Author: David Marino
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The Art of Subleases—Risks, Tips & Landmines
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By David Marino As we emerge from the shelter in place order, many companies will find themselves with excess space or facilities that they no longer need. Certainly, a good portion of the millions of layoffs over the last few months were office and manufacturing workers whereby many companies simply will not need the amount…
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Is a $1.50 rent less than $2? The answer would be an obvious “yes.” But you probably guessed this is a trick question, and there are a lot of tricks in the business of commercial real estate. The biggest trick in the book is to confuse the commercial real estate tenant — the ultimate consumer of the space. While it…
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For almost two years, there have been headlines in the financial press speculating of a “second shoe to drop” in the stock market. The writers note that hundreds of billions of dollars of commercial real estate loans will come due, speculating that this will trigger massive foreclosures, further crippling the banking system, and thus causing a “second shoe to drop”…
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“Wet lab” space is used by the biotech industry for vital research and discovery purposes (picture your high school chemistry lab on steroids). Most of the region’s wet lab facilities are clustered in Torrey Pines, spreading out to Sorrento Mesa, Sorrento Valley and UTC, with a smaller amount in Carlsbad to support the handful of biotech companies in North County.…
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Many people think that commercial real estate articles are just for business owners who need to lease space, or for rich investors looking to buy buildings to get further richer. Not in our world, where commercial real estate has become a topic that has broad application and appeal. If you have a retirement account, you likely own public real estate…
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Commercial real estate demand is a leading edge indicator of changes in the job market and the economy. Companies need more office space only when they intend to hire more people. Biotech, manufacturing and industrial companies need more space only when they intend to launch additional R&D programs or ramp up manufacturing activities requiring facilities for materials, work in process…
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The real estate market’s effect on businesses, big and small, is undeniable. When San Diego sees major changes in affordable commercial space, the economic impact is far-reaching. “Building sale prices are at historic highs, as are asking rents, but the leases we are getting done haven’t changed much, materially, from 2005 and 2006,” says David Marino, principal with The Irving…
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When searching for commercial real estate space, CEOs have been taught that vacancy rate indicates how soft the market is. “But vacancy rates are not what they appear to be,” says David Marino, principal and executive vice president of The Irving Hughes Group. “We need to stop talking about vacancy rates and start talking about availability rates. Availability rates will…