Lots of New Supply Is Leading to More Concessions in the Office Sector

Competition for tenants in markets with an oversupply problem is pushing concessions higher, according to a first quarter 2018 JLL office report, which noted that while office rents grew overall by 1.6 percent in the first quarter, rent gains were outstripped by tenant concession packages. Allowances for tenant improvements (TIs) rose 3.5 percent in the first quarter to an average of $75 per sq. ft. That figure was even higher in markets where there is a lot of competition for tenants—up to $150 per sq. ft. for trophy properties.

Row DTLA Is Aiming To Be DTLA's Retail Destination.

As downtown continues its creative office and residential revitalization, especially in the nearby growing Arts District, Row DTLA is seen by some as the missing retail piece for the area to truly create an urban live, work, play and shop destination.

New Co-Working Concept To Make U.S. Debut

Described as a members club for businesses, No.18 will offer a range of curated, flexible workspace options in an upscale, sophisticated environment. No18 members will have access to a members lounge, premium private offices and dedicated desks. All members will be able to take advantage of the concierge-level services, fully equipped meeting rooms, and a luxe event area to host meetings and gatherings.

MedMen Prepares for the Future with New Marijuana Dispensary on Fifth Avenue

MedMen, which entered New York's highly regulated medical market by acquiring the licensed company Bloomfield Industries last year, is not the first to open a dispensary in a highly trafficked part of Manhattan. But it is the most vocal about its ambitions to sell to a nonmedical market once cannabis is legalized for adult use.

RepostCommercial Brokers InternationalApril 20, 2018cannabis, cannabis permits, med menComment

What Are Your Options When Ending a Lease Early?

Another side of being a broker is when a client contacts you and asks how they can end a lease early. Typically speaking a company is bound to a commercial lease, and many times there might also be a personal guarantee from one of the owners of the company. The responsibility to make payments on the lease go hand in hand with the entire lease term, in some cases for many years. So what happens when a tenant can’t make their lease payments due to changing economic times?

Opening Doors for Women in Commercial Real Estate

theRRD's Joe Killinger sits down with Sturai Yusufi of Commercial Brokers International to talk about women in commercial real estate. Sturai shares her experiences, how she broke into the field, and advice for those looking to break the cre glass ceiling. Contact: Joe Killinger (jkillinger@therrd.com) Sturai Yusufi (sturai@cbi-commercial.com)

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