New Year, New CREW!
Meet this year’s fantastic group of CREW men and women and see what we’ve been up to!
New Year, New CREW! Read More »
Blog
Commercial Real Estate Executives Positive Despite Cautious 2019 Outlook
The Real Estate Roundtable’s Q1 2018 Economic Sentiment Index shows that executives in the commercial real estate space still anticipate “strong near-term asset values and capital availability.”
Highlights from the report include:
- Survey respondents feel comfortable with where the current 2018 market is, but are concerned about 2019
- Capital sources are making more calculated decisions
- Asset values seem to be peaking
- Competitive and available sources of capital are prevalent
Read the summary and access the full report at Connect.media.
Commercial Real Estate Executives Positive Despite Cautious 2019 Outlook Read More »
Economic Impacts of Commercial Real Estate: 2018
According to NAIOP Research Foundation’s annual report, commercial real estate development and operation of existing buildings generated the following economic benefits:
- Supported 7.6 million American jobs in 2017 (a measure of both new and existing jobs).
- Contributed $935.1 billion to U.S. GDP.
- Generated $286.4 billion in salaries and wages.
Read the full report to understand the full impact that commercial real estate has on the economy. Originally published by Dr. Stephen S. Fuller in January 2018 on NAIOP.org.
Economic Impacts of Commercial Real Estate: 2018 Read More »
Bitcoin’s Technology and its Impact on Commercial Real Estate
Bitcoin’s blockchain technology has revolutionized the way financial markets are thinking. In a nutshell, blockchain technology is a continuously growing list of data that is inherently resistant to modification. How can that be applied to CRE? Connect Commercial Real Estate explored what that technology could mean for commercial real estate in their article What’s Blockchain’s Potential Impact on CRE?
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Five Tips to Springboard Your Career
When is the last time you took a good hard look at your career path? How far you’ve come and where you want to go. It’s never too late, or too early, to set yourself up in your current job to get that promotion, be selected for a new position or find yourself recruited by another organization altogether. Here are five tips to help you prepare for and execute on your next big move.
Let your advocates know
Tell your trusted network about your job aspirations. These friends and colleagues can offer the
advice, insights and introductions that will help you advance in your career – one of them may
even advocate to bring you along with them! And, of course, it’s always a good idea to have a
recruiter as part of your support team. Recruiters are well-networked and when we’re made
aware of what you’re looking for, we will find you matching job opportunities.
Share your progress and success
It’s hard to boast about yourself. And there’s a time and place for it and proper way to do
it. But unless the decision makers in your company (or at the company where you
want to transition to) know about your contributions and the value you bring, they won’t have the
information they need to confidently offer you more responsibility or a new role. Day to day,
keep your head down and get the job done. It’s a great work ethic! But when the time comes –
during a review or a casual walk to grab coffee – be prepared with examples of your
accomplishments to let the right people know what you have been up to.
Keep learning
Continuing your education and professional development is important and can be fun at
any stage of career. When you have decided what your next move is going to be,
go back to the classroom to take a related course or shadow someone in your company.
It will strengthen your marketability and bring you that much closer to the job you seek.
Mentor others
Being a manager comes with great responsibility and the opportunity to truly mentor. Imparting your knowledge and experience will help your team members grow in their careers and allows you to continue to grow in your own.
RSVP Yes
Accept the work and outside-of-work invitations even when you’re buried in emails or so
tired all you want is your couch. You’ll meet someone new, learn something new and inevitably
hear about a new job opportunity. And when that great opportunity presents itself, even if it’s
intimidating, take it!
“If someone offers you an amazing opportunity and you’re not sure you can do it,
say yes – then learn how to do it later.”
– Richard Branson, Founder of Virgin Group
– Carly Glova with Building Careers
Five Tips to Springboard Your Career Read More »
Life Science Markets Poised for Outsized Growth
Want to be part of the continued life science boom? Check out our job board for west coast CRE opportunities in that space.
The Connect article sites the below major takeaways from the CBRE report:
“– Employment in U.S. life sciences has risen by 23.5% since 2001, outpacing the overall job-growth rate of 10.2% – Lab-space vacancy rates are tight in primary life-sciences markets, registering at less than 2% in Chicago, 4% in the Bay Area and less than 5% in Boston -Rent growth is robust, including a 50% increase in Boston’s Cambridge submarket since 2013 – Venture capital investment in the U.S. life-sciences industry now is 53% greater than 10 years ago”
Clearly life science and biotech is a hot market, and we are excited to see the economic benefits of the space needs and research results of theindustry.
Read the full article here: U.S. Life Sciences Markets Poised for Outsized Growth
Originally published on Connect on January 22, 2018 from research published by CBRE
Life Science Markets Poised for Outsized Growth Read More »
What you need to know about Amazon’s 20 finalist cities for its second headquarters location
Amazon’s second HQ decision is down to the finalists. What kept these 20 cities in the running?
The finalists include:
- Atlanta
- Austin
- Boston
- Chicago
- Columbus
- Dallas
- Denver
- Indianapolis
- Los Angeles
- Miami
- Montgomery County, Maryland
- Nashville
- Newark
- New York City
- Northern Virginia
- Philadelphia
- Pittsburgh
- Raleigh
- Toronto
- Washington, D.C.
What you need to know about Amazon’s 20 final cities
Originally published by Kaya Yurieff, Nathaniel Meyersohn and Chris Isidore @CNNTech on January 18, 2018
How Much Money Should I Be Making in Commercial Real Estate?
It’s 2018. It’s January. It’s the start of new resolutions and a great time to look at where we are in our careers. For many, it might also be time for our annual reviews and bonus and promotion discussions. The insightful 2017 Real Estate Compensation Survey conducted by CEL & Associates, Inc. lists the many real estate industry jobs out there and their associated salaries and bonuses.
I pulled together the below charts to provide a visual representation that highlights select roles and role levels.
Working with folks in these positions daily, I want to share with you some observations that I took from the compensation study:
- Roles in the residential arena pay significantly less than office and retail, with retail real estate roles paying the most. It will be interesting to see how those trends develop as our industry continues to evolve.
- Roles in leasing tend to have a larger percentage of their compensation rooted in bonus, so while their base salaries may be lower, their bonuses are higher. This isn’t as apparent in residential leasing, however.
- As you would expect, the higher the level of position, people tend to receive a larger bonus as a percent of their salary, so not only is the bonus percentage increasing with seniority, but the base number that it is based on increases as well.
- As a general proxy, based on a small sample size of numbers I tested compared with average salaries I have seen in the local market, San Diego pays about 10% less than the national median numbers published in this survey.
Stay tuned as we provide some inspirational insights next month regarding how to springboard your career in the direction of those executive roles (and compensation packages!).
*Thank you to CEL & Associates, Inc. for the information.
Please note that the compensation figures presented represent a composite of all companies participating in the 2017 CEL National Survey and are not stratified by
ownership/type of company (public vs. private), company size, product specialization, regional geographic location, or metropolitan area. Further, factors such as tenure,
experience, role and responsibility will impact compensation levels and benchmarks (percentiles) for the evaluation of any comparative situation, as will the financial situation of
a company and its investment and business strategy.
(1) High = 75th percentile, Median = 50th percentile, Low = 25th percentile.
Survey Completed 2Q 2017.
Source: CEL Associates, Inc./CEL Compensation Advisors, LLC (c) 2017 National Real Estate Compensation Survey – All Rights Reserved. Not to be referenced or
reproduced in any form without prior permission in writing: 12121 Wilshire Blvd., Suite 204, Los Angeles, CA 90025 Tel. (310) 571-3113, Fax. (310) 571-3117.
How Much Money Should I Be Making in Commercial Real Estate? Read More »
The world’s most anticipated buildings in 2018
Who is brave enough to live in the penthouse of the US’s tallest wooden high-rise? New year, new buildings to look forward to!
What is your favorite trend? Undulating facades, multi-colored legos, or interlocking staircases?
Take a look at the stunning buildings slated to be delivered this year.
The world’s most anticipated buildings completing in 2018
Originally published on December 31, 2017 by CNN.com
The world’s most anticipated buildings in 2018 Read More »
What can we expect from CRE in 2018?
2018 continues to be talked about in a positive light for the real estate industry. There will always be a need for brick and mortar, regardless of how much technology continues to disrupt our society. The way we use those buildings just may require more and more creativity. The below article is a great read whether you own real estate, work in the industry, or are just plain curious.
According to Deloitte, there are four focus areas where commercial real estate companies can focus to help them continue to grow and maximize value. They are:
- PRIORITY ONE | UNLOCK THE VALUE OF REITS: ACCELERATE BUSINESS
- PRIORITY TWO | FOCUS ON RE FINTECH STARTUPS: AVAIL ALTERNATIVE CAPITAL OPTIONS
- PRIORITY THREE | EMBRACE ROBOTICS & COGNITIVE AUTOMATION (R&CA): AUGMENT PRODUCTIVITY
- PRIORITY FOUR | REIMAGINE TALENT AND CULTURE: ADVANCE PEOPLE
Read the full article here: Commercial Real Estate Outlook 2018
What can we expect from CRE in 2018? Read More »