HM Blog
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The Lease Renewal “Loyalty Premium”
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Commercial real estate is an inefficient marketplace. It is also a bit of a relic, unchanged in the last hundred years and largely dominated by landlords and their brokers, which has resulted in an industry where long-term, loyal, repeat customers are repeatedly expected to pay a premium. I call it a loyalty premium. The mechanism…
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To paraphrase Dr. Seuss, oh the games that landlords will play. Building measurement is one of those games. It is a complicated subject, to be sure. In this paper, I will hit the basics including BOMA, the changing BOMA Standard over time, a few key concepts and phrases and the latest strategies landlords are using to grow their buildings and…
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CBRE Group is the world’s largest “full service” commercial real estate services firm, with 70,000 employees in 400 offices and 2015 annual revenues of $10.9 Billion. Truly impressive. And problematic. You see, CBRE’s business model is to serve both property investors and the companies that occupy those investment properties. They want to represent the buyer and the seller, the landlord…
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Finding the best deal when leasing commercial real estate demands strategy. You might be a poker player who knows how to hold your cards close to your vest. Or, you may be something of a chess master, always thinking three steps ahead. Those strategies are key—but neither is more important than knowing how to read “leasing microclimates.”
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In the 2010 movie “Knight and Day” starring Tom Cruise and Cameron Diaz, one of the most memorable scenes is when Tom Cruise’s character tells Cameron Diaz’s character that her life expectancy is much higher with him than without him. Cruise uses his hand and sharply cuts the air in front of her at her waist level saying “without me”…
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Recently I had the honor of serving on a CLE panel for the Orange County Bar Association alongside fellow attorney David Wensley, managing partner at Cox, Castle & Nicholson, and my colleague at Hughes Marino, commercial real estate broker Tucker Hughes. We were invited to speak to the audience of 50+ attorneys regarding various issues in the current – and…