The below Case Study was published in the Fall 2018 edition of SIOR Magazine. Click here to view the full edition.
We’re pleased to announce that the firm has been ranked #16 in South Florida (#1 in Palm Beach County) by the South Florida Business Journal in their 2017 list of Commercial Real Estate Property Management Firms.
Thanks to Katherine Kallergis of The Real Deal Miami who shared news about our recent additions in her Movers & Shakers column.
“NAI/Merin Hunter Codman brought on a slew of new brokers and accounting professionals. Alexandra Bazo joined as a commercial associate, Jeffrey Cebula as a senior associate, Jaime Chamberlin as a marketing analyst, Maxwell Pawk as a commercial associate, April Pearson as controller, Daria Salha as a property accountant and Christopher Smith as a commercial associate.”
In the future, connectivity may be an even more important factor when purchasing office space than location or price, some are predicting. Just like every office first had to be wired for telephone systems, then coaxial cable for the internet, and now wireless, in the future Smart technology will be standard for all office buildings.
Office space itself is already changing dramatically. More often than not, there are multiple companies in one building instead of one company per building. Outside of the building, office space is becoming more like a university campus designed just for office tenants. What will the office of the future look like? Here’s a glimpse:
Walls that Can Talk
By 2050, the office environment will be completely immersed in technology. We expect to be able to talk to walls without the need for a mobile device or app to tap. Projector screens will be unnecessary and video conferencing will be setup through the wall behind giant HD screens – maybe even holograms.
Augmented reality and virtual reality technology is only going to enhance those immersive technologies. Expect the office of 2050 to look more Star Trek like than ever before. Humans will still be necessary but technology will enhance our abilities combining “our horizontal intelligence, with the vertical execution capabilities of artificial intelligence.
Couches Instead of Desks
Already traditional desks and offices are changing. Expect that to only get more fantastical by 2050. Not only will the lines be completely blurred between work and life, or better stated, the office will be a place of social gathering primarily, most employees will only dip into the office from time to time.
Currently more than 40% of the workforce works remotely at least part of the time. That will increase the need for businesses to provide office environments that are more comfortable and inviting in order to encourage workers to come to the office.
Smaller Spaces, Fewer People
Since there will be fewer employees working Monday through Friday, 9 to 5 in the office, the office space itself will continue to shrink drastically. Of course, there will still be a need for regular employees who reside in the office on the traditional office schedule but even their work will be less restricted and more flexible.
Offices Will be Customizable
No more “cookie-cutter” offices in 2050. All office buildings – walls, floors, cabinets, equipment – will be customizable. Rooms will be convertible to serve multiple purposes at different times. Imagine tapping a switch and a partition divides the room, turning it into a brainstorming session that won’t disrupt the rest of the office.
Everything Will be So Very Green
Thirty years from now, we expect that climate change and energy conservation will no longer be debatable. Businesses will recognize the financial savings and work efficiencies embodied in green technology (as many are now) and employees will demand it.
Considering that the workforce in 2050 will largely be made up of Gen Y and Gen Z who are already green oriented, every office building will be a green building. That includes mandates requiring builders to use all sustainable materials perhaps and regulations requiring buildings to meet much more specific green standards.
About NAI/Merin Hunter Codman
Through our corporate services group, NAI/Merin Hunter Codman provides value-added tenant representation and corporate services for corporations with local, national or worldwide real estate needs. The firm serves as a single point of contact, whether for one property or hundreds of properties or leases. We assist in evaluating opportunities, optimizing existing portfolios, planning new facilities, site selection, and managing and leasing corporate facilities, aided by award-winning technology that allows the firm to monitor and flag every step electronically, tailored specifically to client needs. Electronic monitoring is available for client review from anywhere in the world and can track everything from real-time status of leases up for renewal and milestones in capital improvements, to the progress of planned developments.
– Tenant/Buyer representation
– Demographic, market data & feasibility analysis
– Relocation studies
– Property, facilities and asset management
– Due diligence
– Investment acquisition/sales
– Development/redevelopment analysis
– Structured lease finance
NAI/Merin Hunter Codman’s history of prestigious clients includes: BP Amoco, Wackenhut, Nextel, Walgreens, Spring, Amdahl, Oasis Outsourcing, GTECH Corp., Jennifer Convertibles, Daleen Technologies, Christofle, Christian Dior, Foster Wheeler Environmental Corp., Lydian Private Bank and many others.
As a landlord, you’re always looking for ways to give a boost to the bottom line. With technology a huge part of that bottom line these days, it only makes sense that you’re going to look to it not only to increase revenue but to improve your tenants’ experience as well.
So what are the ways in which you can do this? Here are a few that we’ve collected:
● Use machine learning and artificial intelligence for optimal pricing strategies. With many new companies emerging with the exact intent of using data analytics and machine learning to predict rent-related factors, you won’t have to do all the heavy lifting yourself. These companies include Enodo as well as HouseCanary – but you’ll be able to find many competitors out there as well.
● Include high-speed internet in the rent, which in turn increases the rent you’ll be able to charge. Starry Internet is a great example of in-house internet that you can install, giving tenants quality internet connection and yourself a reason to increase your rent roll.
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, announced the acceptance of the U.S. Environmental Protection Agency’s (EPA’s) prestigious ENERGY STAR on behalf of 951 Yamato, a 146,000-square foot, Class-A office building located in Boca Raton. By meeting these strict standards, 951 Yamato is saving energy, saving money and helping protect the environment by generating fewer greenhouse gas emissions than typical commercial buildings.
Energy efficiency and reducing tenant overhead costs were at the forefront of 951 Yamato’s recently completed million-dollar property improvement program which included environmental sensitive upgrades such as changing all common area lighting to LED and installing electric smart car charging stations for tenant and visitor use. A partial list of additional property improvements include: modern white, gray and striking gold exterior paint, new monument signage, new carpet and furniture in both the east and west entrances, as well as new tables and chairs in the soaring two-story, 8,000-square foot atrium where tenants can be found hosting events, taking informal meetings and gathering for lunch. A state-of-the-art shared tenant conference room is also being constructed at 951 Yamato.
West Palm Beach, Fla. – Following its recent move into a dynamic new 10,000-square foot headquarters at Centurion Tower in West Palm Beach, Florida, NAI/Merin Hunter Codman, one of South Florida’s leading commercial real estate firms, has announced the hiring of several new professionals, growing its brokerage and accounting divisions.
Jordan Paul, Chief Executive Officer of NAI Merin Hunter Codman said, “We are thrilled to have attracted a broad and highly accomplished group of new team members. Our recent hires include both seasoned professionals and talented millennials who together bring great expertise and energy to our firm allowing us to continue to provide first-class service to our institutional and private equity clients.”
NAI/Merin Hunter Codman’s hires include five new commercial real estate brokers and two accomplished and experienced accounting professionals. NAI/Merin Hunter Codman currently represents over 5,000,000 square feet of assets throughout Florida in a property management, leasing or sales capacity.