Technology is taking over the world of commercial real estate by storm. New tools, online platforms, and decision-making algorithms are popping up constantly. Some real estate professionals even declare that nowadays, technology is the master of CRE. But, is it really true? Can tech replace relationships in the world of CRE? Does Commercial Real Estate…
As you might imagine, over the 24 years I’ve owned and operated my Indianapolis based tenant representation firm, CARMEN Commercial Real Estate Services, I’ve had the opportunity to see firsthand the many missteps tenants take with respect to office leases. As a matter of respect to the business community that has provided me with…
When counseling business owners and managers on leasing office space and industrial property in Indianapolis over the past 25 years, since founding CARMEN Commercial Real Estate, one of the most common questions I’ve been asked is: “Does it make sense to buy a building instead of leasing my real estate?” On the surface, the…
My team had a recent experience that provided us with a discouraging view of the commercial real estate brokerage industry. Arthur Rutenberg Homes is a medium-sized Florida-based company that recently opened its first Indiana office. After completing their project, Paul Hanson of Arthur Rutenberg Homes called and wanted to offer a testimonial of the…
“What could be so hard about finding office space for my company?” Sounds like a fair question. And honestly, finding commercial property for lease isn’t all that hard. It’s finding the perfect space for the right price with the right terms that’s hard, if not impossible, without having a tenant representative in your corner. How…
This is the question we’re often asked by Indy entrepreneurs contemplating or starting a new venture. The reason? Because there are no hard and fast rules that define when is the right time to move to traditional office space. How Does a Startup Select an Office? As a result, it’s not uncommon to see startups signing office leases before…
https://youtu.be/0dIkJWcuTxg It’s a year and a half before your office lease is up. There are many reasons why you might be considering a move to new office space: maybe you’ve experienced growth, want to attract younger talent, or want a start fresh with an open concept floor plan popular today. Whatever the reason, office…
A business retains an outside accountant for financial support of the business. They have an attorney for questions regarding the legal aspects of running the business. But with the office facilities playing such a significant part in operating a business, why wouldn’t a business be supported by an expert on office space? They should be. And that’s…
With so many elements involved in planning and relocating or expanding your office space, it is easy to overlook some of the most important functional items. One of the most underestimated variables is the amount, size, and type of meeting spaces that will be needed in today’s office. Meeting space must be considered and planned for, no matter what…
Has your office jumped on the open office layout bandwagon? If not, you are in the minority according to a Washington Post article. The International Facility Management Association states that 70% of U.S. offices are either completely open or have low partitions. While Silicon Valley led the way, the open office plan clearly strikes…
The following is excerpted from Entrepreneur’s Ask the Money Guy, Joe Worth. When a concerned reader asked, “Any advice on how to lease my new location without getting ripped off?”, Entrepreneur’s Joe Worth had some answers. He shared 12 crucial criteria to consider, highlighting the need for proactive planning and shopping for a commercial real estate broker, specifically…
I recently participated in a discussion on the most important variable in making start-up and early-stage companies successful: funding of capital or a talented leadership team. My firm, CARMEN Commercial Real Estate Services, is a professional service provider to many early stage technology companies. I have also personally invested in a number of startups, so…
Let’s face it: we now live in a millennial-driven workforce. The demand for modern, creative, and appealing office space creates a massive opportunity for sharp business owners who are clever enough to retain and attract top talent. It can be a real challenge for the owners of aging, old-school office sites and work environments.…
Indiana has done a stellar job of attracting companies to relocate within its borders over the past few years, actively recruiting businesses with financial incentives, low corporate taxes, and low operating costs. These companies have good reasons to pull up stakes elsewhere in order to reap the benefits of relocating to Indiana. Nationwide, Indiana…
The concept of “Blend & Extend” with regards to commercial office industrial space leases is certainly not new. However, throughout the downturn of the economy, there’s been a considerable amount of new life breathed into the practice, with many companies clamoring to take advantage of rock-bottom lease rates and liberal landlord incentives, even though their current…
As you might imagine, over the 24 years I’ve owned and operated my Indianapolis-based tenant representation firm, CARMEN Commercial Real Estate Services, I’ve had the opportunity to see firsthand the many missteps tenants take with office leases. As a matter of respect to the business community that has provided me with a livelihood during…
The following blog was originally published on American Express’ Open Forum by Nicole Cober, Esq., Small Business and Legal Analyst, NewsChannel 8. @Niccober. *Original content has been edited and modified for length. As you think about business expansion, several key characteristics should be in place. First, your management team and operational systems should be clearly defined and be functioning smoothly. Second,…
I’m always intrigued by the comparison of office rental rates with industry colleagues located in other U.S. and major foreign cities. When you look at Indianapolis office space versus other major cities around the world, the contrast can be shocking. The inexpensive Indianapolis office market sharply contrasts with major cities around the world, as evidenced by a…
Indianapolis and the surrounding areas of Carmel, Fishers, and Noblesville have become some of the best communities in the USA for families to live due to their low costs of living and high quality of life. And, that very same reason has prompted businesses to jostle for the available commercial real estate for rent…
You’re not alone in considering if it would be a better decision to purchase your own office space instead of continuing to lease office space. Yes, every organization is unique with its own set of specific needs, but there are major common factors that come into play for every business when evaluating your next…
Indianapolis is continually rising as one of the best cities to live in terms of cost of living. Businesses are continuously considering relocating to Indianapolis due to the growing popularity of the Midwestern city as well as the relative value of their real estate costs. Finding the right office space can be exceedingly stressful…
There isn’t a state in the U.S. that isn’t competing to strengthen its economy. The competition? Every other state in the union. The prize? Companies….which bring jobs, keeping the populous happily employed and creating a tax base that supports state and local infrastructure and services. The key to winning the competition is creating the…
An article in the Indianapolis Business Journal chronicles the story of a couple who moved from Chicago’s northern suburbs to Carmel, Indiana. Not surprisingly, they are finding that their dollars go a lot further in central Indiana in everything from housing to daycare to taxes. Along with their story, the article shares the good…
Disputes between landlords and tenants can take many forms. We take a look at how this business aggravation can be remedied with the guidance of tenant representation and present options for managing a tenuous landlord situation. Dealing with a difficult landlord can be an aggravating, time-wasting ordeal for business owners and managers responsible for the real estate decision…
Indianapolis has quickly become a hidden secret in the digital marketing and tech community. With heavy hitters like Salesforce, Angie’s List, and ConstantContact calling Indianapolis home, it’s no wonder. We have a strong, deeply connected community of professionals who are disrupting the status quo and pushing the envelope on what’s possible. Economically, it’s a…
Indianapolis does not have a shortage of advantages when comparing the Midwestern city to others throughout the country. One of the most highly influential factors is the cost of living. A recent study conducted by Point 2 Homes highlighted Indianapolis as #4 for the best value when seeking a home. The study specifically focused on homes for $300,000 in cities such…
You’ve concluded that an office relocation is imperative. For any number of reasons, you’ve made the decision to move. Maybe you were in your old space and believe an image makeover is needed to attract new talent. Or maybe you want to be located in a more urban area as a means to attract your company’s target…
I recently read a peer’s blog post titled “5 Signs You Need New Office Space”, which I thought was valuable and worth sharing. However, I believe what might be more relevant is the top reasons today’s tenants decide it’s time to find new office digs. I’ve come up with the list below, which has some…
Most tenants are unfamiliar with negotiating an office lease renewal. Some may not even realize they have the opportunity to do so! Typically their broker advised them of their current lease, so they are not aware of what terms to negotiate in the first place. With the vast amount of factors involving a renewal,…
With recent announcements of expansions and relocations of tech companies to Indianapolis, there has been an increase in the demand for top talent, particularly with computer science skillsets. The new Silicon Prairie is gaining recognition for its tech sector and business-friendly environment, grabbing the attention of not only local but nationwide millennials. The demand for tech-related…
Indiana continues to be the new home of tech companies with the relocation of Emarsys’ headquarters to the state’s capital. The news of the Austrian company’s relocation to Market Tower was released early 2015. Emarsys’ expansion is actually ahead in its planning schedule. The company sought a city with an ample supply of tech talent,…
Startups are becoming increasingly familiar with the tech industry surging with growth, innovation, and talent. Although starting a tech business may seem like an exciting endeavor, plenty of uncertainty tends to hover around the idea of creating one. One of these uncertainties is the startup’s initial office space. Must Read: BaM Featured in Indiana Business Journal for…
For years, researchers have theorized about the amount of productivity gained or lost from employees working from home. Each business is different in its potential to allow employees to work remotely, depending on the industry, time spent facing clients, and staffing. Recent studies are showing the number of employees working from home has increased significantly during the…
When a business owner or manager considers relocating the business, it’s not uncommon for them to consider a number of locations to find the best fit for their business. Although each business has its own unique needs, some variables are pretty consistent when businesses shop for office space: The Variables: Location and access Condition of…
Today, Determine Inc. announced the relocation of its corporate headquarters to Carmel, Indiana. The San Mateo, the California-based company, a provider of SaaS management and solutions, marks another win for Indiana as it grows in its reputation as a tech hub. In an interview with Inside Indiana business, CEO Patrick Stakenas acknowledged Indiana’s growing…
“Don’t allow yourself to be backed into a corner.” I’ve repeated this phrase to countless business owners and managers when discussing office lease expiration. I’ve spent much of the past 31 years negotiating office leases on behalf of businesses and consistently the most important thing you can do when negotiating the terms of an…
It’s common knowledge that the technology industry is booming, with new startups emerging at a rapid pace. With newfound growth, these companies are also considering relocation and the criteria that merits a move. Indianapolis has emerged as an appealing target, earning a reputation as a tech hub of the Midwest. In 2015, TechPoint conducted a study to examine the impact the tech…
Since starting my career leasing office and industrial space over 30 years ago, real estate abatement has consistently been a tool that landlords use to procure new tenants. In addition to simply being a landlord incentive for tenants to lease space in a particular building, rental abatement, a/k/a Free Rent, can also serve a few specific purposes for…
As reported in today’s in IBJ.com, Carmel, Indiana, tech startup LabelNexus has evolved from its R&D name to its official name of Lumavate. We’re very proud to be selected as Lumavate’s real estate partner/service provider.With such a strong management team, led by CEO Paul McGrath, as well as tech veterans Bill Godfrey and Rob McLaughlin, we’re certain…
The following blog was originally published on American Express’ Open Forum by Nicole Cober, Esq., Small Business and Legal Analyst, NewsChannel 8. @Niccober. *Original content has been edited and modified for length. As you think about business expansion, several key characteristics should be in place. First, your management team and operational systems should be clearly defined and function smoothly. Second, profits…
The ongoing debate around the ideal work environment – open office layouts, co-working space or a remote workforce, leads to the inevitable question of: “How will we choose?” This post is a reference for several options for your workspace, as well as the benefits and drawbacks of each solution. The latest Grasshopper blog: Modern Workspace: Offices, Coworking &…
Top commercial real estate agents, Indianapolis agents, and agents elsewhere will agree. Working directly with tenants or potential tenants can be challenging. Why? Well, it isn’t the tenant’s fault, but they are typically unfamiliar with the commercial real estate process. Lease negotiations, tenant improvements (office build out, construction improvements) and other nuances specific to the…
When you’re searching for a home, you have to consider the costs that you may incur with realtors on the buying and selling side. But when tenants consider who they hire for leasing or buying office space, many don’t realize that tenant representatives never collect from you for their service. And that’s not the only benefit. 1. It’s free…
I began my career in Indianapolis commercial real estate nearly 30 years ago and launched my own business, CARMEN Commercial Real Estate Services in 1993. In the 22 years since starting CARMEN, I can honestly say it has been and continues to be a learning experience…about business, about people, and about life in…
Whether it is the start of an office lease or a lease renewal, the lease negotiation process is a critical time for determining a successful outcome of the tenant’s lease utilization. The negotiation process offers the opportunity to discuss, negotiate, and agree upon wants and needs with the landlord, in order for the tenant to walk away…
As a design partner for Carmen, clients often seek my expert advice on colors to use in their office space. We find that many companies are increasingly interested in how they can use color to create a productive, functional, and aesthetically pleasing design in their workspace environment. Have you ever considered that something as simple as the color of your office walls could make employees MORE productive? Research states that visual…
