The NAR quarterly forecast reports that all commercial real estate sectors are on the upswing. Their predictions include that the US office space vacancy will decline by 0.4% to 16% by the 1st quarter 2013. According to the report, office rents are expected to rise by 1.9 percent this year and 2.4 percent in 2013, with net absorption predicted to hit 20.1 million in 2012 and 28.1 million next year. More...

Washington, DC, currently has the lowest office space vacancy rate at 9.5%, with New York City in second place at 10% and, surprisingly, New Orleans at 12.4%. More Office Space Market Information.

What this means to office tenants is that now is the time to lock in long term rental rates to ensure you benefit from the bottom of the market. The best way to do so is by engaging the services of an office tenant representative who can show you how to take advantage of the current low office rental rates. There is no cost to tenants to obtain the services of a tenant rep, so there is no reason not to investigate what they can do for you. It is a no lose proposition.

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Space planning is the analysis and documentation of a business’s current and/or proposed facility.  The purpose may include any of the following:

• Improve work flow
• Determine if a new space or building will accommodate a business’s current and future needs
• Improve communications between employees and/or departments
• Satisfy emergency exiting and Americans with Disabilities Act requirements
• Creation of employee lounge spaces
• Adding work spaces
• Implementation of the latest workplace technologies
• Creation of teaming spaces

Completed space plans are used in all aspects of implementing the reconfiguration or relocation of a business.  Trades that require accurate space plans include contractors, flooring vendors, painters, electricians, computer and phone cabling vendors, HVAC contractors, IT professionals, lighting contractors, furniture vendors, movers, furniture installers and cabinet makers.

Space planning services offered by landlords aren’t always in the best interest of tenants.  The space planning firm is being paid by the landlord and typically is looking out for the best interest of the landlord and not the tenant.  Tenant square footage requirements can be exaggerated and can result in tens of thousands of dollars in extra lease costs each year.  Considering the radical changes in how work is taking place, with the implementation of touchdown and hoteling work spaces, the amount of square footage required by a company in today’s work environment can be greatly reduced through proper space planning.

Written by the designers at officespaceplanners.com, providing space planning throughout the USA since 1988.

One of our members has a side project . It’s called “The Loadmaster” – an airplane designed specifically to serve the world needs.  A tool to support others in bringing much needed help to remote areas of the world. A very worthwhile project, in my opinion.

This short video will show you what they are doing … one picture is worth a thousand words.

Maybe you will even decide to help out.  If you can, it will be much appreciated.  Just click on the green “Back This Project” button to the right of the video. 

Oh … and feel free to share this with your friends.

Here’s the video:  

Loopnet put together a very good info-graphic (below) on leasing vs. buying trends in commercial real estate. It is very interesting from the prospective tenant’s viewpoint as they lease new or renew space for their business or decide to buy a building to house their business. While it does us a lot of averages, it is a good overview of what has been happening recently in the commercial real estate markets in the US. In particular, over the past two years rental rates have only dropped 3% while sales prices have dropped 15%. It is my opinion that now is a good time to hit the bottom of the market in either signing a long term office space sales or buying an office building for your business. More on Lease vs. Buying office space to help decide if it would be a good or bad move for you.

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