 Real Estate Remains Major Focus for Fading Industries
Industries not surviving changing conditions due to the declining stage of their life cycle are affecting real estate requirements. From 2000 to 2010, these industries have declined dramatically in both revenue and establishments and will continue throughout 2016.
Retail industries include: record stores, DVD, game and video rental, formal wear, and costume rental.
Information industries include: wired telecommunication carriers, newspaper publishing and video post-production services.
Manufacturing industries include: apparel manufacturing, mills, textile and carpets and rugs. Other industries include: manufactured home dealers and photofinishing.
There are many factors that have caused changes in trends that are affecting these industries. These trends include corporation repositioning and resizing property requirements, the replacement of in-store rentals with online downloads and purchases, reduced costs and globalization.
For an in-depth look at the changes affecting real estate and these industries, read full article at Costar.com
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Real Estate Will Move Toward Smart Growth, Outsourcing
As companies take this time to emerge from the financial crisis, they are seeking to restructure and plan strategically to increase productivity. Companies are increasing their outsource servicing. Along the strategic planning, companies are improving corporate health and firms are turning to growth strategies that balance growth and cost control. Read full article at
FMLink.com
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High Building Standards Boost Tenant Retention
In a survey done by Kingsley Associates, more than 1700 tenants at 62 BOMA buildings were surveyed in major markets across the country. Tenants rated their buildings in key areas such as property management, security, maintenance, and green initiatives.
From the results of the survey, Kingsley Associates found that tenants are looking for quality of service, security, efficiency and a building where it is easy for business practices. Tenants also want to do business in energy-efficient buildings. Because of the recession, it has been harder for buildings to retain tenants and the building market has become more competitive. Prices are lower in the market and tenants are looking around to see how much value they can get.
For more information on this article visit Reit.com
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Renovation vs. Rejuvenation
In order to generate more rental income, it's sometimes necessary to put a little work into your property. Upgrades may consist of as little as some simple "rejuvenation" projects to larger-scale renovations. Bathrooms and kitchens are two key areas that play a large role in making or breaking the value of your rental unit as compared to competitors'. For a detailed look on renovation and rejuvenation, visit BuildiumBlog.com
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Developing Maintenance Standards
There may be a challenge when developing a new maintenance program for a new facility. Standards involve the people that need to maintain it to grasp how to adapt the standards. Designing a maintenance program will help save money operationally and make their jobs easier by taking into account the total cost of a product or building system. It is important to receive feedback on a regular basis to implement standards from buildings that have been changed. For more information, read full article at Facilitiesnet.com
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