As a design consultant looking to add value to a development or differentiate your firm there are four main financial levers you can pull:
Increase revenue
Decrease expense
Increase efficiency
Compress schedule
In this post you will learn the basics of these four financial levers. If you are interested in going deeper on each lever, let me know in the comments!
If you have ever had a conversation with a leasing agent or commercial broker, you may have noticed that there are seemingly multiple different types of space being talked about when talking about renting space for a use. In this article I will talk about those different types of space and how they are all related through a concept called a Core Factor.
Once a lease is signed for a space, you will design and construct the interior finishes and systems of the tenant suite. These finishes and systems are all part of tenant specific improvements called “Tenant Improvements” or “TI” for short. The money contributed by the developer for these improvements is the “Tenant Improvement Allowance” or “TIA”. The TIA is negotiated as part of the lease negotiations.
While Cary has been on the same growth trajectory as the rest of the Triangle, historically most of that growth has happened in the suburban areas of Town. Over the last few years, however, the Downtown core has seen an exciting number of new projects delivered and currently under construction. On a recent fall day (October 12, 2022) I took a stroll through downtown after parking my car at the new Town of Cary Library Parking Deck. If you haven’t been recently, I highly recommend heading to check out what’s happening in Downtown Cary for yourself.
You would have a hard time convincing me that there is a better way to truly experience a place than from the street level at human speed.
On Sunday October 23, 2022 I had the chance to do just that as I explored West Street in Raleigh as part of the Fall DTRaleigh Photo Walk.
On October 18, 2022 The Research Triangle Park Foundation hosted a groundbreaking ceremony for The Horseshoe, the first phase of vertical construction at Hub RTP. This was the first event where I brought The Pole-Cam and it came in handy!
The LOI or Letter of Intent lays the groundwork for many real estate deals. While a LOI isn’t required it’s very helpful.
The area along 440 from Six Forks Road and Wake Forest Road currently has more active development than any other area during my time here in the Triangle. There are eight major projects led by four different development teams, and at the time of this writing, four tower cranes.
Highest and Best Use is a term that you will often hear in relation to whether or not a real estate investment should be made. Highest and Best Use is a tricky concept because the term is subjective and relative
Boulted bread has been slinging delicious breads and pastries from their ovens and custom stone ground mill in their storefront at 614 West South Street in Downtown Raleigh since 2014. They have made a lot of use and a lot of bread out of that space in the last 8 years, but soon, they will be on the move.
