Marketing Leasing

Terms and Definitions

The 2017 edition of NAIOP’s terms and definitions remains the place to turn to for standardized of industry terminology.

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Preferred Office Locations: Comparing Location Preferences and Performance of Office Space in CBDs, Suburban Vibrant Centers and Suburban Areas

Preferred Office Locations

Where do today’s office tenants want to be located? This comprehensive study, which combines expert opinion and accurate property-level data, provides reliable information about emerging location preferences across major U.S. office markets and the comparative performance of office space in CBDs, suburban vibrant centers — defined as amenity-rich, mixed-use, “live, work, play” locations — and typical single-use suburban areas.

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Spatial Penetration and Performance of LEED Ratings & Certification Levels Among Office Buildings

Spatial Penetration and Performance of LEED Ratings Certification

This paper focuses on class A and B office buildings across the U.S. with 50,000 square feet or more and has a threefold goal: i) provide an overview of the office building distribution among the ratings and certification levels from the inception of the USGBC until today; ii) examine the spatial penetration of the ratings and certification levels across the mainland U.S. states and iii) examine closely the rent and vacancy performance of LEED-EB before and after their designation while controlling for the latest financial crisis.

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The Commercial Office Market and the Markup for Full Service Leases

Commercial Office Market and the Markup for Full Service Leases

Because landlords assume all of the operating expense risk, rents for gross leases exceed those for triple-net leases. The markup for gross leases varies between properties and across markets. In this study, we develop a theory explaining the spread between gross and triple-net rents for office space across urban markets. A multi-stage model is developed with the first stage estimating triple-net rent through its proposed determinants. Stage 2 uses the estimated coefficients from the triple-net rent equations to generate expected rents for gross leases with which we estimate the gross rent markup for each property.

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Effect of Past Crises on US Downtown Office Property Income and Expenses

Effect of Past Crises on US Downtown Office Property

Economic, real estate, oil and other crises can cause significant lack of confidence and recessions, which eventually affect office markets. This paper studies past crises and their effects on downtown office market trends across the U.S. and is pivotal in the estimation of current short and medium-term market responses.

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Predictors of Commercial Real Estate Development

Predictors of Commercial Real Estate Development

This research identified the economic indicators that drive new development of commercial real estate for each property type at the national and MSA level. These indicators will help with forecasting: future demand for space and leasing; competition in specific markets and across property types; and more accurate feasibility studies for future projects.

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Mixed-Use Price Premiums

Mixed Use Price Premiums

This research report answers the question, "Does one square foot of office or retail in a mixed-use development garner higher rents per square foot than a comparable product in a single use development?" Eight office markets in the Southeast and Midwest were studied with mixed results.

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