Tech, Not Amenities, Key to Bringing Office Workers Back?

What will bring workers back to the office? Many companies are banking on flashy, high-end office spaces filled with amenities such as onsite cafes, fitness centers and high-tech conference centers. But a new survey suggests that these amenities might not play much of a role in convincing employees to leave their home offices.

According to a survey of 1,000 U.S. office workers commissioned by essensys, only one in five respondents said that amenities would bring them back to the office. But 63% of respondents said that technology and flexible workspaces do inspire them to work in the office.

Of those workers, 34% said they returned to their offices, at least on a hybrid basis, because they liked the convenience and layout of their office space. An additional 27% said they liked having access to multiple workstations, while 26% said they valued their office’s more reliable WiFi.

The survey also found that 81% of respondents are frustrated with their current office experiences and 52% envy the technology available in other office buildings.

“Many of the conversations we have had on the return to the office have been around investment into top-of-the-line amenity space,” said Jeremy Bernard, North American chief executive officer of essensys, in a statement. “While creating an attractive physical space is important, it’s only one part of the puzzle. Our research revealed that the real driver is access to in-office tech.”

More than half — 56% — of the 1,000 U.S. workers surveyed said that the tech in their offices enhances their ability to work.

What tech do workers want in their office buildings? Building-wide WiFi, sensor-controlled lighting and climate control and the ability to access space and services across a network of locations.

“Technology can’t be overlooked as a tool in the back-to-the-office battle,” Bernard said. “Against today’s backdrop of economic uncertainty, this can’t be, nor should it be, ignored. The modern office is completely changing. If real estate strategies don’t evolve quickly and support today’s occupiers, there will be even tougher roads ahead in the fight to remain competitive and relevant.”

Hartman’s Marketing Team Secures 3 Marcom Awards in Creative Competition

November 3, 2022 (Houston, TX)—The Marcom Awards, a global creative competition administered by the Association of Marketing and Communications Professionals (AMCP), announced three submissions by the marketing team at Hartman Income REIT Management, Inc. (Hartman), as Gold Award and honorable mention winners, for outstanding achievements in video and print marketing.

Each year, honorable mentions and gold awards are presented to a select few of the competition’s more than 6,000 applicants from over 43 countries and selected from 300 categories in print, web, video, and strategic communications. Entries receiving scores between 90-100 points are platinum winners, between 80-89 points are gold winners and between 70-79 receive an honorable mention. As one of the oldest creative competitions in the world, winning a highly sought-after Marcom award from the AMCP is well respected by all peers and communities in the marketing industry. Hartman’s marketing team was recognized for its commercial real estate leasing FAQ video, CRE insights playlist, and a whitepaper on investing in real estate during times of economic inflation.

Award winners are chosen by Marcom judges who seek out nominations of companies and individuals whose talent exceeds a top-tier standard of excellence. Hartman’s marketing team, led by Vice President of Marketing, Anthony Trollope, symbolizes both the established and upcoming talent in the marketing and communications world. The Hartman team is made up of contributions from Malori Bizzell-Johannes, Sarah Hoopes, Lace Llanora, Erik Cordero, and Judith Roque, each bringing to the award-winning team unique perspectives and focused skill sets.

Commenting on the award, Trollope shared, “receiving the prestigious recognition from our peers for the creativity we pour into our marketing is a humbling validation and a prideful moment for our team.” To learn more about Hartman or view the Hartman marketing team’s winning content, please visit www.hi-reit.com.

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About Hartman:

Hartman is a premier property management company in the Houston, Dallas, and San Antonio markets with more than 59 properties totaling over eight million square feet. Hartman has owned and operated commercial office properties since 1983, offering premium office space at attractive rates for 38 years. For more information, visit www.hi-reit.com.

Contact:
Anthony Trollope
VP of Marketing
Hartman Income REIT Management, Inc.
713.467-2222
press@hi-reit.com

Chicago Ranks 4th-largest Medical Office Market in U.S. After Houston and Dallas

Medical office buildings (MOBs) have proven to be a resilient asset class, especially throughout COVID-19. This is because most of these users require in-person treatment, providing a stable user base for the asset class. But they’re a little more complicated to build and operate than traditional office space, causing an undersupply in many markets across the U.S.—excluding Chicago.

In fact, Chicago ranked the fourth-largest medical office market in the country, according to 42Floors’ Medical Office Building Decade Report. Using information provided by CRE research and listing platform CommercialEdge, 42Floors analyzed U.S. MOB construction activity between 2012 and 2021.

Boasting an inventory of over 400 MOBs, totaling nearly 30 million square feet, Chicago grew 18% during the decade (4.3 million square feet since 2012) and is only expected to grow.

42Floors has predicted that the next few years will see three large deliveries across three markets in the Midwest: Chicago, Madison, Wisc.; and Milwaukee. These buildings will collectively add about 1.5 million square feet of MOB space to the region.

Texas is also a state to watch. Houston and Dallas-Fort Worth ranked No. 2 and No. 3 on 42Floors’ list, respectively. Houston added 4.3 million square feet of space during the decade, growing 15% to its current total of 33.2 million square feet. And DFW saw similar growth, adding 4.6 million square feet and growing 16% since 2012 to its now 33-million-square-foot footprint, based on the report.

The current market is strong across the U.S, and healthcare rents continue to grow while companies work on the issue of undersupply. Healthcare is a continually evolving industry, and businesses must be willing to adapt in accordance with current trends and patient needs. For example, OHM Advisors Principal and Partner Jennifer Carney said, following the pandemic, there’s been a demand for telehealth rooms, where the doctor can virtually visit with a patient in the privacy of their home.

“Physicians can use their exam and patient rooms for virtual appointments,” she said, “but we’re seeing planning spaces for telehealth that are smaller in size and scope.”

SVN® Expands Presence In Texas with the Addition of SVN | Veler Commercial

Boston, MA, Oct. 04, 2022 (GLOBE NEWSWIRE) — SVN International Corp. (SVNIC), a full-service commercial real estate franchisor of the SVN® brand, announces the addition of its newest franchise office, SVN | Veler Commercial, headquartered in Dallas, Texas.

Led by Managing Director Timothy Veler, SVN | Veler Commercial specializes in high level commercial real estate consulting for clients, both national and local, including acquisition/ disposition, investment sales, agency leasing, and tenant representation. Timothy Veler brings over 28 years of experience as an owner/partner of a real estate investment business focusing on commercial real estate investments, and is responsible for the acquisition, disposition, and management of privately-held and publicly-held commercial investment properties.

A strategic alliance with SVN made perfect sense for Veler, who was drawn to the organization’s unique culture and core values of transparency, innovation, and inclusivity. By leveraging SVN’s extensive network, technologies and nationwide opportunities, SVN | Veler Commercial is eager to expand their services in the Dallas area and beyond.

“We look forward to continuing to grow our services to our clients by growing our team of like minded individuals, and by serving our clients well,” stated Veler.

SVN | Veler Commercial focuses on clients’ goals to understand and fulfill their needs within market-driven timelines, and to assure efficient and professional handling of their transactions. Leasing/ownership services transactions have included Project Leasing for Prologis Inc. (local partner to global tradeTM) and LINK Logistics Industrial, as well as many local investors, landlords, and business owners.

For more information, visit www.svnVeler.com.

About SVN | Veler Commercial

SVN | Veler Commercial specializes in high level commercial real estate consulting for clients, both national and local, including acquisition/ disposition, investment sales, agency leasing, and tenant representation. SVN | Veler Commercial focuses on clients’ goals to understand and fulfill their needs within market-driven timelines, and to assure efficient and professional handling of their transactions. Timothy Veler brings over 28 years of experience as an owner/partner of a real estate investment business focusing on commercial real estate investments, and is responsible for the acquisition, disposition, and management of privately-held and publicly-held commercial investment properties.

About SVN®

The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues, and our communities. The SVN brand is comprised of over 2,000 advisors and staff in more than 200 offices across the globe in six countries. Our brand pillars represent the transparency, innovation, and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues, and communities. For more information, visit www.svn.com.

All SVN offices are independently owned and operated. To learn more about becoming an SVN commercial real estate business owner, visit //www.svn.com/franchising-opportunities/.

LinkedIn: SVN® International Corp.
Instagram: @svninternationalcorp
Twitter: @SVNic
Facebook: @SVNIC

Coltala Makes Investment in Top National Real Estate Engineering Firm

Coltala Holdings has closed the investment of Pond Robinson & Associates, L.P. (“PR&A and or the “Company”) a nationwide commercial equity-level due diligence firm, providing engineering and architectural services for institutional property owners acquiring or developing commercial real estate across the United States.

Founded in 1998, PR&A has worked with a multitude of institutional clients to acquire or develop properties for their portfolios all across the U.S.

With domain expertise in engineering, construction and architectural consulting, PR&A provides Property Condition Assessments for acquisitions and dispositions; and Pre-Development Document/Design Reviews and ongoing Construction Monitoring Services for ground-up development projects.

PR&A has 42 employees and is headquartered in Dallas, Texas, with additional offices in Atlanta, Georgia, Tampa, Florida, and Houston, Texas, with a remote workforce in major metropolitan areas such as Chicago, Denver, Los Angeles, Minneapolis, Nashville, New York, San Francisco, and West Palm Beach.

PR&A President/Managing Principal Michael Raybon and Principal Mark Petersen will continue to lead PR&A post-closing and Alan Pond, a founding member, will continue to stay on as an advisor and investor.

PR&A’s board is comprised of Coltala Co-CEOs Ralph Manning and Edward Crawford, Aldine Capital Partners Partner Chris Schmaltz, and Alta Fox Capital Management Managing Partner and Founder Connor Haley.

The Dallas-based business is currently seeking to grow organically by serving its institutional clients’ needs for growing demand, particularly in the industrial and multifamily spaces.

Austin Office Market Holds Steady in 3Q22

The Austin office market had a stable third quarter of 2022, with elevated demand but rising vacancy rates. The average rental rate jumped to over $41.00/SF, while vacancy climbed to 18.0%. The Austin market continues to see unprecedented development, with a full construction pipeline and 1.3 million square feet of construction starts in the third quarter of 2022. Annualized investment volume has decreased steadily over the year and was down 62.0% in the third quarter of 2022 at $320.8 million. Year to date, investment volume in the Austin market totals $1.66 billion. Healthy market
fundamentals and economic expansion should carry the Austin office market through the end of the year.

Rental Rates and Vacancy Climb to New Heights In the third quarter of 2022, rental rates continued to climb, and the overall rate posted $41.27/SF at the end of the quarter. Overall rates in the Austin market have increased by 3.6% year over year as landlords keep pace with demand and inflation. Both direct rates and sublease rates increased in the third quarter of 2022 to $42.19/SF and $35.20/SF, respectively. The average price discount for sublease space stands at 16.5%. Vacancy accelerated to 18.0%, fueled by construction deliveries and sublease space added to the market in the third quarter of 2022. Vacancy is likely to increase further as additional space delivers by year-end. The Class A market, which consists of more than 50% of the region’s building stock, had moderate changes in vacancy and availability quarter over quarter. Vacancy in the asset class rose 130 basis points to 17.2%, while availability also increased 130 basis points to 27.5%. Absorption remained positive in the third quarter of 2022, with a healthy 434,932 square feet taken up by occupiers. Click to read more at www.nmrk.com.