transit, pedestrian access and/or vehicular access. Class A buildings usually have high-quality finishes, state-of-the-art systems and high-quality management. Class B Building Office buildings with a Class B rating compete for a wide range of users and command rents near the mean of the market. Locations range from excellent to secondary. Finishes, systems and management range from fair to good. Class C Building Office buildings with a Class C rating compete based on their low price. The finishes, systems and management meet minimum standards. Class C buildings may be in less desirable locations relative to the needs of major tenant sectors in the marketplace. Information courtesy of the Commercial Real Estate Development Association --- LEARN MORE: www.nyccrea.com FOLLOW US: Facebook: https://lnkd.in/e9qs9EE8 Instagram: www.instagram.com/nyccrea LinkedIn: https://lnkd.in/ebAEmNk4 #NYCCREA #NewYork #CommercialRealEstate #Leased #Sold #DouglasEllimanCommercial #DouglasElliman #DouglasEllimanNewYork #LlorensNakos #Llorens_NYCCREA #AndreasNakosRealtor

✨Calgary Downtown Office Market - Q3 2024 Highlights ✨ Q3 2024 brought a wave of activity and opportunities for Calgary's downtown office market. Here's the latest: ✔Despite some challenges, over 750,000 SF of leasing transactions were completed, reflecting strong interest and confidence in the market. ✔The A, B, and C Class buildings saw positive absorption of 95,000 SF, with B and C Class space removal contributing to this positive momentum. ✔The City of Calgary's Downtown Development Incentive Program added $52.5M in funding to further office-to-residential conversions, setting the stage for long-term growth and vacancy reduction. ✔The vacancy rate now sits at 28.16%, with new ownership groups actively investing in property upgrades, bringing fresh energy to Calgary’s office landscape. As larger occupiers continue to optimize their spaces and new opportunities emerge, the outlook for downtown Calgary remains bright. https://lnkd.in/gdzj6xjB #Calgaryoffice #ColliersCanada #YYCBusiness #MarketUpdate #CommercialRealEstate

Despite the impact of COVID-19 on office occupancy, a fire sale of distressed office properties in the U.S. is yet to materialize... Data from Colliers reveals a rise in the vacancy rate from 11% pre-pandemic to 17%, surpassing levels seen during the 2008 financial crisis. However, forced sales remain a rarity. Only 3.5% of office deals in 2023 saw distressed sellers, a figure that dipped to 2.7% in January 2024. Read the full issue 👉 https://lnkd.in/ey4E3BF8 Today’s issue is brought to you by AirGarage: Increase your property's NOI with full-service parking management technology. #office #distress #debt #vacany #sale #officemarket #workfromhome #realestate #commercialrealestate #credaily

Companies should constantly look to reshape their real estate around their business with a proactive and holistic plan. Today's market and economic climate creates great opportunities for tenants to maximize leverage for major savings. Historically, we have harvested 20-24% net run-rate cost reduction over a multi-year consolidation plan. What surplus opportunities exist in your portfolio?

In #Portland, for the second quarter in a row downtown office buildings have captured more leasing activity, including renewals, than suburban office buildings. (By total leased sq. ft., excluding deals under 5,000 sq. ft.)   #ClassA leases accounted for 66% of #downtown deals, 53% of suburban deals, and 60% of overall market deals. (By total leased sq. ft., excluding deals under 5,000 sq. ft.)   #Tenant activity continues to be dominated by professional services industries.   Tenant improvement #construction costs continue to be a constricting factor when tenants are considering whether to relocate or renew in place. However, leasing professionals have noted that construction material costs have come down in recent months and that higher competition between #contractors is helping to stabilize the cost of tenant improvements. As such, #landlords are hopeful that they will be able to offer more attractive tenant improvements to new incoming tenants without increasing the dollar value of their #concessions. Full Q3 2024 Portland Office Figures Report Here: https://lnkd.in/g9YgY97A

Hopefully of interest to all property professionals. A robust research analysis across the Scottish commercial and residential property markets.