Building Classifications Part II: Explained BOMA’s CRE Building Classification System BOMA‘s metropolitan base lists three Commercial Real Estate Building Classifications in their classification system. In order to compare properties across international markets, landlords and property investors typically use a separate international base. However, the metropolitan base is used within a single office market. It is…
Insights from a Millennial Professional Ready or not, the workforce is becoming more millennial. As of 2016, millennials make up the largest percentage of employees in the United States. Within the next 5 years, they are expected to make up 75% of the total working population. In addition, millennials are more educated and diverse than…
CRE Building Classification Standards When looking for new locations, tenants may come across buildings touted as “Class A”. Landlords also advertise properties as having “Class A finishes.” To an inexperienced buyer or renter, the meaning of this class distinction is a mystery. “Class A” sounds like a good grade. It’s better than a “Class D”…
The CRE Timeline It’s hard to imagine, but I keep our office CRE timeline handy on my desk at all times. And there’s a good reason why! I can’t begin to tell you the number of times someone has called our office with the conversation going like this: Me: Good afternoon! This is Dana. How…
Common Area Maintenance (CAM) in all its mystery. First, let’s start with trying to define the common area. What is Common Area Maintenance? Common Areas can be lobbies, hallways, elevators, bathrooms, sidewalks, parking lots, landscaping, rooftop decks, shared amenities, and so on. These areas within a building enhance the feel or usefulness of a space….
3 Considerations Getting ready for an office building tour and a home tour are very much alike. I’m selling my house. It’s been 16 years in the suburbs and I’m ready for urban, walkable living. We had a realtor walk through the house to help us get it ready to sell. She went through every…
Our Project Life Cycle At Found Advisors, we approach all projects and clients with a fresh mindset, because we realize not all clients are the same. Depending on how much time each client has and how far along in the commercial real estate process they already are, we work with them at various stages of…
Is the CBD in Pittsburgh a tenant’s market? A ‘tenant’s market’ is a term used to describe a real estate market. In a tenant’s market, tenants hold the upper hand over landlords during negotiation. This can occur when vacancy rates rise in a certain area. When vacancies increase, landlords provide tenants with incentives that…
An Act of Kindness or A $100 Backpack I’ve been thinking a lot lately about the phrase “random act of kindness”. Every day on my way to class, I see the same faces. They are on the corner of an intersection or sitting in the shade of one of our city’s many bridges. In addition,…
Random Acts of Kindness Bear with me for a moment. It may not seem like it, but I promise I’ll get to the point of this blog – random acts of kindness! I played the flute most of my life. I say it in the past-tense because I haven’t picked up my flute in quite…
Keep the new ideas rolling in Cultural change is a real issue – at home and at work! Every year, since I was 12, my family has taken a beach vacation. Most of those years, we have gone to the same place – Bethany Beach, Delaware. It’s familiar and easy for us to get to…
This is a picture of my treadmill desk at the office. Remember the movie, Up? I loved every part of it – from the tear jerker beginning to the happy ending and everything in between. Among other things, I think it’s because I relate a little too much to the talking dog. You know the…