Development Magazine Spring 2014

The Next Generation of Corporate Offices

By: Sheila Kelly Vertino, former editor-in-chief of Development magazine and a freelance writer based in the Washington, D.C., area The Next Generation of Corporate Offices

When asked what keeps them up at night, the CEOs and COOs that Oxford Properties interviewed for its “Destination Collaboration: The Future of Work” report said, “the ability of the enterprise to attract and retain top talent.” Following the eventual “silver tsunami” of baby boomer retirements comes the millennial generation workforce, a demographic group even bigger than the boomers and with an entirely different attitude about where and how they want to work.

Other Features In This Issue
exterior view of Harley Marine Services' corporate headquarters

Better Stormwater Management For a Better Bottom Line

Developers and commercial property owners throughout the U.S. are undertaking stormwater management initiatives that are making their properties more sustainable, reducing their fees and taxes and, in many cases, reducing development costs and increasing profits.      

exterior view of the Chelsea Piers Connecticut building

New Life for Obsolete Structures The Campus, Stamford, Conn.

Aging industrial and office structures throughout the U.S. offer unique opportunities for owners and developers to think creatively about adapting and reusing obsolete buildings and properties. Rather than demolishing these structures, many developers are transforming them into places that meet the needs of today’s commercial real estate markets. The Campus on Interstate 95 in Stamford, Conn., a former Clairol headquarters and manufacturing facility, is a case in point.      

stairway in the TenThreeTwenty office building

TenThreeTwenty First Potomac Modernizes Office Building

How much to invest in the repositioning of an office asset is a perennial question facing real estate owners and investors. It is especially critical in a market characterized by moderate demand. How does an owner strike the right balance? First Potomac Realty Trust tells its story about one such project.      

Advocacy

  • A Congressional Perspective: Representative Gary G. Miller

    Republican Rep. Gary G. Miller represents California’s 31st Congressional District in the U.S. House of Representatives. He is vice chairman of the Financial Services Committee and a senior member of the Transportation and Infrastructure Committee. Development magazine recently spoke with Miller about various policies and politics that have the potential to impact the commercial real estate industry in 2014 and beyond.      

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Development - Ownership

  • The Next Generation of Corporate Offices

    When asked what keeps them up at night, the CEOs and COOs that Oxford Properties interviewed for its “Destination Collaboration: The Future of Work” report said, “the ability of the enterprise to attract and retain top talent.” Following the eventual “silver tsunami” of baby boomer retirements comes the millennial generation workforce, a demographic group even bigger than the boomers and with an entirely different attitude about where and how they want to work.      

  • Better Stormwater Management For a Better Bottom Line

    Developers and commercial property owners throughout the U.S. are undertaking stormwater management initiatives that are making their properties more sustainable, reducing their fees and taxes and, in many cases, reducing development costs and increasing profits.      

  • New Life for Obsolete Structures The Campus, Stamford, Conn.

    Aging industrial and office structures throughout the U.S. offer unique opportunities for owners and developers to think creatively about adapting and reusing obsolete buildings and properties. Rather than demolishing these structures, many developers are transforming them into places that meet the needs of today’s commercial real estate markets. The Campus on Interstate 95 in Stamford, Conn., a former Clairol headquarters and manufacturing facility, is a case in point.      

  • TenThreeTwenty First Potomac Modernizes Office Building

    How much to invest in the repositioning of an office asset is a perennial question facing real estate owners and investors. It is especially critical in a market characterized by moderate demand. How does an owner strike the right balance? First Potomac Realty Trust tells its story about one such project.      

  • Coworking Centers Revolutionize the Workplace

    Coworking, a new concept emerging from a foundation of innovative workspaces that stretches back more than five decades, is revolutionizing the concept of workplace. All indicators point to the continued growth and diversification of coworking centers, which also are beginning to influence the functions and facilities of mainstream corporate workplaces.      

  • DOE's New Energy Systems Integration Facility

    Photovoltaic panels on high-performance buildings can significantly cut energy costs and carbon emissions. But distributed, intermittent renewable energy sources are a challenge to integrate with the aging U.S. electrical grid. The vital goal of a smarter, more resilient national energy system moved closer to realization on September 11, 2013, with the dedication of the Energy Systems Integration Facility in Golden, Colo.       

  • Eight Steps Toward More Functional Office Space

    Many companies have heard the siren call for open office space that allows for greater collaboration, attracts younger workers and reduces real estate costs. But before tenants take the plunge into a new office environment, building owners and architects can help them conduct a careful analysis of the way they work now and how they will work in the future. Joe Flynn, senior associate and workplace strategist at Margulies Perruzzi Architects offers the eight suggestions.      

  • From Gray to Green With an Oversized Rooftop Solar System

    For as long as I can remember, thoughts of our 180,000-square-foot multi-tenant industrial building in Toronto always evoked the color gray. Perhaps this was due to its cinder block walls; its older, squat appearance or the dust that its unsealed floors generated. Nevertheless, this “gray” building did well for us. More than three years ago, I read an article about the Ontario Power Authority offering to buy power from building owners who installed solar panels on their roofs, under a program called “Feed-in Tariff.” As landlords our curiosity was piqued.      

  • How Safe Is Your Parking Lot?

    While “going green” is all the rage, an under-the-radar safety problem in the space where parking lots meet buildings suggests that “going safe” is just as vital. The issue: vehicle-into-building crashes.      

  • Protected Bike Lanes Mean Business

    Cities are beginning to recognize that America’s love affair with cars, particularly urban America’s, is declining. One recent indication of this is the 60 applications that PeopleForBikes, a group sponsored by the bicycling industry, received in late 2013 from cities across the U.S. for the second phase of its Green Lane Project, a program that provides assistance in building protected bike lanes, also known as “green lanes.”      

  • Real Time Energy Management Pays Off

    The Natural Resources Defense Council recently published the results of a 12-month case study on an energy management and performance improvement initiative implemented by The Tower Companies in three of its large multitenant office buildings in Washington, D.C. Tower has a portfolio that includes 4.5 million square feet of office buildings, 1,500 apartments, regional malls and hotels in “eco-progressive” live/work/play communities.      

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Marketing - Leasing

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  • 10 Tips for Growing a Private, Non-Family-Owned Business

    What does it take to nurture and grow a private, non-family commercial real estate development company? Brian Coulter, managing partner at The JBG Companies, a prominent investor, owner, developer and manager of real estate properties in the Washington, D.C, metropolitan area, described how his firm handles these challenges, at NAIOP’s Development '13 conference.      

  • Back to the City: Déjà Vu All Over Again

    Through the rearview mirror of 2013, the demographic preferences that are shaping real estate’s future are coming into clear view: The emerging millennial generation is creating a strong “back to the city” movement, with the baby boomer generation as its partner.      

  • By the Numbers: Big Metros Get Bigger, Some Get Younger

    After reading the 2014 Spring issue’s cover story on changing corporate environments, we were inspired to ask whether the nation’s largest metropolitan statistical areas (MSAs) have experienced significant changes in their working-age populations. The map and table shows what we found.      

  • New Chicago Group Works to Enhance City's Position as Logistics Hub

    From a geographical and infrastructure perspective, Chicago is the foremost transportation/logistics hub in the country. But the city’s leaders, from Mayor Rahm Emanuel on down, do not like to take anything for granted, so they have formed a new group called Supply Chain Innovation Network of Chicago to help the city and surrounding areas maintain and grow their logistics position.      

  • San Francisco’s High-Tech Parking Management System

    Downtown traffic congestion is reaching serious levels in most major cities, but technology and smartphone apps are coming to the rescue — and just might make dramatic impacts on traffic volume and how we hunt for parking spaces. A case in point is the San Francisco Metropolitan Transportation Agency, which just completed and is evaluating the results of a pilot study, the SFpark program.      

  • State and Local Taxes Pose a Growing Risk for the Real Estate Industry

    Historically, state and local taxes on commercial real estate developments and their managers and investors have been fairly straightforward. Obviously, real property taxes and, in some cases, personal property taxes applied to these projects. Property managers rarely considered sales and use taxes, since real estate construction and related services usually were not taxable.      

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Finance

  • Interest Rate Impacts on Commercial Real Estate

    The capital markets environment over the past 18 months has been exceptional, given the abundance and low cost of capital. Capital has been reallocated from financial to hard assets, with commercial real estate receiving an increased percentage of investment resulting from foreign investors purchasing U.S. commercial real estate.      

  • Nuts and Bolts of Real Estate Joint Venture Partnerships

    With real estate markets across the country flexing their recovery muscles — and, in some cases, clearly booming — new cash is available for developers seeking joint venture (JV) partners to help finance their projects. But while this cash can make it easier to launch projects and attract high-quality tenants, developers need to pay close attention to the details of the partnership.      

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Perspectives

  • CEO on Leadership: Gregory St. Clair, President and COO, KFG Investment Company

    Gregory St. Clair is president and chief operating officer of KFG Investment Company, a privately owned firm based in Encino, Calif., that is focused on the acquisition and repositioning of industrial and multifamily properties as well as on the ownership and entitlement of residential land and master-planned communities.      

  • The Youth Movement: Developing Leaders on NAIOP Board Speak Out

    “The changing face of commercial real estate,” a prominent focus of NAIOP Chairman Jean Kane, is much more than a buzzworthy theme. NAIOP is committed to advancing diversity so that it encompasses more than diverse individuals, but also includes a variety of perspectives and professions within our evolving industry. Development magazine recently spoke with three women rising through the ranks of commercial real estate, all of whom are Developing Leaders serving on the 2014 NAIOP Board of Directors and making history of their own through hard work, resilience and giving back.      

  • Getting to Know Jean Kane

    As Jean Kane starts her year as NAIOP chairman, she is excited to meet the members and lead NAIOP through what she believes will be an extraordinary year of growth and opportunity. To help NAIOP members across North America get to know her, Development magazine asked her some questions about goals during her chairmanship, where the industry is headed and what she believes is most important for NAIOP members.      

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