Monday, August 27, 2012

Smaller and More Collaborative: The Changing Face of Office Space


ATLANTA, GA (Aug. 27, 2012) – Fueled by the design preferences of Millennials, the rise of telecommuting and continuing economic concerns, U.S. office tenants are opting for smaller spaces that promote more collaborative work environments.

 That was the observation of show host Michael Bull (top right photo) and his guests on the most recent episode of “America’s Commercial Real Estate Show,” which took an enlightening look at the office-use strategies of Corporate America, as well as some of the common mistakes office tenants make.

 “From a utilization point of view, everything’s running about 25 percent [smaller] than it did in the past,” said Rick Ferguson (top left photo), vice president, corporate office services for Bull Realty. “If someone had a 10,000-square-foot office space, it’s now 7,500 square feet.”

 “What we’re seeing is a tremendous push towards more space compression … and a real focus is to get that collaborative environment,” added Scott Panzer (middle right photo), a New York-based vice chairman of Jones Lang LaSalle.

According to Panzer, financial service firms, which once typically sought 250 square feet of office space per employee, now seek 205 square feet for each worker. Media and advertising firms have similarly decreased their requirements, he said.

 “The Googles of the world, they’re already [at] one person per 100 square feet,” Panzer added.

 The use of hoteling (providing office space to workers on an as-needed basis rather than permanently reserving space for a particular individual) to reduce overall space demands has become a significant trend in recent years, said Bob Chodos (lower left photo), a principal with Colliers International in Chicago.
“In the last 72 hours, I’ve had two companies ask me these questions: ‘Why is that I can walk around my space and see all these empty offices when people are traveling [to be with] our clients? What can I do to be more efficient?’” Chodos said.

Waiting until a lease expiration is fairly close before beginning negotiations for the next lease is a common mistake tenants make, said Richard Rhodes (lower right photo), managing principal with Cresa Bethesda.

“I’m working on two transactions now that have five years left where we are renegotiating the rent downward and extending the leases for [another] five years,” he said. “Had we not been at that point, that opportunity would never have presented itself. The more time you have [remaining on a lease], the more leverage you have, especially in a soft market.”

“I’ve seen that mistake as well, where tenants don’t have enough time, and they can’t negotiate from a position of power because they’ve started the deal too late,” said Michael Bull, president and founder of Bull Realty.

 The entire episode on corporate office tenant strategies is available for download at

 The next “America’s Commercial Real Estate Show” will be available Aug. 30 and will examine the top college real estate programs.


Stephen Ursery
Wilbert Public Relations
Office: (404) 965-5026
Cell: (404) 405-2354

Voit Real Estate Services Directs Six Transactions Totaling 50,000 SF of Office Space in Greater Sacramento, CA


 Sacramento, CA (Aug.  27, 2012) – Voit Real Estate Services’ Sacramento team has directed six office transactions encompassing 46,937 square feet in the greater Sacramento market.

          “We have seen an increase in transaction activity in the Sacramento office market over the past 12 months,” said Jon Walker (top right photo), a Senior Vice President in Voit’s Sacramento office.

 “Owner/users are especially active in the buying market, as they take advantage of competitive pricing on higher quality properties. Also, as predicted, medical office tenants are leading the demand for mid-sized office product in the Roseville/Rocklin submarket.”

Transaction #1

         Jon Walker and Tom Bacci (middle left photo) of Voit’s Sacramento office directed a 20,880 square-foot office lease at 1025 Creekside Ridge Dr. in Roseville, Calif. (top left photo)  Jon Walker represented the lessor, RREEF Real Estate, a company that specializes in institutional asset management.

          The lessee, Adventist Health System/West, a faith-based, not-for-profit, integrated health care delivery system, was represented by  Bacci.

Transaction #2

          Voit Real Estate Services completed a new 9,901 square-foot office lease in Roseville, Calif. on behalf of the lessee.  Jon Walker of Voit’s Sacramento office worked with Jon Boland (middle right photo) and Mark Caston (lower left photo) of Voit’s San Diego office to represent Inc. as the lessee.  Boland and Caston represent nationally. 

 is a residential financing company which provides an array of mortgage products and has over 50 locations throughout the Western U.S.  The company will use the space for its local operations.

          The lessor, Olympus Corporate Center, LP, was represented by Scott Rush of CBRE. The property is located at 3013 Douglas Blvd, Suite 205 and 210 in Roseville, Calif.

  Transaction #3

          Robb Osborne (lower right photo) of Voit’s Sacramento office completed the $1.495 million sale of a 7,000 square-foot office space located at 990 Reserve Dr., Suite 102 in Roseville, Calif. Osborne represented the seller, 990 Reserve Drive, LLC, and the buyer, 990 Reserve Drive Real Estate, LLC, in the transaction.

Transaction #4

          Voit’s Sacramento team directed the owner/user sale of a 3,650 square-foot office building located at 902 Cirby Way, Building C in Roseville, Calif. for a total consideration of $614,000. Jon Walker and Tom Bacci of Voit’s Sacramento office represented the seller, Wells Fargo Bank.

The buyer, KC Ventures, plans to use the space as a pediatrician office.  KC Ventures was represented by Nathan Bragg (bottom left photo) of Remax Commercial. 

Transaction #5

          Jon Walker of Voit’s Sacramento office completed a new, five-year, 3,500 square-foot office lease in Rocklin, Calif. Walker represented the lessee, Dr. Sunnie Skiles, a local pediatrician who will use the new space for her practice.

          The lessor, Harragon Trust, was represented by Scott Rush of CBRE. The property is located at 6815 Five Star Blvd., Suite 100 in Rocklin, Calif.

Transaction #6
  Voit’s Sacramento office completed the $200,600 sale of a 2,006 square-foot office condo in the VCC Rocklin business park. Robb Osborne, a Senior Vice President in Voit’s Sacramento office, represented the seller, LB-VCC Rocklin LLC.

          The buyer, BCT Williams LLC, was represented by Jon Walker, a Senior Vice President in Voit’s Sacramento office.

          The property is located at 5724 Lonetree Blvd. (bottom right photo), Unit 202 in Rocklin, Calif.


Jenn Quader/Judith Brower
Brower, Miller & Cole
(949) 955-7940

J. Edward Sauter Receives Prestigious Robert D. Sawyer Award for 2012

Mt. Vernon, IA – During it’s Annual Convention in Acme, Michigan, J. Edward Sauter (top right photo), current Executive Director for the Concrete Foundations Association (CFA) – a North American association dedicated to improving the quality and acceptance of cast-in-place concrete foundations –  was awarded the Robert D. Sawyer Distinguished Service Award.

 The Annual Convention was held July 25-27, 2012 at the Grand Traverse Resort.

 Previous recipients Barry Herbert (middle left photo) of Herbert Construction (2009) and Scott Smith (lower right photo) of MPW Construction Services (2010) recognized Sauter as this year’s recipient.

“Ed’s devotion to the CFA is perhaps most apparent when you look at what the organization was when he became Executive Director twenty years ago”, states Barry Herbert. 

“The association was in severe disarray, money was scarce, membership was declining, and the continuing existence of the CFA was in question.  His professionalism became immediately apparent, and in the next few meetings it became evident that he was the right choice for the job.  Ed’s commitment and hard work had the association back on its feet and thriving in no time.”

For a complete copy of the company’s news release, please contact:

Jim Baty

LYND Acquires $200M of Unpaid Principle Balance in Distressed Multifamily Assets

 San Antonio, TX— (Aug, 27, 2012) — LYND, a national real estate investment, development and management company specializing in the multifamily sector, is continuing with its strategy of investing in distressed real estate.

 Most recently, the firm partnered with Florida Value Partners (FVP), based in Miami Lakes, Florida, to acquire a portfolio of 11 multifamily properties in a court-appointed receivership sale brokered by CBRE. The original loan balance was $200M. The purchase price was not disclosed. 

 “This pretty much followed the model of similar transactions we’ve made over the last couple of years,” said A. David Lynd (top right photo), LYND’s president and COO.

“Sellers recognize us as a serious buyer because we know the multifamily business very well, we’re well-capitalized and are real closers. We continue to seek opportunities that align with our investment strategy of acquiring value-add properties where we can effectively use our operating platform to create returns.”

 The multifamily properties, a total of 3,241 units, are located in seven states: Florida, Georgia, South Carolina, Texas, Virginia, California and Colorado.  They were built between 1972 and 2000.  The strategy for the newly-purchased portfolio is to perform a substantial rehab to the properties and hold them for several years.

For a complete copy of the company’s news release, please contact:

Media Contact:

Todd Templin
Boardroom Communications
954-370-8999 or 954-290-0810

 Lynd Contact:
A. David Lynd, President/COO

 Florida Value Partners Contact:
Gus Alfonso, Managing Partner

Marcus & Millichap Arranges Sale of Bryan Dairy Place Apartments in Largo, FL for $4.9 Million

LARGO, FL, Aug. 27, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Bryan Dairy Place Apartments (top left photo), a 96-unit multifamily property located in Largo, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $4,985,000.

Michael P. Regan (middle right photo) and Francesco P. Carriera (middle left photo), vice presidents investments, along with Nicholas Meoli, a multifamily specialist, all based in Marcus & Millichap’s Tampa office, represented the seller, a financial institution from Kansas.  Carriera and Regan also represented the buyer, who is based out of Florida.

Bryan Dairy Place Apartments was built in 1986 and is located at 6701 Bryan Dairy Road North.  The property consists entirely of two-bedroom/two-bathroom units with approximately 925 rentable square feet. 

“We were able to generate multiple offers within the first several weeks of marketing and were successful in creating a competitive market for the asset” comments Regan.  “The amount of activity we had confirms that investor interest in ‘B’ quality assets remains extremely strong.”

Press Contact:

Richard D. Matricaria
Regional Manager,
(813) 387-4700

NAI Realvest Negotiates $1.2 Million Sale of Four-acre Site to City of Clermont, FL for New Police Station

ORLANDO, FL— NAI Realvest recently negotiated the $1.2 million sale of a four-acre parcel at the southwest corner of Hooks Street and Citrus Tower Blvd. in Clermont.

 NAI Realvest Broker Associate George Viele (top right photo) negotiated the transaction representing the seller, DeWitt Enterprises, Inc. of Winter Garden.  

 The City of Clermont purchased the property to build the new Clermont police station.   

For more information, contact:

George Viele, Broker Associate, NAI Realvest 407-875-9989
Patrick Mahoney, President, NAI Realvest, 407-875-9989
Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142

Baymont Inn & Suites Salutes “Noteworthy Neighbors”

PARSIPPANY, NJ– Honoring the selfless work of their guests, the Baymont Inn & Suites® hotel brand announced the winners of “Noteworthy Neighbors”, a Facebook-based contest and sweepstakes designed to recognize the notable deeds of people who are a positive influence in their community.

Baymont Inn & Suites’ most noteworthy neighbors are Mike Groesbeck of Port Saint Lucie, Florida; Michael and Alison Schuchs of Fulton, Mississippi; and Marcus King of Platte, South Dakota.

Three months ago, Baymont Inn & Suites launched the contest looking to celebrate people who embody its hometown hospitality philosophy.

Baymont Inn & Suites fans were able to nominate worthy members of their communities on the brand’s Facebook page by describing the positive impact their nominees have made in their hometowns.

The three entrants and their nominees were chosen by a panel of judges and each will receive a $1,000 prize.

For a complete copy of the company’s news release, please contact:

Joy Gulledge
Public Relations Manager
Wyndham Hotel Group
22 Sylvan Way
Parsippany, NJ 07054
+1 (973) 753-6590