Commercial Investment Real Estate

MAY-JUN 2013

Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.

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the same time, 100 to 150 sf is closer to what some of the larger public frms are now achieving. Moving forward, we will see some frms achieve less than 100 sf per worker, but given the cultural impediments and the challenges of predicting growth rates, we are more likely to see fgures average 150 sf to 185 sf per worker phasing slowly toward even lower fgures at the end of the decade. Tis is a signifcant reduction is space per worker, but it parallels a need to retroft much of the existing space to provide more collaborative team space and healthier, more productive environments. At the end of the day, landlords are not selling space but rather productivity. More productive environments with better natural light, temperature and air controls, cleaner air and controllable noise are more productive and will command rental premiums. Office Space per Worker by U.S. Industry Median sf, mid-2012 450 411 400 350 300 265 257 250 312 300 280 275 265 210 200 150 120 100 50 fir m s t w en ve go Fe de ra l La nt s rn m ta ts un Ac co ite c l cia an ch Ar ce Fin ur an Ins ut er s mp Co ica tio n te ta es un Co mm al Re ll c en ter s 0 Ca Norman G. Miller is a professor at the Burnham-Moores Center for Real Estate at the University of San Diego. Contact him at nmiller@sandiego. edu. Roger J. Brown, CCIM, is executive scholar at the BurnhamMoores Center for Real Estate at the University of San Diego. Contact him at Rjb21@cox.net. The article is adapted from a longer paper, "Changing Trends in Office Space Requirements: Implication for Future Office Demand." Source: CoStar Tell Your Clients Who You Really Are. Want to make sure your clients and potential clients know you're a CCIM? Ten afx your business card to the latest copy of Commercial Investment Real Estate magazine and leave it with them afer your next meeting. Or mail a copy with a personalized note. Bulk copies of CIRE are available to CCIM designees at greatly reduced prices for use in their personal marketing campaigns. 5 copies 10 copies 30 copies Current Issue $15 $25 $60 1-Year Bulk Subscription (6 Issues) $90 $150 $360 Limited quantities available, so call today to place your order. Shipping fees will be added to non-U.S. orders. Call 800-621-7027, ext. 4507. CCIM.com May | June | 2013 41

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