BOMA Raleigh-Durham June Lunceon
This is a Members’ only event, however, we do invite local industry Property Managers to join us, so if you are interested please email [email protected] for more information. JUNE LUNCHEON …
Development
Podcasts for A/E/C Pros
If you have an A/E/C job that involves visiting clients and sites, like many people who read this blog, you probably have some time to kill in the car. Instead …
Five Trade-offs Associated with Growth
By definition, a community includes a multitude of people with a multitude of perspectives. When we discuss growth and development as a community it’s important to understand all of these perspectives.
As we grow, there is no “right way” to grow, only a series of trade-offs we make together. Or apart.
Because of the multitude of perspectives in our communities, these trade-offs won’t be evaluated in the same way, so I think discussion and awareness of the trade-offs we are making is critical.
Development Jargon: Pro Forma
You will find that any real estate investment, either development or acquisition, will involve a “pro forma” financial analysis.
How To: Add Value to a Development as a Design Consultant
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!
Development Jargon: Core Factor
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.
Development Jargon: Tenant Improvements
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.
Development Spotlight: Smoky Hollow Amenity Space
If you are ever near 421 North Harrington Street, the office building at Smoky Hollow Phase II, take a few minutes to explore the second floor amenity space.
421 N. Harrington St is a nine story Class A office building with 225,000 rentable square feet of space. The building is eight stories of office on top of the ground floor level which includes retail and the office lobby.
Construction Update: Downtown Cary
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.
How To: Go on a Photo Walk
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.