Mar 5
From CRE News and CBRE. The available amount of sublease office space in Manhattan is equal to or greater than many small office markets... Mindboggling, yet not surprising. Do you suppose office space rents are going to be coming down?
"The amount of office space available for sublease in Manhattan rose 39% since mid-year 2008 to 11.9 million square feet, according to a report issued by CB Richard Ellis. The brokerage estimates that the sublet market could grow by another 4 million square feet in the coming months. Sublease space accounts for 29% of the market's total availability, with the bulk of it coming from financial services companies. That sector makes up 25% of Manhattan's 362 million-sf inventory.
Financial services companies AIG, Bank of America/Merrill Lynch, JP Morgan Chase and Barclay's/Lehman are among those expected to add more space to the borough's sublet market in the coming months." http://is.gd/lZkh
General , Office Space , Manhattan Office Space
Mar 5
Interestingly enough, I just learned about this from a Twitter post. "@BabyStew: Jeebus. The TARP program signed a 10-year lease on office space in DC. Just how long does Obama think this recession's gonna last?" My first reaction went along the same lines. The reality is that Getting the money back from the TARP beneficiaries is going to take a really long time. Hence, the 10 yr lease
According to the Washington Post March 2, 2009
The General Services Administration said it has signed a lease for 71,000 square feet at 1801 L St. NW for use by the Troubled Assets Relief Program.
Space for TARP offices had been leased in buildings near the Treasury Department and more permanent space had been expected, according to a GSA spokesman.
About 200 people are likely to occupy the space on L Street, for which the GSA is paying about $39 a square foot.
Some brokers and developers are hoping that the program creates demand for more square footage and helps to soften the blow of a glut of office space on the market.
http://twitter.com/OfficeFinder
General , Washington DC Office Space , Office Space , Twitter
Mar 4
Social media is the new marketing hype, but is it useful in business? Twitter is one of the social networks I have been involved in over the past few weeks and I think that it has lots of potential. For those of you that are not familiar with twitter here is how Wikipedia describes it:
Twitter is a social networking and micro-blogging service that allows its users to send and read other users' updates (known as tweets), which are text-based posts of up to 140 characters in length. Updates are displayed on the user's profile page and delivered to other users who have signed up to receive them. Senders can restrict delivery to those in their circle of friends (delivery to everyone being the default). Users can send and receive updates via the Twitter website, SMS, RSS (receive only), or through applications such as Tweetie, Twitterrific, and Feedalizr. The service is free to use over the web, but using SMS may incur phone services provider fees.
I am able to monitor conversations using a tool called Tweet Beep that sends me an email daily about keywords used in conversations. I spend about 15 – 20 minutes a day on Twitter activities. The words I monitor are office space, office lease, office rental and of course my brand OfficeFinder. This allows me to respond to any Tweets that I perceive can either use my advice or could become potential business. My purpose behind Twitter is strictly business; building the OfficeFinder brand and generating business. You can find us at http://twitter.com/OfficeFinder
I have found it to be of value for several purposes:
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The community aspect of Twitter is desirable. I've discovered information that would have been inaccessible to me by other means than via tweets.
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The opportunity to share information and engage in conversation about that content is valued feedback.
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Networks can be developed through following others who in turn follow your Tweets.
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It allows me to get a quick snapshot of a particular topic, brand or product which then allowed me to tailor a message more effectively.
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Proactively it allows me to interact with my user base in a way perceived as less "salesy" way than other communications. A company voice on Twitter can be more personal and less intense than almost any other marketing vehicle.
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Twitter is a good place to increase your brand recognition.
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It is a good place to engage socially in conversation about any topic
As with all social media becoming part of the community is key. Like all social networking, it isn't about numbers it is about having the right followers and following the right people. You need to have a goal in mind as to the purpose. You should decide if it is for business or personal purposes.
The downside is that it can be a terrible time-waster. You need to monitor your use. If you are not actively engaged in conversations and doing more than just trying to sell your services, you will receive little to no value from Twitter. The more you give, the more you get.
A sample of some of my posts and replies (@) below.
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OfficeFinder: Good story on finding new office space at http://tinyurl.com/3w6seh
Tuesday, February 24th at 20:13:38 · Reply · View Tweet |
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OfficeFinder: Just made a new custom Twitter background using Powerpoint. http://tinyurl.com/5obsou
Thursday, February 26th at 15:48:15 · Reply · View Tweet |
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OfficeFinder: http://tinyurl.com/7jfeur Markus Frind works one hour a day and brings in $10 million a year.
Tuesday, February 24th at 20:03:25 · Reply · View Tweet |
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OfficeFinder: Scary look alike comparison The Office's Dwight Schrute and Markus Frind making $10 mil / yr with dating web sites. Link to follow..
Tuesday, February 24th at 20:02:50 · Reply · View Tweet |
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OfficeFinder: @FourthLine Congrats of the new office. When you are ready to grow or need alternatives, check out http://www.officefinder.com
Tuesday, February 24th at 19:56:43 · Reply · View Tweet |
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OfficeFinder: @davey_w 10 yr office lease lock in low rate to protect from incr. We know lots of way to protect you. Check out http://www.officefinder.com
Tuesday, February 24th at 19:54:18 · Reply · View Tweet |
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OfficeFinder: @ChrisFyvie error in connecting to http://tinyurl.com/agotcy ... circular. looks like it would be interesting. let me know.
Tuesday, February 24th at 19:40:27 · Reply · View Tweet |
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OfficeFinder: Twitter posts are picked up by Google. Social networking is the next key to SEO.
Tuesday, February 24th at 19:37:23 · Reply · View Tweet |
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OfficeFinder: @ikenc Can't provide assistance in Philippines, but lots of good info and tips on finding office space at http://www.officefinder.com
Thursday, February 26th at 16:08:12 · Reply · View Tweet |
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OfficeFinder: @abbyroy lots of good info and tips on finding and negotiating for office space at http://www.officefinder.com
Thursday, February 26th at 16:09:59 · Reply · View Tweet |
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OfficeFinder: @Padmasree Few of my favorite things to do on weekends walking the dog, reading the NY Times, playing tennis and talking with my adult kids.
Sunday, March 1st at 16:42:10 · Reply · View Tweet |
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OfficeFinder: @nigelramsay Landlords worldwide will need to have a reality check within the next 6 months as office vacancies will continue increasing.
Monday, March 2nd at 15:39:42 · Reply · View Tweet |
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OfficeFinder: Hong Kong & Tokyo Overtake London As World's Most Expensive Office Space http://is.gd/luWi
Monday, March 2nd at 23:05:20 · Reply · View Tweet |
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OfficeFinder: Virtual Office Space is a great addition for Home Based Businesses to create a more professional identity Find out more at http://is.gd/ldXw
Tuesday, March 3rd at 16:51:01 · Reply · View Tweet |
General , Office Space , Twitter
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