PDR - Planning, Design, Research’s Post

Are you truly maximizing your company's real estate strategy, #BostonRealEstate professionals? Picture your firm in a private, architecturally stunning space. The Westport Post Office Building in Connecticut has been standing vacant and is ready for a business just like yours. It got us thinking about the often overlooked potentials of unique and historic spaces. With #BostonRealtor hat on, it's very clear that the right workspace has a magnitude of potential impact on your business operations and your team's productivity. It can help your company stand out, retain top talent, and even inspire innovative solutions. Isn't it time we started thinking of our facilities not as a cost center, but as a competitive advantage, #BostonCondo and #BostonHome professionals? Let's shake up our real estate thinking. How is your workplace supporting your growth and brand reputation right now? What might be holding it back? If you're curious about how you might start leveraging overlooked real estate opportunities, reach out and let's chat about it. #Boston #TurcoGroup #MovemetoBoston

Great news! 🌞 Last quarter, Philadelphia surged 130 places to claim the 52nd spot among top-performing U.S. cities, fueled by robust #job and #wage recovery, particularly in professional, business services, and high-tech sectors, as noted by the Philadelphia Business Journal. Despite challenges, Philadelphia thrives as the ninth-largest U.S. office market, boasting a 15.4 percent availability rate, below the national average of 16.7 percent, underscoring its resilience. Tenants may stand to gain from generous concession packages, including rent-free periods, improvement allowances, and furnished sublease options, amidst escalating construction costs. Moreover, ample class A sublease space presents occupants with diverse choices and opportunities to secure #advantageous lease terms at competitive rates. Explore our report below for further insights into the benefits and opportunities awaiting businesses in Philadelphia: https://lnkd.in/gcFH2fEg #CresaPhiladelphia #Q1MarketOfficeHighlights #PhiladelphiaOfficeMarket #CommercialRealEstate #OfficeSpace #TenantSolutions #OfficeSublease #MarketResilience #StrategicLeasing #CRE #ConstructionCosts #ClassASpace #CREPhiladelphia

We have updated our groundbreaking review from 2021, "Fort Worth: the next Nashville?" and it's official: Fort Worth is the clear winner! While Nashville has been the darling of nearly everyone, Fort Worth remains the champ on most of the critical points investors look for in their target cities. Being part of dynamic "DFW" and having quick access to one of the top airports in the world, DFW International Airport, gives Fort Worth a huge competitive edge. Despite Nashville's big office market expansion in recent years, with six times the amount of office space added compared to Fort Worth, Cowtown's core Class A office market remains healthy and thriving with a lower vacancy rate and much higher rent growth over the past five years than Music City. While Nashville's core Class A office market is double the size of Fort Worth's, smaller is better these days, right? We remain big fans and supporters of Fort Worth. Goodwin Advisors sold the last institutional size office building back in 2022 and is currently in the market with a trophy CBD Class A office complex. #goodwinadvisors #fortworth #fortworthcre #cowtown #wherethewestbegins #classaoffice #officebuildings #cbdoffice #trophyoffice #officeisaliveandkicking Evan Stone Jason Presley Richard Stevenson Art Buser Paul Hsu Sal Torre Sean Carty

At a recent Horizon Council meeting, Cushman & Wakefield Chief Economist and Head of Global Research Kevin Thorpe revealed some exciting statistics: the Fort Myers-Naples area ranks in the top three for net absorption of office space since 2020! 🏢✨ Thorpe highlighted that this impressive surge is driven by peak attendance days and a strong focus on sectors like legal services. Our region has experienced a growth rate of 6%, outpacing the national average by 1%! This boom is largely thanks to the significant influx of businesses relocating to Southwest Florida in recent years. Read more 👇 about this dynamic growth in our region: https://lnkd.in/gi_-VvE7 #EconomicDevelopment #LeeCounty

Cities across America are thinking of new innovative ways to invigorate their downtowns in a post-pandemic world. In just a few months, the tax abatement program HR&A Advisors helped the Boston Planning & Development Agency create has garnered significant interest, with four office-to-residential conversion applications. Notably, KS Partners, LLC plans to create 98 residential units at 85 Devonshire St. and adjacent buildings, while Boston Pinnacle Properties aims for 15 units at 281 Franklin St. The incentive offers a substantial property-tax abatement over nearly three decades, encouraging developers to breathe new life into these spaces. This program aims to revitalize downtown areas while repurposing vacant office spaces post-Covid into thriving residential units. Read more here (subscription required): https://bit.ly/48tgOpW #BostonRealEstate #OfficeToResidentialConversion #BPDAInitiative Photo: Greg Ryan/Boston Business Journal

Summary of Bisnow Dublin key points! https://lnkd.in/ePXW2-q8

In push to attract residents downtown, D.C. is transforming offices into homes. Learn more on WTOP with reporting by Scott Gelman: https://lnkd.in/d6yvHPRt

In recent years, best-in-class office space has been in high demand as employers aim to attract new talent and retain current employees. This small percentage of trophy assets in a market’s total inventory are referred to as “prime” and remain the most sought-after office properties in the Midwest. On average, prime properties command higher rents and see more positive absorption than non-prime buildings. The following analysis examines non-owner-occupied prime assets in the Midwest - https://lnkd.in/gbDy_YV3 #PrimeOffice #MidwestRealEstate #CBREResearch Joshua Allen, David Ronsick

Big office move for our accountants. Read more on their recent post.

In the news recently and since 2020 is what to do with vacant office space and multiple well-known buildings in foreclosure and/or soon to be foreclosed on? There has been alot of chatter about repurposing vacant office to living (condos, apartments, etc) but not much talk about industries to support this? Why not a hybrid approach where re-developments of work/live specifically in the ever-growing tech sector. The article mentions other cities like Cleveland, Columbus, Boston where they are offering decades of tax abatements, while states like Ohio & West Virginia offer relocation credits for companies/employees that relocate their headquarters to their states. Many developers would welcome the opportunity to create a live/work development that offers both workspace and living, which also can is a solution for the RTO debate. Let me know your thoughts in the comments below! #pittsburgh #realestate #development #techsector #condos