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Rapidly increasing rents, bidding wars for available space, “take it or leave it” attitudes from landlords - Sound familiar? Many of T3’s clients that are expanding are facing challenging, tightening office-space markets. This is particularly true in San Francisco/Silicon Valley, Boston and areas of New York City. Smart tenants enter the office space search process armed with good data and an experienced real estate advisor by their side. With over 500 client technology companies nationally, our emerging tech sector team is focused on guiding our clients through the office space search and deal negotiation process. Download our complimentary Emerging Tech Tenant Real Estate Survival Guide to start the process. Then give us a call and one of our market experts can help you put together an effective real estate and facilities plan!
In preparing for our trip to SXSW, and even upon return, many of our clients, partners and friends asked why a corporate real estate firm would travel down to Austin, Texas for a conference focused on startups and other emerging trends within the technology ecosystem. During the weeklong event, topics of conversation ranged from discussions about mobile technology, to opportunities in big data management, to Facebook’s IPO, to innovation in banking and the list goes on. Our Emerging Tech team felt right at home.
Recently, I was with a client in Boston helping them look for office space for their dynamically-growing technology company. As is usually the case with tech companies, the focus was on "cool space." That is, something with "character" (exposed brick and beam, open ceiling with exposed air ducts, hard wood flooring or exposed concrete) and with lots of open space, conducive to worker collaboration. We visited a number of different locations around Boston in search of the perfect office space.
Commercial real estate markets in the innovation hubs of the country are booming. Silicon Valley, SOMA, Boston and New York are on the top of this list. The leverage pendulum has swung deep into the corner of the landlord, and pre-revenue, early-stage startups have challenging times leasing office space with flexible terms while minimizing capital expanses (e.g. build-out, buying furniture, etc.). Enter, the Coworking world.
Last week, 100+ people from the New England tech and marketing community came together at the Foundation Lounge at the House of Blues for the MITX 100 Beers Party. It was a spectacularly casual night that focused around meeting new people, reminiscing with friends and, of course, drinking beer. Even a few of the attendees formed an impromptu band that seemed to have a revolving door of American Idol-esque lead vocalists. Despite never having played together before, the group brought the House down (pun intended)!
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