Focused, experienced tenant representation pays off for your business.
Few decisions you’ll make as a business leader have more bearing on the success of your enterprise than the costs of the leases for your office headquarters, branch offices and industrial space locations.
That’s why, before you select your next business location, be sure to select Lester and Lester Realty Advisors to assist you in evaluating all your relocation and renewal options and negotiating on your behalf, so you get the most favorable lease or purchase terms.
For more than three decades, Lester and Lester Realty Advisors has ranked among North Texas’ leading and most admired commercial real estate brokers, specializing in representing tenants and occupiers of office and industrial property leasing in a wide variety of industries. In addition, Lester and Lester Realty Advisors also actively represents clients who participate in purchase, build-to-suit and sale-leaseback transactions.
No other tenant-representative broker possesses a more comprehensive and in-depth understanding of all the elements that go into making your relocation or renewal selection process come off flawlessly while at the same time delivering more value to the whole process than Lester and Lester.
Choose Lester and Lester Realty Advisors, and you are assured of smarter, personalized tenant representation that will pay off for your business.
Latest from The Occupant Advisor: Coworking Space and Its Effect on Tenants
If you live in a major metropolitan area, you likely have several coworking space options at your disposal. In 2018, more than 2,000 coworking spaces opened around the world, with 1,000 of those being in the U.S. By 2022, there will be almost 26,000 coworking spaces worldwide.
Coworking spaces are defined as shared workspaces that offer a combination of subscriptions, day passes, and open houses to allow professionals to use their resources. These resources typically include all the features of a conventional office: desks, meeting rooms, open collaborate spaces, and often amenities such as kitchens and/or break rooms.
Coworking spaces are increasingly popular due to their versatility and value they provide to their communities. The largest boom in this area is likely due to the gig economy: more than 3.9 million Americans now work from home at least half of the time. That is a lot of people working outside of a traditional office environment. While working in the privacy and comfort of one’s own home has unique advantages, some may miss the occasional hum of nearby coworkers, the hustle and bustle of corporate America, or the need for a professional location for client meetings. Coworking spaces offer the perfect middle ground
What does this mean for tenants and the CRE industry?
The explosive growth of coworking space is dramatically changing the way real estate investors and lenders value assets and how companies think about space for their employees. The law firm Ropes & Gray recently conducted a survey of 100 senior executives in real estate—including investors, lenders, landlords, brokers, tenants and coworking companies—examining key growth drivers, potential risks and challenges, the likelihood of consolidation, and how coworking will fare in a market downturn. Their findings indicate that corporate tenants are increasingly turning to coworking operators for shorter-term and flexible office arrangements. Coworking has also disrupted traditional methods of real estate valuation and has created downward pressure on the average term for office leases. Additional report findings and much more information are reported here: