Like clockwork, every year end the CRE industry experiences a flurry of activity which slows as people begin to wind down. It starts in October once the kids go back to school, gets interrupted in early November, and then all of a sudden there are...
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In 2008, a tenant client agreed to a 6-page green lease schedule to reinforce its corporate commitment to the environment. It was similar to the NSW government’s requirement at the time for its premises to have a 4.5 star energy rating. However because our client...
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Not that long ago, industrial vacancy in Sydney was under 1%. If you were a tenant, there was effectively no choice and rents were climbing during negotiations. For new speculative developments, rents were not advertised until close to Practical Completion (PC) so the highest possible...
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Interesting read in the WSJ on 12 November, Real-Estate Scions Are Breaking a Cardinal Rule: Never Sell, sparked. Every office market has its own idiosyncrasies. Yet some things are standard across all global office markets; countless private owners, markets go down and they recover. In Sydney, previous office market...
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Our previous week’s CREview, noted; Where it [impact of AI] ends up, we don’t know. What we do know, is the last round of “automation technology” slowly and steadily reduced the use of office space from 15 m2 per person in the mid-1990’s to 10 m2 per...
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In late July, we introduced Pullinen Property Group’s ESG initiative, CREcycle. We highlighted, “… energy has dominated the conversation for years, making it easy for the CRE industry to follow suit by focusing almost exclusively on NABERS energy ratings.” But what about the other NABERS? Looking at the...
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There are many reports, views, and predictions about AI and its impact. The recently released Brookings Institute report, Generative AI, the American worker, and the future of work, starts by noting: “To date, most of the discussion around ChatGPT and similar technologies has stayed away from work and...
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Just because we read articles where office buildings in the US get sold for cents on the dollar, doesn’t mean our market should do the same. If it did, there would be buying opportunities everywhere and we would be converting many more office buildings to...
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At the TCN Fall conference in Calgary Canada, Scott Hutcheson of Aspen Properties, Iain McCorkindale of M3 Development, and Maxim Olshevsky of Astra Group, led a great panel discussion, Office: Residential Conversions (ORCs). In 2015, there was a sharp decline in oil and gas prices which...
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Flying overseas this week for the annual TCN Worldwide conference, this time in Calgary Alberta, to discuss the state of the CRE business, markets and where is it all heading. A brief stopover in Seattle on the way has us thinking back to our first visit...
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