lease: Dallas’s Largest Office Leas…Ever - 02/12/13 08:07 AM
State Farm is not shy when it comes to leasing office space in Dallas. In fact, they are on a tear. Although their official HQ in Bloomington, Illinois is supposedly not planning to move here, State Farm has amassed just over 2 million square feet of leased office space in the Metroplex in recent months. The majority of this space is in Richardson where they signed a 1.5 million square foot (SF) lease in a to-be-built mixed-use development. This is the largest office lease recorded in Dallas history, and who can blame them. It’s located adjacent to the DART Rail Bush … (0 comments)

lease: Expand Your Business Without Leasing More Space - 10/22/12 01:48 PM
Nearly everyone enjoys the success of an expanding business. More work, clients and employees allow your business to not only become more successful, but also make a greater impact on your field.
But rent is expensive. It's usually the 2nd-highest expense for most companies. Wouldn't it be great is you could grow your business without taking on the financial burden of expanding office space?
Well there are several simple and cost-effective alternatives to expanding which can be implemented within the perimeters of your existing office.
Rearrange. It seems simple enough, but you’d be surprised how much more efficient … (1 comments)

lease: Office Leasing Booms in Third Quarter - 09/27/12 03:13 PM
According to the latest stats from Cushman & Wakefield as reported by D Real Points, net absorption of office space n the DFW area for the third quarter alone is a positive 2 million square feet. That's incredible. Net absorption is the net change in occupied space.
If the total occupied space goes from 300 million square feet to 302 million square feet, that would represent 2 million square feet of positive absorption. This is the best indication of market demand for office space.
Overall leasing activity (total leases signed) was over 10 miilion square feet, but much of that was renewals … (0 comments)

lease: Back to Costar - 09/14/12 09:35 AM
Costar is a commercial real estate information platform to which i just subscribed again. It is by far the largest and most accurate database out there. They list every office, industrial and retail building available for lease in the Dallas Fort Worth area plus tons of other markets throughout the country. They list hundreds of thousands of properties for sale throughout the country. They verify this data with their own researchers instead of just relying on the listing brokers to keep things accurate (that will never happen). They list tenant information and sales comps.
But all that information and power comes … (2 comments)

lease: Knowledge is POWER! - 08/15/12 08:01 AM
The more imbalanced the knowledge in a negotiation, the more the side with greater knowledge can take advantage of the other side.
So many times in life we try to do something ourselves because we're too cheap to pay an expert. That's why the floor tile is crooked in my bathroom and the faucet at the kitchen sink is loose. Sure I can do it, but can I do it well and without a lot of education and practice.
It's the same in business. What am I doing myself that I should be paying someone else to do? Website? Marketing? … (0 comments)

lease: Help! I’m Running Out of Space - 07/09/12 06:46 PM
You’d be amazed at the number of commercial tenants that run out of space well before their lease term runs out. There are few things that are more chaotic to a business operation than having to work out of multiple locations because of poor planning. That’s why it’s vital that you plan for your growth before you start looking for space.
There are three keys to ensuring that you don’t run out of space before you run out of lease term.
The first key is to conduct a comprehensive needs analysis. And while this might seem obvious, the real question … (0 comments)

lease: The American Business Mantra – Do More with Less - 06/07/12 02:36 PM
Feeling tired and overworked? According to a study by the National Sleep Foundation, the average employed American works a 46-hour workweek and 38% of the respondents worked more than 50 hours per week. 
You may be surprised to learn that this contributes to commercial tenants paying far too much when they renew their leases. This can happen when renewing a lease becomes a ‘check box’ item on a To Do list without leaving adequate time to consider the most important negotiating factors.
Being overworked and having too little time are not the only reasons tenants can overpay when renewing their … (2 comments)

lease: Confessions of a Recovering Landlord - My UVP - 04/26/12 09:06 AM
The name of my blog has changed. It used to be called The REATA BizBlog because that name combined the name of my company with the fact that it's a blog about business. Makes sense. 
But then I was at a networking function a few months ago and I opened my introduction with "Hi my name is Bob and I'm a recovering landlord" clearly spoofing Alcoholics Anonymous. There was no intent to make fun of AA, of course. But it seemed to really spark a reaction in people. They seemed to chuckle and then pay more attention to what I said … (0 comments)

lease: Managing Growth in Your Lease - 03/15/12 01:08 PM
Growing companies often face a dilemma when a landlord requires a 3-5 year lease. Lease only the space they need today and risk not having the space they need as they grow. Or lease more space than they need now betting on the growth that then doesn't occur.
So what to do? The best way to handle this dilemma is to sign a lease for the space they actually need now to take care of the immediate need and include an expansion provision. Expansion provisions come in a variety of forms:
Expansion Options
Rights of First Refusal (ROFR)
Right of First … (0 comments)

lease: Marketing 101 - Know Thy Ideal Referred Client - 01/05/12 09:47 PM
Most of my business comes from referrals. From past clients. From members of networking groups of which I'm a member. Occasionally, from other real estate agents - both commercial and residential.
Referrals are great. I rarely have to compete with other brokers for the business because the prospect already knows I'm qualified, competent and trusted. So I'm clearly a great fit for them.
But are they a great fit for me? Watson, we have a problem....maybe.
As a Corporate Real Estate Advisor or tenant representative, I represent companies which lease commercial space for their company use. My ideal client is a … (5 comments)

lease: What Do You Think of LinkedIn? - 11/17/11 02:37 PM
People are constantly talking about Facebook, Twitter and YouTube. But what about LinkedIn? That's where business is supposed to be done, right? While I want to keep up with my friends, I really want to drive more sales. So why isn't LinkedIn more popular and talked about? 
I ran across an article from BusinessInsider.com through a link on LinkedIn of all places called How Linkedin's Lousy Sex Appeal Could End Up Killing It. You can read the whole article here: http://www.businessinsider.com/heres-the-no1-problem-at-linkedin-right-now-lousy-sex-appeal-2011-11.
So what do you think about LinkedIn?
Do you use it to prospect for new business or keep up with client … (46 comments)

lease: The Effects of a Bad Economy on Leasing - 10/24/11 05:31 PM
So the economy has been bad for 3 years now. What has been the impact on office leasing?
There are a few trends that have become apparent.
First, tenants are trading up to nicer space. When rental rates fall companies often move into higher class office buildings for close to the same price as they have been paying in lesser buildings. I have seen this occur in previous recessions as well.
Second, while they may be moving into nicer buildings, they aren't leasing excess space betting that their company will grow.
Third, when signing new leases most companies are using their … (0 comments)

lease: Business Generation - Cold, Internet or Referral? - 10/10/11 08:35 PM
So what's the best way to get new business? By new, I mean new clients with whom you haven't worked before. 
In my business as a Corporate Real Estate Advisor (tenant rep), my ideal clients are companies which already lease office space in the Plano/Dallas area. Most of my competitors make tons of cold calls - especially agents new to the business. I haven't spent much time cold calling because it just seems to annoy people and reduce my chances of actually getting the business. Now it's entirely possible that I haven't done it enough to really test it properly.
Occassionally, I … (0 comments)

lease: Professionals instead of Parasites....Please! - 10/03/11 06:22 PM
A strange thing happened to me today. But first a little background. 
I received a call on Friday from a woman starting a new business. She had been working with an agent at a reputable company, but she wasn't confident that the agent was experienced enough to negotiate the lease document itself. She spent a long time on the phone with me asking questions and getting advice which I was happy to give. 
But then she asked me if I would review the lease document for her for an hourly fee. That I could not do, of course. I told her … (34 comments)

lease: Plan for the Unexpected - Tour Horror Story - 07/08/11 06:29 PM
One of my corporate clients is growing quickly and plans to expand the office space they lease by about double. I had scheduled to show a sublease space in Richardson to him earlier this week. He had to cancel due to a client meeting of his own, but I told the agent listing the space that I'd still like to preview the space and take pictures to send to my client. He agreed and we met at the space which was not occupied.
As the agent and I were walking to the space in the office building, I was telling a … (5 comments)

lease: Top Tips for Negotiating Commercial Leases - #12 Get a New Base Year on Renewal - 04/11/11 05:57 PM
Many companies renew their leases without engaging a professional tenant rep. Their logic is usually something like, "I know my landlord and trust him. We have been in the building for years so I don't see any reason to get a tenant rep involved and potentially get in the way of that good relationship. Besides, maybe the landlord will give me a better rental rate if he doesn't have to pay a commission."
That sounds logical, but in 27 years in the business I have never seen that actually work out to the tenant's advantage. Even in situations where the landlord … (0 comments)

lease: Top Tips for Negotiating Commercial Leases - #10 Engage an Attorney - 03/09/11 02:31 PM
You wouldn't go to court without an attorney, but you are likely to end up in court a lot faster if you don't engage an attorney when drafting legal documents. More importantly, if you don't use an attorney when negotiating the lease language, your lease will be one-sided and heavily weighted to the landlord's advantage.
Leases are generally written by landlords and you have to use the landlord's form or they won't lease you the space. Only in rare situations with extremely large companies will landlord's agree to use a lease form of the tenant's chosing.
So engage an attorney … (0 comments)

lease: Top Tips for Negotiating Commercial Leases - #9 Talk to Other Tenants in the Building - 03/02/11 08:05 PM
Okay, so you found a building you really like and you have negotiated what you think is a pretty good deal....or your tenant representative has done that for you. So now you are ready to charge forward with the lease itself so you can get the construction done and move in. Right?
Wrong.
You should talk to some of the other tenants in the building. Or at least be sure your tenant rep does. It’s important to know what the current tenants think of the building and the landlord. How are they being treated? How does the landlord maintain the … (1 comments)

lease: Top Tips for Negotiating Commercial Leases - #5 Create a Bidding War - 02/07/11 06:44 PM
Scarcity is the basic economic problem that arises when someone has unlimited wants but limited resources. And guess what? Tenants are the resource that landlords want the most. I don't care if you are in Dallas, Plano, Frisco, Richardson or Tokyo. Landlords are the same. Tenants create value in their buildings.
So it's important to create a bidding war for your business. This requires that you have several lease alternatives (real or perceived) and that all landlords know that other options exist. Get proposals from each. Talk to them about certain features of other proposals you have been able to get. Even … (2 comments)

lease: 2009 Office Demand Falls Sharply from 2008 - 01/13/10 05:32 PM
 
A report from Cushman & Wakefield reported that DFW office occupancy fell by 2 million square feet in 2009 and total leasing activity was down 43 percent.  Not surprising given the current economic situation, I know.
But like in most cities, there are winners and losers within the greater metropolitan area.  Buildings along LBJ Freeway and downtown Dallas were hit hard with lots of tenants moving elsewhere or just closing their doors.  The big winners were Plano and Frisco because those submarkets are close to where people live.
Quoted rental rates didn't change much though.  This seems odd when demand … (0 comments)

 
Bob Gibbons (REATA Commercial Realty, Inc.) Rainmaker large

Bob Gibbons

Plano, TX

More about me…

REATA Commercial Realty, Inc.

Address: 2108 Merksem Court, Plano, TX, 75025

Mobile: (972) 984-8580

Office: (972) 468-1946

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Anything and everything related to corporate real estate - a company's use of real estate. This is usually a company's lease or purchase of office, warehouse or retail space.


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