Total Awareness: TenantSee Market Diagnostics Help Tenants See the Big Picture

Total Awareness: TenantSee Market Diagnostics Help Tenants See the Big Picture

You signed a 10-year lease 7 years ago. Since then, the market value of your space has more than doubled. At this pace, you’re looking at a huge price increase in 3 years. What should you do? Today in the San Francisco Bay Area marketplace, this is the single most common discussion we have with tenants. Since our approach to this question is always the same, we thought it made sense to describe it here today. The question “What should we do?”, is really comprised of 3 questions.

Market Outlook Q2 2019 - Tenant Perspective

Market Outlook Q2 2019 - Tenant Perspective

This San Francisco office market report is provided

compliments of TenantSee. TenantSee is a tenant real

estate product combining a team of subject-matter

experts with powerful technology to make tenant

real estate smarter, faster and better. Our report is

intended to provide you, the tenant, with meaningful

insights, not raw data.

Data Platform TenantSee Strives to Put Decision-Making Power in the Hands of Tenants

Data Platform TenantSee Strives to Put Decision-Making Power in the Hands of Tenants

For many companies, the process of finding new office space and executing a lease can be daunting, even with the help and insights of a broker familiar with the market. Traditionally, the brokerage and transaction process has remained largely the same over the years, with tenants relying on the knowledge of others in the industry — brokers, landlords, contractors — to help them make the most informed decision when selecting a new property. For Greg Fogg, one of the founders of TenantSee alongside Samantha Low, this was a fundamental problem for tenants seeking space. Those at TenantSee realized many companies started their search for space with little direction and few established parameters despite the myriad of service lines offered by brokerage firms, making the entire process more time consuming and costly. From these observations TenantSee, a tenant real estate product offering, was born in an effort to create a new brokerage-based service model, allowing tenants to make more informed decisions before they sign a lease.

The Future of Office Buildings

The Future of Office Buildings

The playbook for speculative office development hasn't changed in years. It centers on quality location, architecture and project amenities; all viewed through the lens of cost to build and projected return on investment. Attention is paid to design details relating to the floor plate, core areas, building systems, project amenities; and, generally, all facets of the core and shell. But the analysis stops at the tenant's front door. At that point, landlords tend to shift their focus to market-based estimates of the total tenant improvement contribution necessary to attract tenants. Today market factors, notably, co-working and prop tech, have emerged that create an expectation among occupiers that their occupancy can ultimately be understood in terms of data. This trend will continue.

Filling The Knowledge Gap: TenantSee Gives Tenants Data, Insight For Leasing Decisions

Filling The Knowledge Gap: TenantSee Gives Tenants Data, Insight For Leasing Decisions

PropTech continues to change how commercial real estate services are handled, and new advancements are a key focus of large brokerage firms that are seeking an edge in the space.

One of those approaches is TenantSee, powered by Cushman & Wakefield, which provides data and expert insight to help guide tenants in leasing decisions.

Greg Fogg and former electrical engineer and project manager Samantha Low co-founded TenantSee. The company won a 2018 #RETAS award for Tech-Enhanced Brokerage from CREtech.

Fogg, an executive managing director with Cushman & Wakefield who has spent 30 years in the industry, will be among the panelists at Bisnow's San Francisco CRE Tech Summit on May 9.

Bisnow caught up with Fogg to talk a bit about TenantSee and the future of PropTech.

Seeing the True Value of Your Office with TenantSee

Seeing the True Value of Your Office with TenantSee

Traditional “tenant representation” is heavily influenced by procurement strategies – strategies that focus on lowering cost. The simple idea?  Create competition among a subset of landlords for the  tenancy. The advisor’s value is in how low it can drive down the cost of space. But office space is more than an expense. It’s an investment that impacts productivity (revenue). Comparatively small percentage increases in productivity are worth much more than large percentage decreases in cost.

The Fallacy Of Finding Your Next Office Online

The Fallacy Of Finding Your Next Office Online

Technology investment in the commercial real estate sector is higher than ever. One of the areas garnering strong investor interest is web search. In the context of commercial office space, the consumer value proposition of web search centers on making the otherwise complex process of finding your next workspace easy. And in an age when we increasingly transact for goods and services using our mobile device, the promise of an easier way to secure office space is inherently compelling.

Market Outlook Q1 2019 - Tenant Perspective

Market Outlook Q1 2019 - Tenant Perspective

This San Francisco office market report is provided

compliments of TenantSee. TenantSee is a tenant real

estate product combining a team of subject-matter

experts with powerful technology to make tenant

real estate smarter, faster and better. Our report is

intended to provide you, the tenant, with meaningful

insights, not raw data.

Three Essential Steps To Combat A Tight Office Market

Three Essential Steps To Combat A Tight Office Market

We are nearing the longest period of economic expansion in U.S. history. At this stage of the cycle, some U.S. office markets are extremely tight, resulting in reduced occupier leverage and more expensive leases — none more so than the San Francisco Bay Area. As of the fourth quarter of 2018, according to Cushman & Wakefield (our parent company), the San Francisco office market is 6.4% vacant, the lowest vacancy of any major U.S. market. The average asking rent is $75.57, the highest in the country, and office rental rates increased 41% from 2013 to 2018. Similarly, JLL's Q4 Office Insight reportestimates total vacancy at 7.1% and average asking rent at $80.97, and Newmark Night Frank notes in its San Francisco Office Market research for Q4 2018 that overall vacancy is 8% with asking rental rates averaging $82.51. The bottom line: Space options are limited, and rental economics are at all-time highs.

Prioritize then Lease

Prioritize then Lease

Every company understands that real estate solutions impact people and financials. This is obvious. Yet given this simple truth, it's remarkable how many companies fail to prioritize the impacts before implementing a leasing strategy. In fact, the strategy itself should be informed by these priorities. The world of tenant real estate services is fundamentally organized into the categories of space procurement, space design and space construction. These services are mostly geared toward execution, often lacking meaningful pre-execution consultation.