Friday, March 30, 2018

Bouldin Creek Commons Office Space – 2043 S Lamar Blvd Austin Tx 78704

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Bouldin Creek Space Austin TxBouldin Creek Commons is a class A office building located in South Austin in the 78704 zip code at the corner of Lamar and Oltorf St. If you are looking for an office that is close to downtown Austin and walkable to many restaurants and nigh life then you definitely want to check this out. 

If you are interested in renting class A office space in Austin and would like assistance finding the best options contact us at 512-861-0525.

Building Size – 142,000 sf

Building Height – 4 floors

Typical Floor Plate – 30,000 to 38,000 sf

Parking – 3 per 1,000 sf

Class Office – A

Amenities on Site – Gym with lockers and showers, bike storage, car charging stations, Wifi enabled outdoor space, Google Fiber, Retail and restaurant space

Asking Base Rental Rate – $30 to $35 sf

Estimated Operating Expenses (NNN) – $12-$15 sf

For information about this Austin office building or other class A offices near downtown Austin Tx give us a call. We can help you search and find the best offices that meet your businesses size, layout, and budget.

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1000 N Lamar – Class A Office Space For Lease Austin Tx 78703

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1000 N Lamar Class A Office Building1000 N Lamar is a class A office building located near downtown Austin, Tx in the 78703 zip code area at the corner of Lamar and 10th street. If you are looking for an iconic address in a very walkable area then you might want to consider this building. It also boasts small floor plates making it easy to take a full floor and enjoy window views on all 4 sides of your office suite.

If you are interested in leasing office space in Austin Tx and would like help finding the best class a office spaces give us a call at 512-861-0525

Building Size – 18,000 RSF

Building Height – 3 floors

Typical Floor plate – 3,500 to 4,000 sf

Parking – 2.5 per 1,000 sf

Class – A

Amenities – Capital and UT Tower views, showers, bike storage, fitness center, covered parking, walking distance to many restaurants, night life, and shopping

Asking Base Rental Rate – $33

1000 N Lamar Austin TxEstimated Operating Expenses (NNN) – $12 for 2018

For information about this Austin office building or other offices near downtown Austin, Tx feel free to contact us. We can help you search for and find the best that is within your ideal size

, layout, and budget.

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Tuesday, March 27, 2018

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3 Things to Check to Ensure Your Rental Property is Safe to Occupy

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rental property safe from carbon monoxideWhether you rent a vacation rental property or rent a house zoned for office space use at the end of the day it’s your responsibility to ensure that it’s safe. Landlords that rent houses as office condos or vacation rentals are not typically responsible for the condition of the property. For example in many foreign countries carbon monoxide detectors are not required by law. You take the space “as is” and don’t even think about checking things that could cause injury or even death.

The moment you arrive at the rental property you need to check 3 things to ensure that you are safe from carbon monoxide poisoning or fire.

  1. Hot Water Heater – While it’s not possible to tell if a hot water heater is leaking, even if you stand right next to it, consider purchasing or traveling with a carbon monoxide detector and place it right outside the room that contains the heater and furnace. Hot water heaters are typically the common areas where you find carbon monoxide leaks. 
  2. Fire Extinguisher – Know where this is located and how to get to it quickly in the event there is an emergency.
  3. Know the Exits – Make sure you know where all the exits are to the rental property. Not just the front door. You need to make sure you locate all secondary exits and ensure that you will be able to find them in thick black smoke.

These 3 simple steps will ensure that you are danger free from carbon monoxide poising and fire.

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Monday, March 26, 2018

Where are Data Centers Located in Austin Tx?

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Data Centers in Austin TxReliable IT operations are a critical part of most organizations these days, especially to ensure business continuity. If a disaster occurs and one of your systems goes down your operations may be impaired or completely halted. However you can minimize any chance of disruption and enhance security by using a local data center which can offer a secure environment for your it equipment and minimize any chance of business disruption or security breach.

Most of them offer services such as redundant (aka backup) power supplies, Colocation, environment controls (e.g. AC, fire suppression, etc), redundant data communication connections, etc. Most data centers are located in industrial parks where you would need warehouse space for rent and in areas where there is fiber available. If you are looking for a data center to house your computer, server, and storage systems there are a few data centers in Austin Tx to choose from.

Data Centers In Austin, Tx

Data Foundry – Austin 1
7401 E Ben White Blvd, #1000
Austin, Tx 78741

Data Foundry – Texas 1
4100 Smith School Rd, Bldg 1
Austin, Tx 78744

Data Foundry – Texas 2
4100 Smith School Rd, Bldg 2
Austin, Tx 78744

CyrusOne Austin Data Center II
7301 Metropolis Dr, Bldg #6
Austin, Tx 78744

CyrusOne Austin Data Center III
7100 Metropolis Dr
Austin, Tx 78744

Flexential Austin Data Center
205 W 9th #201
Austin, Tx 78701

OnRamp Austin I
2916 Montopolis Dr #300
Austin, Tx 78741

OnRamp Austin II
7000-B Burleson Road, Suite 400
Austin, Tx 78744

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Friday, March 23, 2018

How to Find Office Warehouse Space For Rent in Austin Tx

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Office warehouse space in Austin TxSometimes your business needs to rent both office and warehouse space however finding the right balance between the two can be challenging. Before starting your search for office warehouse space it’s a good idea to sit down and think about your business needs and how you will be using the space. You also want to think about your ideal location and whether you need to be located close to a major highway or airport. For example most of the office warehouse space for rent in Austin tx is located in Southeast and Northeast Austin which just happen to be close to IH 35 and the Austin Bergstrom International Airport.

Office warehouse space is like flex space in that they are typically single story buildings with windows on the front. The spaces can be used for both office and warehouse use.

Things to consider when searching for office warehouse space

  • How much (in sf) office space do you need?
  • What is your ideal office layout (e.g. # of rooms, etc.)?
  • Will any of the office area be used for showroom space?
  • How many sf of warehouse space do you need?
  • How will your products be delivered (e.g. 18 wheeler or UPS type box trucks)?
  • Do you need dock high loading where an 18 wheeler or box truck and back up to?
  • Do you need grade level loading where you can drive a car into the warehouse?
  • Do you need air conditioning and heating (HVAC) in the warehouse?
  • What is your ideal office warehouse location?

If you have any questions about renting office warehouse space feel free to contact us for more info.

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Most Expensive Office Space in Austin Tx

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most expensive office space in austinIf you are looking for the most expensive office space in Austin Tx then look no further than downtown Austin.

With its abundance of lifestyle and entertainment options for clients and employees as well as being the center of government and business for the region, many companies feel that having an office in downtown Austin is a must.

The flip side is that you have to pay for it. Office space rental rates in downtown Austin will by far be the highest across the Austin-Round Rock Metropolitan area.

Below are a few of the most expensive office spaces in Austin, Tx.

#1. Frost Bank Tower – 401 Congress Ave, Austin, Tx 78701

Asking Base Rate = $45 + 
Estimated NNN = $27
Total Asking Rate = $72 SF

#2. 100 Congress Ave, Austin, Tx 78701

Asking Base Rate = $42
Estimated NNN = $23
Total Asking Rate = $66 SF 

#3. San Jacinto Center – 98 San Jacinto Blvd Austin, Tx 78701

Asking Base Rate = $38
Estimated NNN = $22
Total Asking Rate = $60 SF

#4. One Eleven – 111 Congress Ave, Austin, Tx 78701

Asking Base Rate = $37
Estimated NNN = $21
Total Asking Rate = $58 SF

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3 Biggest Mistakes Startups Make When Renting Commercial Real Estate

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mistakes startups make when renting commercial spaceIf you are a startup or new business at some point you will have to rent commercial real estate. You try to avoid having that expense for as long as you can however as your headcount grows and your business needs change you have no choice but to find office, retail, or warehouse space for rent. There are many mistakes that I have seen made however below are the 3 big ones.

Leasing Too Much Commercial Space

Many times new businesses or startups lease way too much space. You typically only need about 150 to 175 sf per person as long as the buildings parking ratio allows it. Also, they get too caught up in having all the cool fun space right off the bat. Yes it’s nice to have a game room with a ping pong or foosball table, or a lot of fun trendy lounge areas, however if you are a startup or new business you need to be smart about this.

I know you want to impress your visitors and want to recruit and retain employees however it’s important that you keep your operating expenses low until the business is more stable. You can rent a bunch more office space later on to turn into fun hangout areas later on. But for now lease as little space as you can get away with.

Renting the Most Expensive Commercial Real Estate

I know recruiting and retaining employees is important however you don’t have to rent the most expensive commercial space to accomplish this. Everyone knows that most startups are not profitable for the first few years and have to watch the numbers. So go find a nice class B or C space that you can live with for now. Ikea has lots of inexpensive cool furniture that you can buy to make your space look trendy. Keep your costs low and your investors will love you for it. When you are making lots of money then consider renting the most expensive commercial space.

Signing a Long Commercial Lease 

In a hot market many landlords will try to force you into a long term lease. Don’t be pressured into doing so unless it makes business sense. Find a commercial space that will allow you to lease for 3 years or less. If you search hard enough you will find a handful of property owners that will do shorter term leases. When your company is more established and stable then consider signing a 3-5 year lease. 

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Considerations When Renting Medical Office Space

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considerations when leasing medical office spaceRenting medical office space will be one of your biggest expenses when owning your own medical practice. The location of your medical space, type of space, amount you pay in rent, etc will have a huge impact on the success of your medical practice. Therefore it’s important that you thoroughly research your options, pick the right space, and negotiate the best deal possible. Below are a few considerations when renting medical office space.

Medical Building Accessibility

Not all professional office buildings will give your patients 24 hour access or be accessible outside their normal building hours. In professional offices building hours may be 7am to 6pm Monday – Friday and 8am to 12pm on Saturday. The only way you can access the building is if you have a rfid card and your patients would have to call you to come down to let them in.

If your medical practice typically sees patients during hours outside these hours then make sure you find a building that will accommodate after hours access. Or find a space that allows you to have your own direct entrance. Most medical office buildings have building hours that accommodate most medical practices.

Biohazardous Medical Waste

Most medical practices handle biohazards so make sure the building you are considering is equipped to handle that. Most office buildings that are labeled as medical office space typically do. If you are renting a standard professional office then you will have to work out the details.

After Hours HVAC

Again most professional office buildings have standard building hours of 7am-6pm Monday-Friday and 8am-12pm on Saturday. That also means that those are the hours that the HVAC (Heating, Ventilation, Air Conditioning) is included in your operating expenses. If you have any HVAC needs outside of those hours you will end up paying up to $25 per hour. 

Medical office buildings are set up to where each tenant pays their utilities on their own so they can have the HVAC on 24/7 if they like. And they avoid any hourly fees. As you evaluate office spaces make sure you know how the utilities will be handled. Is after hours HVAC included or is there an hourly fee. Are you able to separately meter the after hours HVAC?

Security For Medical Patients

You want to ensure that your staff and patients are safe. Find out what security is available in the building if any. If there is what is the process for contacting.

Medical Office Space Parking

Medical practices typically have high parking needs. You need parking for your staff and patients. Make sure the building you are going to rent from has enough parking to accommodate your needs. Find out where it is located. The more difficult it is for your patients to park the less likely they will want to come to your medical office.

 

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Friday, March 16, 2018

Free LoopNet Alternative to Find Commercial Real Estate

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Loopnet Alternative Find Austin Commercial Real EstateLooking to rent commercial real estate in Austin, Tx and searching Loopnet online for listings? If you want to get better and more accurate commercial leasing information let Austin Tenant Advisors help you find your next commercial real estate space.

We have helped over 400 companies find Austin commercial real estate that is within their ideal size, budget, and location and we can help you do the same. To get started simply call (512) 861-0525 or fill out our online form and:

  • We will search on your behalf to find space that matches your ideal needs
  • You receive a custom report of available spaces matching your exact needs complete with photos, floor plans, and pricing
  • Representing your best interests we will schedule visits for your favorite options, draft proposals, and negotiate against the building landlords to ensure that you get the best possible terms and deal

Loopnet has a lot of great information and commercial real estate listings in Austin however they don’t always include all the information you need to make an informed decision, and a lot of their data is inaccurate or outdated. 

By letting us help you find commercial real estate in Austin you will level the playing field and be empowered with the same information & tools needed to make good deals that the landlord has. We will make sure that your time is not wasted and that we confirm that each space meets your needs before presenting them to you.

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Tuesday, March 13, 2018

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Tips For Choosing a Data Center Location

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Choosing a Data Center LocationA real-time remote back up of your business data provides a key to your business continuity, your ability to continue business operations during any natural or man-made hazard. Without offsite data duplication, you risk losing your business data to fire, flood, tornado and more.

The location of the data center or co-location center your business uses can enhance the safety it provides you. While data centers use redundant systems to ensure their own up time, the same natural hazards that could affect your business, also threaten them. For this reason, you find many large data centers in out-of-the-way places like Idaho and Iceland. Also most data centers will be found in areas with Industrial warehouse space for rent.

The Fewer Hazards the Better

Data centers favor locations experiencing the least number of natural hazards, such as tornados and hurricanes. Boise, Idaho has become a popular location for data centers because it comes second among US for experiencing the least natural hazards. As far as weather and geologic activity, Boise is pretty dull. It’s pretty perfect for data safety though. Its climate helps, too.

Data Loves the Cold

Not the Star Trek character, but your data. Also, the computers storing the data love the cold. Prioritize data or co-location centers located in cold climates.

The cryptocurrency boom has created a growing need for data centers in places with cheap electricity. Cryptocurrency mining requires speedy computers and a significant amount of electricity.

Iceland’s cold climate and reliance on hydro power have netted it so many new data centers in the past three years that the country is now in danger of not being able to meet its electricity needs.

Carrier Neutral Environments

In the old days, you needed a data center located near your office. By near, we mean 100 miles or so. Now, however, high-speed data has become so commonplace that most businesses save to the cloud and use remote backups. This elevated the importance of telecommunications services available to the data center. Choose a carrier neutral center in an area with a number of carrier choices. A co-location center, especially, should offer connectivity from a variety of network vendors. This redundancy increases data transmission speeds and provides transmission backup.

Look for Lemmings

If you consider a data center located in an area with many other data centers, you discovered a strong location for data centers. Think of data centers like lemmings. They follow each other to good locations. A cluster of data centers in one area signals strong telecommunications options, reliable utilities and good geography.

High Security Design

Of course, computer security remains of utmost importance at a data center, but so does physical security. Look for security measures that limit access to the building and its contents, including:
buffer zones surrounding the facility,
limited access due to barriers and gates,
surveillance cameras,
booby traps and fingerprint scanners,
redundant electricity, water, cooling and telecommunications,
private cages for the servers.

Additionally, you need to ensure it meets any applicable industry standards, such as the Payment Card Industry Data Security Standard (PCI DSS).

Other Considerations

Beyond its location, the data center your business chooses needs to offer other amenities. Look for the following criteria:

  • 99.999 to 100 percent uptime,
  • the company’s deployment efficiency,
  • the data center’s financial stability,
  • the center’s scalability,
  • related managed services.

The ideal data center can grow with your business.

Putting Together Your Request for Proposals

Once you identify a preferred location, issue a request for proposal (RFP) to six to eight data centers. Specify proposal requirements and format so you can compare apples to apples. Your RFP should request information on a center’s:

  • service level agreements,
  • master service agreements,
  • environments,
  • cost models,
  • physical security features,
  • managed services options,
  • pricing model.

Part of your RFP process should include a site visit with a full tour of the facility. Time it to occur after the companies submit their proposals and you’ve completed the proposal review. Develop interview questions from the RFP data. Ask every data center operator the same questions. Although the information provided by one center may be the catalyst for the question, all centers need to respond so you can compare information side-by-side.

Your choice of data center or co-location center becomes one of the most important choices your business makes. It provides a cornerstone of its business continuity. The resilience of the data center becomes the resilience of your business. Choose a data center in a low-hazard area with a variety of telecommunications providers and stellar security. The ideal center grows with you and offers additional services at reasonable prices. While finding the right data center takes time and effort, its benefit to your business makes it worth the wait.

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Friday, March 9, 2018

How Much Alcohol Did Austinites Drink in 2017?

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Austin Tx alcohol sales 2017Well there is no shortage of alcohol consumption in Austin, Tx. Below are the top 10 establishments with the highest grossing alcohol (all types) sales in Austin in 2017. The total gross alcohol sales for 2017 was $739,678,096

  1. JW Marriott Downtown Austin – 110 E 2nd St – $12,246,650
  2. The Rose Room – 11500 Rock Rose Ave – $5,848,352
  3. Chupacabra Cantina – 400 E 6th St – $5,808,840
  4. The W Austin – 200 Lavaca St –  $5,112,959
  5. The Dogwood (Rock Rose) – 11420 Rock Rose Ave – $4,689,568
  6. Topgolf – 2700 Esperanza Crossing – $4,619,458
  7. The Blind Pig Pub – 317 E 6th St – $4,413,943
  8. Four Season Hotel Austin – 98 San Jacinto Blvd – $4,314,259
  9. Palazio Mens Club – 501 E Ben White Blvd – $4,099,672
  10. Kung Fu Salon Rock Rose – 11501 Rock Rose Ave Suite 140 -$4,119,394

Gross Sales by Alcohol Type in 2017

Below is the gross alcohol sales for each type of alcohol. Liquor clearly leads the way.

  1. Liquor – $410,009,430
  2. Beer – $207,080,442
  3. Wine – $122,588,224

If you need to rent Austin retail space give us a call to discuss your needs.

 

 

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Why an Active Workspace is Good for Business

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benefits of active workspaces50 years ago when companies first started using cubicles they were meant to encourage worker collaboration & flexibility, however these days they are a symbol of a stagnant non-active office environment. Now they are used to squeeze more people into one room rather than stimulate idea sharing. The photos on this blog post are from a couple creative office spaces in Austin Tx.

Workers need to get out of the cubicles, engage & communicate with others, and move around. Office spaces that don’t support flexibility & movement end up making people not want to come to the office which can hinder productivity. 

Companies need to design active workspaces that allow employees to stand or sit whenever they want to. They need multiple rooms to move about and communicate with other fellow employees. You know the old saying…….Think on One’s Feet. Well if you are in an active workplace you maybe already standing and thinking on your feet. With movement in the workplace people will have more energy and not have the energy sucked out of them from sitting all day.

active workspaceIdeas For an Active Workplace

  • Conference tables that allow people to stand and collaborate on projects
  • Individual desks that allow employees to sit or stand with a push of a button
  • Placing trash cans in central areas rather than at individual desks so employees are forced to walk more
  • Create different places for people to work out of such as coffee bars or lounge areas
  • The use of music in bathrooms, break areas, and other non-work rooms

The goal is to elevate the energy of your office space. It does not cost an arm and a leg to implement an active work environment. It just takes a little thinking outside the box. Companies have been using cubicles for over 50 years so change won’t happen overnight, however each little change toward an active workspace will pay dividends for years to come.

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Thursday, March 8, 2018

Why the 360 Bridge is also called Pennybacker Bridge in Austin, Tx

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Pennybacker Bridge Austin TxThe 360 Bridge in Austin, Texas is a steel arched bridge that spans the distance of Lake Austin (1,150 feet long) and connects the North & South sections of  the Capital of Texas Highway (also known as Loop 360 Hwy).  It is considered as one of the most scenic urban highways in Tx thanks to this bridge. Surrounding the bridge are miles of beautiful Texas hill country, expensive homes, and a handful of class A office spaces in Austin.

Pennybacker Jr. Bridge in Austin, Tx

It’s more commonly known as the 360 bridge however was named after Percy Pennybacker Jr who was a pioneer in welded structure technology and designed bridges for the Texas Hwy Department in the early 1900s.

The Pennybacker Bridge was started in 1979 and completed in 1982. To help it blend in with the surrounding area it was designed with a weathered rust finish. Made of 600 short tons of steel produced in Japan and 3,400 short tons of concrete the Pennybacker Bridge cost $10M to design and construct.

The 360 Bridge Austin Texasarched design was created to avoid having support columns because Lake Austin is very popular with water skiers, wake boarders, and boaters.

Percy Pennybacker

Lived from 1895-1963. He earned a civil engineering degree from UT, served as a captain in the Army in WWI, and learned about welded construction in WWII. By incorporating the use of welding for bridge design he is credited for saving the State of Texas millions.

 

 

 

 

 

 

 

 

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Tuesday, March 6, 2018

Travis Oaks Office Space Sublease – 5113 Southwest Parkway Austin Tx 78735

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travis oaks office space subleaseCheck out this great short term office space sublease in Southwest Austin. If you are not ready to sign a 3-5 year lease then this might be a fit for you. Great for startup companies or those not yet sure about their current and future office space needs.

For more information call 512-861-0525. If you have other requirements feel free to contact us for help to find commercial office space Austin Tx for your business.

About This Office Space Sublease in Southwest Austin

  • Size: 3,703 RSF
  • Layout: Reception, 3 offices, conference room, break area, open area for desks
  • Location: 5113 Southwest Parkway, Suite 150, Austin, T 78735
  • Available: Immediately
  • Asking Base Rate: $$23.50 sf per year (negotiable)
  • Estimated NNN: $13.55 sf per year
  • Utilities: All included in the rate

office floor plan

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Heritage Square Office Sublease – 2901 Bee Cave Rd Austin Tx 78746

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old house zoned commercialCheck out this great short term office space sublease in Westlake. If you like old houses zoned commercial for office space and not ready to sign a 3-5 year lease then this might be a fit for you. For more information call 512-861-0525. If you have other requirements feel free to contact us for help to find Austin office space for your business.

About This Office Space Sublease

  • Size: 1,639 RSF
  • Layout: Reception, 3 offices, conference room, break area
  • Location: Heritage Square, 2901 Bee Cave Rd, Unit A, Austin, Tx 78746
  • Available: Immediately
  • Asking Base Rate: $$25.25 sf per year (negotiable)
  • Estimated NNN: $5.23 sf per year
  • Utilities: Sublessee pays own utilities

office space floor plan

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How To Keep Your Industrial Space Costs Low

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lower industrial space costsWhen leasing industrial space you will typically be responsible for more of the repairs and maintenance then when renting office space. For example one of the big items is that you will be responsible for are the repairs, maintenance, and replacement (if needed) of the HVAC systems, especially if you are considering industrial space for rent Austin Tx.

Because of that it’s important that you do your due diligence before leasing industrial space. Also everything is negotiable so make sure to keep the tips below in mind to ensure that you keep your industrial space costs low.

Do an Industrial Lease Audit

Before signing on the dotted line do your own math. Don’t just take the landlords word for it. Try to have the space measured to ensure the square footage is what the landlord says it is. Also, run the numbers on your pro rata share and calculate the month rent based of the base rents and operating expenses that were previously negotiated. Make sure you know how the landlord arrived at their numbers.

Energy Consumption in Warehouse Spaces

There are ways to lower your energy bills by replacing the existing light fixtures with Energy Saving ones such as LEDs. Installing motion activating lights in the bathrooms, break areas, and offices can also help to decrease your energy footprint. Looking into energy tracking software that can help you identify where the majority of your energy consumption originates.

Industrial Property Taxes

Work with the landlord to ensure that the industrial property rental is properly assessed. City tax reassessments don’t always keep up with the depreciation of an industrial property. Also research the possibility of economic tax breaks for your industry and any possible freeport tax breaks

Reduce Unused Warehouse Space

Some studies suggest that warehouse facilities are only 48% used by tenants. If you fall within this range then you are paying for more industrial space than you need. Get creative and see how you can make better use of your space and reduce wasted cubic footage. If you cannot find a use for the unused or wasted space then consider subleasing it or renegotiate with the landlord to reduce the size space your paying for or relocate to a smaller space.

Industrial Space Maintenance Technology

If work orders are completed onsite by your team consider a mobile work order dispatch application. This could decrease your need for personnel costs. One or 2 people could simply manage and input all the work orders and increase their response time

Consider Commercial Warehouse Renegotiation

Find out how the Industrial market is doing and what others are paying per sf for their space that is similar to yours. In exchange for extending your lease you may be able to negotiate a lower rate. Or maybe the landlord will throw in some tenant improvement dollars to help cover the cost of energy saving improvements that will lower your overall operating costs.

 

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Monday, March 5, 2018

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Relocation Clause & Substitution Space in Commercial Leases

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commercial lease relocation clausesDepending on the size of your space in most Austin commercial real estate leases landlords try to incorporate some sort of relocation clause. You will also see this referred to as a Substitution Space clause. The reason why they ask for this is because they want to maintain control of the building space in the event they need to accommodate a larger existing tenant or prospective tenant that needs a larger amount of space than you. It’s vary rare that a relocation clause is exercised because it can be very expensive for them to do so. You typically only see them exercise this option when they have a large tenant opportunity that is willing to sign a long term lease.

A relocation clause is not convenient for a tenant, and could be very costly if not negotiated properly, especially if that tenant has invested a lot of their own money improving the space. If you are a small tenant you may not have the leverage to negotiate the removal of this, however there are ways to make it harder and more costly for the landlord to do this. If you are a large tenant and/or have invested a ton of money into your space or the cost of downtime could significantly impact your business then you definitely want to negotiate hard on this. 

What Does a Commercial Lease Relocation Clause Mean?

A relocation clause basically gives the landlord the right to relocate your company to another (substitute) space within the building.

For example say you rent 2,000 sf on the first floor of a building and there is 10,000 sf adjacent to your space that is available for rent. A prospective tenant comes along and needs to lease 12,000 sf. A landlord wants to make that deal. Having a 10,000 sf tenant is worth a lot more money than a 2,000 sf tenant. If you have relocation clause in your lease then the landlord has the ability to relocate your space to another available space in the building so they can make the deal with the larger tenant.

What do Commercial Substitution Space Clauses Look Like?

Below are just two examples of the type of relocation clauses and substitute space language that you will typically see in a commercial lease. Some are much longer and more detailed.

EXAMPLE #1

RELOCATION. Landlord shall have the option to relocate Tenant to alternative space in the Building (the “Relocation Premises”), which Relocation Premises shall be of comparable size or larger to the Premises. Landlord shall give Tenant not less than ninety (90) days prior written notice of such relocation, which notice shall include the date on which Tenant shall be required to relocate or move and a description of the Relocation Premises to which Tenant will be relocated. Landlord shall pay all out-of-pocket costs and expenses incurred by Tenant as a direct result of such relocation (including the cost of preparing the Relocation Premises for occupancy), provided, Tenant must furnish to Landlord invoices, receipts or other evidence reasonably satisfactory to Landlord relating to such out-of-pocket expenses. In the event of such relocation, the Relocation Premises shall for all purposes be deemed the Premises hereunder and this Lease shall continue in full force and effect without any change in the other terms or conditions hereof.

EXAMPLE #2

SUBSTITUTION SPACE. Landlord may, at Landlord’s expense, relocate Tenant within the Building to space which is comparable in size, utility and condition to the Premises. If the Landlord chooses to relocate Tenant, Landlord shall reimburse Tenant for Tenant’s out-of-pocket expenses for moving Tenant’s furniture, equipment, and supplies from the Premises to the relocation space and for reprinting Tenant’s stationery of the same quality and quantity as Tenant’s stationery supply on hand immediately before Landlord’s notice to Tenant of the exercise of this relocation right. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space.

How Can I Minimize Landlords Control of Relocation Clause?

When negotiating the commercial lease contract your initial attempt should be to have the relocation clause removed altogether. However if you are a small tenant and/or signing a short term lease you will have a hard time getting the landlord to agree to the removal of the substitution space clause. 

If the landlord just absolutely will not agree to removing it then incorporate some language into the paragraph that will ensure the landlord gives you plenty of notice and that the substitution space is the same or better than your existing space. For example you want the same number of windowed offices, same finishes, etc. Also if the substitution space is larger than your existing space you don’t want to have to pay more rent than you do now. In the event that the landlord cannot provide space that meets your needs or if no other space is available in the building then you want the ability to terminate the lease.

Below is some example language that would protect a tenant in the event a landlord will not agree to removing the relocation clause.

RELOCATION. Landlord reserves the right, privilege and option to relocate Tenant, not more than once during the Term, upon one hundred twenty (120) days’ prior written notice, from all or part of the Premises (herein referred to as the “Old Premises”) to another area in the Project (herein referred to as the “New Premises”), provided that:

(a) The net usable area of the New Premises must be at least equal to the net usable area of the Old Premises and, in any event, if the New space is larger than the Old Premises the rent payable by Tenant hereunder with respect to the New Premises shall not exceed that required with respect to the Old Premises;

(b) The New Premises shall be substantially the same in configuration, number of windows, decor, interior improvements and nature as that of the Old Premises, and all reasonable effort shall be made by Landlord at Landlord’s cost to place the New Premises in such condition; and

(c) Landlord pays the cost of moving Tenant and improving the New Premises to a standard comparable to the Old Premises, including, without limitation, the cost of recabling and rewiring Tenant’s data and communication systems, replacement of reasonable quantities of stationery on hand and all labor and product costs associated therewith. Tenant shall cooperate with Landlord in all reasonable ways to facilitate the move, including supervising the movement of files or fragile equipment, designating new locations for furniture, equipment and new telephone and electrical outlets, and determining the color of paint in the New Premises.

 

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Saturday, March 3, 2018

Benefits of Wireless Office Space Network Setups

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wireless office space network setupHistorically when building out office spaces the only option tenants had for their office space network setup was to use data cabling. For every employees telecommunication needs such as phones, computers, printers, fax machines, etc. data drops were necessary. Connections are installed at the wall and from there the data cables are run up the wall, over the ceiling grid and to the spaces server/phone room. Sometimes they are run to the building phone/data room.

In most cases CAT5E or CAT6 data cabling is used. 

  • CAT5E requires you to run a cable for each device
  • CAT6 is the newer cabling that allows you to run multiple devices on on cable, thus decreasing the number of data drops needed. These are typically a little more expensive however since fewer cables are needed your overall prices may still be lower.

How Much Does Office Space Data Cabling Cost?

In most cases you need 2 data cable drops for each employee. One for the computer and one for the phone. At $100 to $175 per drop it can get pretty expensive especially when you have a lot of employees and a lot of rooms (e.g. conference, workrooms, offices, etc. If your company has 50 employees then your looking at $10,000 to $17,500. Also in some markets such as when leasing office space Austin tx office building owners will require that you remove your data cabling before moving out of the space. These costs can run from $25 to $75 per line as well which depending on the size of your space can be thousands.

Advantages of Wireless (WiFi) Office Network Setup 

Rather than spending thousands of dollars on hard wired network connections many companies are turning to wireless (WiFi) office network setups. With the advances in internet speeds many companies switch to wireless networks has not slowed down their productivity at all.

Also more and more tenants are using mobile phones and laptop computers in Lieu of landlines and desktop computers which decreases their reliance on data drops. Rather than pay all the money for data cabling they are using that money for robust WiFi networks and mobile phone reimbursement plans for their employees. Even with spending money to beef up the routers, internet speed, and more bandwidth they still save money in the long run.

Your company may still need a few data drops for your Wireless Access Points (WAPs) and for a few other needs (e.g fax machines & printers). 

With the increase in demand for creative office spaces wireless office space setups are becoming more popular. A wireless network setup allows your work areas to be easily reconfigured allowing your employees to move from desk to desk & room to room as they collaborate and brainstorm with fellow coworkers. Also having a wireless office makes it easy for your company to grow and expand. With data cabling you would have to modify your furniture layout, reconfigure the work area, and potentially install new hard cables. Being wireless you just need to give them a laptop and a desk, and they are up and running in no time.

With a wireless network set up in your office you will avoid paying money for data drops and your company will have the flexibility to grow and scale. With fewer needs to house switches, cables, & racks you will have more usable space and potentially eliminate the server room altogether.

 

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Friday, March 2, 2018

Benefits of Technology in Commercial Real Estate

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Benefits of Technology in Commercial Real EstateResidential real estate has seen a lot of technological advances over the last decade that have greatly improved agent processes and made it easier for users to find homes for sale. Commercial real estate on the other hand has been a little behind the eight ball, however in the last few years there have been an influx of new startups trying to impact commercial real estate Austin with technology. Incorporating technology into commercial real estate processes is important for the future of the industry and there are benefits to brokerage houses, tenants, owner occupiers, and investors. 

Below are a few benefits of incorporating technology in commercial real estate:

Control Over Commercial Property Utility Costs

Changing your incandescent or halogen lights with LED lights can reduce your energy consumption dramatically. They also give off less heat which means your air conditioners don’t have to run as much during the summer. You can also control the HVAC thermostats with a tablet or smartphone so you can operate them from anywhere.

Reduce the Size Space Needed

Using the right technology can help you reduce the amount of commercial space you need, thus saving you on rental costs. Computers take up less footprint. Also with cloud storage and telecommunication advances it’s much easier to work from home more than ever. Letting employees work from home 1 or 2 days per week allows you to incorporate workspace and office sharing thus reducing the need for commercial space.

Expedite Commercial Lease Process

Enhancements in digital documentation and communications make it easier to negotiate and sign leases. With the right software you can review and sign documents from a mobile device. This allows your team to be much more productive and they can focus more on day to day business.

Manage Commercial Real Estate Portfolio

If your business has more than one office or retail location there are software applications that allow you to manage them remotely via web app. This means you don’t have to travel as much to each location which can save on the bottom line.

Access to Better Commercial Real Estate Data

Commercial real estate info that only agents and landlords could once access is now available to tenants and buyers of properties. The online data on sites such as Loopnet, 42floors, etc.  is not always accurate or up to date however can give you some insight. The use of these tools along with the agent that represents you can ensure you get a better deal and are not over charged.

Virtual Realty & Augmented Reality

Virtual reality has been a while for a while and has been used quite a bit for office space design and virtual meetings which decreases the need and cost for travel. Also allows tenants and buyers to view properties remotely without having to physically be there. In a sense it will gamify the entire commercial property selection process even before they are built. The use of this technology will save users money and time.

Augmented reality is still relatively new however is going to revolutionize the commercial real estate industry. Building management & maintenance statuses will be able to be seen by techs as they walk through buildings

Drone Technology

The use of drones to create videos and photos of properties continues to increase and will continue to be an integral part of managing and marketing a commercial building. It allows CRE professionals to gather the data needed to evaluate potential investments as well as inspect buildings and identify problem areas. Also the footage can be used to create a realistic experience for users.

Internet of Things (IoT)

By integrating technology into commercial property management systems owners will be able to improve the building user experience by incorporating sensor-generated data. Smart devices will use algorithms to automate simple tasks, make decisions, eliminate mistakes, and adapt to and learn an environment. Opportunities to automate job function such as marketing automation, customer support, predictive analytics, etc.

Smart Sensors for Building Management

Integrated into a building they will help increase safety & security, as well as reduce management costs. They can sense and gather environmental change and report results in real time such as temperature, humidity, light, etc.

Blockchain to Buy & Sell Commercial Properties

Still a buzzword you will see more commercial properties bought and sold with digital currency.

 

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Austin Warehouse Space Short Term Sublease- Expo Business Park Southeast Austin Tx

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Check out this great short term Warehouse sublease in Southeast Austin. If you are not ready to sign a 3-5 year lease then this might be a fit for you. For more information call 512-861-0525. If you have other Austin warehouse space rental requirements feel free to contact us for help finding the right space for your business. 

About This Warehouse Space Sublease

  • Size: Total of 21,600 sf
  • Layout: 2,000 sf of office space (1 office, open area for cubes, break area, 2 restrooms) and the remaining is hot warehouse.
  • Loading Area: 3 dock high loading areas and 1 loading ramp
  • Location: Expo Business Park – Southeast Austin located at 6231 E Stassney Lane, Building 11, Austin, Tx 78744
  • Available: 5/1/18
  • Asking Base Rate: $0.6367 sf per month (negotiable)
  • Estimated NNN: $0.321 sf per month

Expo business park floor plan

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