Tag Archives: Wolf CRE


WCRE Third Quarter Report: Fundamentals Remain Strong

SOUTHERN NEW JERSEY & PHILLY CRE MARKETS PERFORMING STEADILY

October 6, 2017 – Marlton, NJ – Commercial real estate brokerage WCRE reported in its latest quarterly analysis that the Southern New Jersey market is in good shape, but remains in somewhat of a holding pattern.

“For most of 2017 we have seen an overall positive tone and conditions that usually indicate a period of strength,” said Jason Wolf, founder and managing principal of WCRE. “The national economy has been adding jobs, the financial markets are on a hot streak, and our market continues to attract outside investors – yet increased activity and enthusiasm are tempered by trouble in the retail sector and uncertainty related to current events.”

There were approximately 421,113 square feet of new leases and renewals executed in the three counties surveyed (Burlington, Camden and Gloucester), which represents an increase of approximately 6.6 percent compared with the previous quarter, and a 15 percent increase over the same period last year. While leasing showed moderate gains, the sales market was quite active during the third quarter, with more than 1.76 million square feet worth more than $105 million of completed sales transactions trading hands.

New leasing activity accounted for approximately 43.3 percent of all deals. Overall, net absorption for the quarter was in the range of approximately 91,600 square feet.

Download The Report (PDF) >>>

Other office market highlights from the report:

  • Overall vacancy in the market is now approximately 9.75 percent, which is a solid improvement over the previous quarter.
  • Average rents for Class A & B product continue to show strong support in the range of $10.00-$14.50/sf NNN or $20.00-$24.50/sf gross for the deals completed during the quarter. These averages have stayed within this range for most of this year.
  • Vacancy in Camden County maintained its dramatic improvement, standing at 10.8 percent for the quarter, down from 13.3 percent at the beginning of the year.

WCRE has expanded into southeastern Pennsylvania, and the firm’s quarterly reports now include a section on transactions, rates, and news from Philadelphia and the suburbs. Highlights from the first quarter in Pennsylvania include:

  • The Philadelphia industrial market continues its hot streak, and the outlook is positive. Vacancy rates for flex and industrial properties in Philadelphia are well below the regional and national averages, and this is expected to continue.
  • Philadelphia’s office market continues to gain strength across the board, with far lower vacancy rates than regional and national averages for both Class A and Class B properties in the Central Business District and the suburbs. We see increasing employment and new construction, both of which bode well for continued strength.
  • The Philadelphia retail sector is the one area that is not performing well. It has been affected by the same challenges facing retail businesses everywhere. Namely, the massive shift to online retailing and away from brick-and-mortar. Still, there were some positive signs amid the announced store closings and bankruptcies. Community shopping centers remain an area of strength in the market, with vacancy rates nearly half the national average.

WCRE also reports on the Southern New Jersey and Philadelphia retail market, noting slight declines in consumer confidence and related metrics as the third quarter wound down. Overall retail sales were 3.2 percent higher this year compared to 2016, and were likely impacted by the major hurricanes affecting Texas and Florida in late August and early September. Highlights from the retail section of the report include:

  • Retail vacancy in Camden County stood at 9.5 percent, with average rents in the range of $12.47/sf NNN.
  • Retail vacancy in Burlington County stood at 10.7 percent, with average rents in the range of $13.38/sf NNN.
  • Retail vacancy in Gloucester County stood at 7.9 percent, with average rents in the range of $14.10/sf NNN.

The full report is available upon request.

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long-term growth and success.

Learn more about WCRE online on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

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Protect Your Property Against Attractive Nuisance Dangers

attractive-nuisance-dangersThe following article explores how to protect your property against attractive nuisance dangers. Although property owners are generally not responsible for protecting trespassers, in some cases, landowners or those who occupy land under leases can be held responsible for injuries to children that are caused by man-made conditions on the property. Considered attractive nuisances, these might include buildings, construction sites, heavy equipment or even man-made ditches.

Property owners have the power to thwart entrance onto their property and discourage young trespassers from getting hurt. One might use fencing, illustrated signs or other means to prevent children from entering the property and potentially injuring themselves. If you have any reason to believe that children might trespass onto your property or in your facility, treat the problem with the highest gravity. Doing nothing to prevent the entry or injury of trespassers creates a serious financial risk for your company.

Owner Liability in attractive nuisance dangers

As the owner of the property, you are responsible for taking steps to assure that anyone who enters, whether welcome or unwelcome, stays safe from injury. While warning signs are an excellent start, many children may not be able to read them, so it is important to find additional ways of protecting your property.

Ensure that gates are secured and fences are not easily climbed. Adequately protect any conditions,
including pools, ditches, walls or other man-made physical features, that might present a hazard. This may mean covering the pool to avoid accidental drowning, placing sturdy fencing around hazardous areas or placing warning or “No Trespassing” signs. In addition, all safety equipment should be stored and locked at the end of each shift to avoid trespasser tampering.

Premise Liability in attractive nuisance dangers

Property owners are also liable for the maintenance and security that the property needs so that it remains safe for all visitors. This includes the following:

• Fixing cracks or gaps in walkways to avoid slip and fall dangers
• Locking all hazardous tools, equipment and chemicals away from the public
• Ensuring that employees can conduct work duties without the risk of injury
• Hanging flood lights in areas with low visibility
• Hiring security guards for added protection
• Installing rescue equipment, such as ropes and poles, when necessary
• Installing alert devices, such as flashing lights, sirens, alarms and telephones to alert security that
someone has trespassed onto the premises

With regard to attractive nuisance cases, negligence means that the property owner was aware that someone could get hurt on the property and did nothing to prevent it. If you take all necessary precautions to protect individuals that are on your property, you are less likely to be found negligent in a premise liability suit.

For more assistance in protecting your property and your business, contact Hardenbergh Insurance Group today.

brian-blaston-hardenbergBrian Blaston
Commercial Lines – Manager
Hardenbergh Insurance Group
phone: 856.489.9100 x 139
fax: 856.673.5955
www.hig.net

5 Self-Defense Tips for Realtors

Self-Defense Tips for RealtorsLet’s look at some self-defense tips for realtors. As in any job, but especially in real estate, agents have the possibility of being confronted with the threat of physical attack Unfortunately, the majority of employees are typically armed with little to no self-defense awareness. In fact, in a recent survey conducted by the National Association of Realtors, 40% of the respondents reported that they had experienced a situation that made them fear for their personal safety or safety of their personal information while on the job. Below, we’ve outlined 5 self-defense tips for realtors that can help all real estate agents protect themselves while on the job.

Download Printable PDF Article >>>

1. Unlock the doors and perform any safety checks prior to your prospect’s arrival. Make sure all exits are unlocked and clear of obstacles.

2. Never walk into a property first. You already have the door unlocked and open. Step aside and allow your prospective buyer to go in first. If you walk in first, it’s easy for your would-be assailant to lock the door behind him and proceed with the attack.

3. Maintain a personal comfort zone. There is no reason for a person to be within 3 feet of you at any time without permission. If attacked, stand your ground. You are far less likely to survive an attack if the perpetrator moves you from one location to another. Don’t let an attacker force you into a car, as this will decrease the chances of emergency responders finding you with enough time to save your life.

4. Breathe. This is often the first thing people forget to do in an assault. The easiest way to prevent this is to start yelling. Yell at the attacker to stop. Yell at them to go away. Or simply yell “NO!” Target sensitive areas. There are several areas of the human body that are very sensitive to attack. Pinch together all five fingertips of one hand and go straight for the eyes. If the attacker is behind you, jab your elbow into the face, throat or pit of the stomach.

5. Take a self-defense class. You can never be too prepared in an attack. Learn the most effective ways to fend off an attacker from a trained professional. At the end of the day, the most important point is that you make it out alive.

If you are interested in learning more about these and other self-defense tips for realtors, please contact:


Mike Andrus

Personal Security Expert
Guard Llama
MAndrus@guardllama.com
(215) 370 -1650
www.guardlama.com

WCRE Adds Accomplished Business Development Officer Tom Bove

Tom Bove to Expand WCRE’s Relationships in Professional Service Sector

Tom BoveWolf Commercial Real Estate (WCRE) is pleased to announce the hiring of Tom Bove, who will serve as Business Development Officer.  Bove brings more than 20 years of sales leadership and business development experience to complement the skilled team at WCRE. 

As Business Development Officer, Tom will work closely with WCRE’s sales professionals and its Director of Strategic Relationships to generate new business relationships with service professionals in the region.
A consummate business connector and manager, Bove has developed an extensive network of trusted relationships leading sales teams and managing customer accounts for the past two decades.  In addition, his experience in the tech and IT sectors will open new avenues of opportunity for WCRE.

“Each new member of our team strengthens our ability to meet specific client needs,” said Jason Wolf, founder and managing principal of WCRE. “Tom brings a valuable background as a leader who can build and manage new business relationships, allowing WCRE to serve clients in new ways.”

Download Printable PDF>>>

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

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Improve ROI by Utilizing Office Space

utilizing office spaceHow can you increase the return on your investment by utilizing office space? When a business makes an investment, they expect to see a return on that investment. So it is important, that when making design decisions that you first establish the outcomes that you expect and that the interiors solution provider that you are working with knows how to use design to achieve those outcomes to help you
reach your corporate goals.

Download Printable PDF>>>

Utilizing Office Space for Employee Engagement

Each year, actively disengaged employees cost U.S. companies between $450-$550 billion in lost productivity. Making sure that employees are engaged in the job that they do, will have a big impact on your business. Not only will it make a work more meaningful for your employees, but it will employees will have a sense of purpose.

Incorporating flexibility and adaptability into an office creates a balance within the space. By using adaptable desks, lounges, phone areas and touchdown spaces, workspaces should contain different types of spaces within one space for employees to engage in collaboration or focused work. Designing your space to reflect your company’s core values will consistently support employee engagement.

Utilizing Office Space for Retention and Recruitment

As employee engagement increases, so does retention rate. In fact, recent studies have found that strategic office design has a huge impact on the overall satisfaction of employees. By incorporating design features such as an natural lighting, adjustable and multi-use furniture and a variety of workspaces to supplement an open floor plan increases employee retention.

As far as recruitment goes, by 2020, 40% of the workforce will be millennials, and the new workforce wants to feel connected and engaged in the work that they do. In addition to the other design features mentioned, top talent is looking for flexibility when choosing a job, so why not allow for easy access to technology in your space. By having a state-of-the-art design in the workspace, not only will it optimize efficiency and productivity, but it will attract the best talent to your company.

Utilizing Office Space to the Max Per Square Foot

In order to maximize spatial efficiency, will keeps cost down and increase profit. So designing your workspace
to be flexible and adaptable leaves room for your business to grow and change as needed. For example, current
seating trends such as hoteling, benching and hot desking decrease the amount of square footage needed per
employee which will allow room in your workspace other needed areas like touchdown spaces, quiet areas,
collaborative spaces or meeting rooms.

Most businesses are pretty conservative when it comes to design spending, but when you strategically plan design investment to achieve certain outcomes, not only will you see a big return, but you will maximize productivity, increase competitiveness and achieve your corporate goals.

Bellia President, Anthony Bellia understands and values the importance of helping clients succeed by providing a seamless experience when furnishing commercial interiors. Bellia Workspace Solutions is a family owned and run business with over 40 years of experience and service to the community. Their clients’ visions and goals are the motivation for probing into the culture, style and nature within workspaces. It is his mission to help companies within the Tri-state area be more magnetic to remain strong and continue to grow by attracting top talent, building spaces that provide flexibility in the future, and creating branded environments that support the company message.

Anthony Bellia

 

Attracting and Retaining Talent with Well-Designed Workplaces

Attracting and Retaining Talent1Let’s explore attracting and retaining talent with Well-Designed Workplaces because at the end of the day: IT’S MORE THAN JUST A PAYCHECK. Keeping workers satisfied through compensation is a high priority for organizations desiring to lower turnover rates, which can have negative effects on profitability and morale. But for many people, their job is more than pay and benefits. Where they work—and what their organization stands for—carries significant weight. What makes one organization more attractive than another to existing and prospective employees lies in its core values, which are expressed through its culture and brand. These values are weighed differently among individuals—and among generations.1

Today it’s more critical than ever for organizations to attract and retain top talent, and one component that can be used for recruiting, but is often overlooked, is the workplace. It’s more than just desks and chairs. Research shows that the work environment accounts for up to 25% of job satisfaction.2 Offering workers an attractive package that includes fair compensation is one way to help keep workers satisfied. The next step is for organizations to invest in a well-designed workplace that communicates its commitment to company values and brand.3

Download Printable PDF>>>

Attracting and Retaining Talent – NEW Talent

Attracting and Retaining Talent1Because any work environment is likely to include members of four generations—Veterans, Baby Boomers, Generation X and the Millennials—it must accommodate the needs of a wide range of ages.4 In the last U.S. Census, the number of Millennials already surpassed the number of Baby Boomers by population.5 As the Boomers retire from the workforce, employees from Generation X and the Millennials are beginning to replace them. But the preferences and workstyles of the Millennial cohort have received much attention because of its size. Organizations that consider Millennial values will be the most successful.6

Attracting and Retaining Talent1The Millennials are the generation born during or after the general introduction of digital technology, in the last decades of the 20th century. Digital Native expert Marc Prensky claims “they have spent their entire lives surrounded by and using computers, videogames, digital music players, video cams, cell phones and all the other toys and tools of the digital age.”7 They are tech-savvy and used to being connected from anywhere. They grew
up with the Internet at their fingertips for entertainment and social activities, and now use it for business tasks. They are globally connected, flexible and collaborative because they have developed different communication styles due to advanced technologies such as social media. They are entering the workplace—and transforming it forever.8 Although they have many of the same needs as previous generations, Millennials are different in how they approach work, communicate and integrate technology into their daily lives. Research from Johnson Controls reveals significant findings that organizations should consider for attracting younger workers and accommodating their workplace preferences:

• They value sustainability.
• They’re flexible, mobile and unconventional.
• They prefer collaboration and interaction in the workplace.
• They demand to be connected 24/7.
• The workplace is a space they emotionally engage with—where they socialize.
• The workplace should support their health and well-being.
• The lines between their business and social worlds blur, and they often use the same devices for both.
• They want faster computers, more frequent software updates and higher Internet speeds.9

Organizations are challenged to commit to the values that workers—especially Millennials—are seeking, from corporate social responsibility (CSR), to work/life balance, distributed work, and health/wellness.10 And they are challenged to create work environments that attract younger employees without excluding the other generations.11

The role of Corportate Social Responsibility in Attracting and Retaining Talent

Attracting and Retaining Talent1Both Generation X and the Millennials consider sustainability—an element of corporate social responsibility (CSR)—a core value.12 Sodexo suggests “initiatives that represent the passion and commitment of people who choose to live their values through their work” are related to job satisfaction, motivation and intent to remain with the organization. 13 And “organizations that inspire people to connect with their community and create meaningful, sustainable work environments are able to retain top talent, especially among the younger generations.” 14 Sustainability—which used to be a special feature in office environments—has now become standard, with organizations “incorporating recycled products (including buildings), locally sourced and sustainable materials, energy-efficient HVAC systems and better indoor air quality.”

Making sustainability a design principle of the workplace helps turn the work environment into a tool for attracting and retaining top talent.15 The Millennials are known for having social consciences, which is why they’re drawn toward organizations that are committed to CSR. Sustainability is now a “must have” rather than
a “nice to have” when it comes to attraction and retention.16 And why not? Research shows that people who work in sustainably designed environments benefit from better health, decreased depression rates, improved sleep patterns and less eye strain.17 It’s a principle that works for all generations.environments benefit from better health, decreased depression rates, improved sleep patterns and less eye strain. 17 It’s a principle that works for all generations.

The role of Work/Life Blending in Attracting and Retaining Talent

Attracting and Retaining Talent1Organizations today are challenged with how to help employees blend their workload with their personal responsibilities, presenting creative benefits and perks to entice them. Technology has enabled work anywhere, which means people are accessing e-mails from mobile devices 24/7. To compensate, many companies are offering casual, flexible and fun policies—including unlimited vacation days, gym memberships, relaxed dress codes and childcare, to name a few.18 The Society for Human Resource Management (SHRM) suggests “workplace flexibility has a positive impact on employees’ worklife experiences. These low-cost initiatives can lead to increased employee job satisfaction, lower turnover and lower insurance costs.” 19 They can also encourage creativity and foster innovation by requiring people to get away from their routine by taking a sabbatical, for example. In a recent study, SHRM determined 53 percent of organizations offer flextime, in which employees can choose their work hours. Companies benefit from offering these options to workers by attracting and retaining people who can’t fit into a typical schedule working 9 to 5.20

Not every perk or benefit fits for every organization, however. They shouldn’t be standard across organizations—it depends on what the workers value, and this can vary by generation. 21

The role of Distributed Work in Attracting and Retaining Talent

Attracting and Retaining Talent1The outcome of the need for work/life balance and a flexible work schedule is often distributed work. People are working anywhere, anytime—from the office to third spaces, and from their kids’ athletic events to the airport gate. Microsoft Canada suggests “employers who can offer flexible workspaces to their employees are leading the pack in becoming employers of choice”— especially for the younger generation. 22 Work/life balance is key for Millennials to remain satisfied on the job, and organizations that facilitate mobility programs will be a magnet for this generation. 23

Because technology has “broadened the playing field for finding talent globally, ” organizations will need to make distributed work a priority and find ways to enable collaboration, both virtually and face-to-face. 24 With people distributed across the globe, virtual teams are relying more on collaborative technologies.25

The emphasis on employee engagement as a foundation for innovation means companies will need to accommodate collaborative activities and foster a sense of community. Individual spaces will continue to shrink in both size and number. 26 Not just the Millennials, but also the elder generations have an increasing need for spaces that support teamwork. 27

Even the meaning of individual space has changed: Technology is “so pervasive that a workstation is anywhere networks can be accessed wirelessly.” 28 Hoteling and shared spaces provide ways to accommodate heads-down work when needed to save space and allow group spaces to expand. Telecommuting programs are simple solutions for organizations to incorporate flextime into their corporate culture. It not only saves space and reduces costs; it can also increase worker productivity up to 20 percent. 29

The role of Health & Well Being in Attracting and Retaining Talent

In today’s challenging economic times and volatile business world, there are elements in the workplace that are just as important—and sometimes more valuable—than adequate pay and benefits. Sodexo research reveals that a psychologically safe and healthy workplace is essential for companies focused on human and organizational performance. 30 When the workplace is used as a strategic tool, organizations can create places where people can work and live better. They can adapt the workspaces to fit the worker instead of the other way around—addressing the needs of individuals. 31 Simply providing naturally lit environments with access to daylight and views can help people be more productive than in workspaces with artificial lighting. Enhancing indoor air quality can also improve employee health and satisfaction levels.32

Personal control is another way to enhance physical comfort and health. People feel better about their jobs when they can claim some control and ownership in the work they do as well as in the place in which they do it—even if that means simply adjusting the furniture and other tools in the workspace to better suit their individual needs. Granting individuals some control over the appearance and organization of their work area can improve a person’s perception of his or her work and the actual experience doing it. Even small adjustments can satisfy personal preferences related to aesthetics, workstyles and comfort, increasing worker satisfaction. 33

Beyond Employee Retention: Engagement

Once organizations have attracted top talent, what’s the secret to retaining high-performing workers? One way is through employee engagement. “Higher levels of engagement can be a result of reward and talent programs adopted by employers that creatively seek a balance between responding to employee needs and coping with cost pressures. Employees’ desire to preserve their jobs may have also contributed to higher engagement levels demonstrated by a willingness to go the extra mile, be resilient and embrace change.” 34

The strong correlation between engagement and retention is well understood. “Intent to stay,” or an employee’s stated desire to remain with his or her current employer, is a strong predictor of actual turnover. It is also an indication of how strongly committed an employee is to the employer’s success. Globally, 60 percent of all employees report that, given the choice, they plan on remaining with their current organization for the next 12 months. However, this number jumps to 81 percent among engaged employees but drops to 23 percent among the disengaged. 35

Design Implications for Attracting and Retaining Talent

In a competitive race for talent, the workplace is a key component of the employment package organizations can offer. In fact, workplace effectiveness is “a strong factor in attraction and retention of talented people; ratings of a company’s attraction/retention capability are almost three times higher when workplace effectiveness rises above 80 percent.” 36 Companies with the highest WPI (workplace performance index) scores have close to perfect scores on valuing people, attracting/retaining talent and work/life balance. 37 It becomes a means for
fostering long-term loyalty when the workplace both supports and rewards workers’ efforts. 38 Here are some ways to consider designing the workplace to incorporate the values of CSR, work/life balance, distributed work and health/well-being.

TO ATTRACT PROSPECTIVE EMPLOYEES
• Express culture and brand—from colors and furniture—to reflect the attitudes and values of the organization.
• Offer the latest technology tools to support collaboration, flexibility and mobility.
• Create dedicated third spaces for employees to collaborate in a space away from the main campus.
• Assign workspaces even for mobile employees to help foster social networks and interaction.
• Design work environments to support the work—group spaces for collaboration and privacy for heads-down work that requires concentration. 39
• Create a comfortable, residential, fun environment that feels like home, with amenities such as kitchens, pantries, living rooms, and family rooms. 40
• Incorporate sustainable design when planning a new facility and include sustainable practices in existing or new
• workplaces.

TO RETAIN EMPLOYEES
• Nurture social networks through events such as celebrations.
• Build relationships by supporting impromptu interactions in community spaces such as cafés, and along deliberate pathways throughout the facility.
• Offer a variety of workspaces with mobile furniture to support collaboration, mentoring and meetings.
• Provide spaces for independent, heads-down work.
• Offer mobility and flexibility programs, and the technology tools employees need to support their work.
• Update or refresh spaces frequently to help employees feel valued. 41
• Integrate technology to create smooth transitions between work and home.
• Solicit feedback, address concerns and ask for employee input about how to improve the workplace.
• Encourage consumerization, especially among Millennials, offering consumer-friendly IT solutions rather than
corporate.
• Allow workers to use their own technology, such as iPads and smartphones, to do their work. 42
What people really want at work is a comfortable, functional place where they can be themselves. The more employees can identify with their workspace, the more content and motivated they are at their jobs. 43

Organizations need to make sure work environments align with corporate culture and values as well as brand. Then, by understanding the attitudes and workstyles of four generations—with a focus on the Millennial cohort—they’ll be able to accommodate workers’ needs. Flexibility is key in creating inspiring workspaces that attract top talent and retain workers through an engaging employee experience.

For More Information:

Steve Sable
Hayworth – Dealer Sales Manager
1700 Market Street – Suite 600
Philadelphia, PA 19103
c: 215.397.5656
o:215.977.8607
www.haworth.com

 

 

 

REFERENCES

1. CoreNet 2012
2. CoreNet 2012
3. CoreNet 2012
4. CoreNet The Leader 2013
5. Catalyst.org
6. Johnson Controls, 2012
7. Prensky, Marc, 2001
8. Johnson Controls, 2012
9. Johnson Controls, 2012
10. CoreNet 2012
11. Johnson Controls, 2012
12. CoreNet, The Leader, Mar/Apr 2012
13. Sodexo 2013
14. Sodexo 2013
15. Sodexo 2013
16. Colliers International 2011
17. M Moser Associates, 2008
18. Malcolm, Hadley, USA Today, 2013
19. SHRM 2012
20. SHRM 2012
21. Malcolm, Hadley, USA Today, 2013
22. Microsoft Canada
23. CoreNet, The Leader, March/April 2012
24. Mitel 2012
25. Johnson Controls 2012
26. Sodexo 2013
27. Johnson Controls 2012
28. Sodexo 2013
29. M Moser Associates, 2011
30. Sodexo 2013
31. Sodexo 2013
32. M Moser Associates, 2008
33. Haworth Summary Paper, “The Importance of User Control,” Sept 2009
34. WorldatWork, 2010
35. Blessing White, 2013
36. HR.com, 2008
37. Gensler, Workplace Survey 2008
38. M Moser Associates, 2008
39. CoreNet, The Leader, 2013
40. Sodexo 2013
41. CoreNet, The Leader, 2013
42. Johnson Controls, 2012
43. InDesign.com, 2012

Ashley, Scott, “It’s Not a Workplace, It’s a Work Place,” CoreNet Global, The Leader, March-April 2013
Blessing White, “Employee Engagement Research Update,” January 2013
Catalyst.org, Generations in the Workplace in the United States & Canada, May 1, 2012. Retrieved May 2013.
Colliers International white paper, “Generation Y: Implications for Office Markets,” July 2011
CoreNet, The Leader, March/April 2012
CoreNet Global, The Leader, Member Viewpoints, May/June 2012
CoreNet, The Leader, 2013
Haworth, “Designing Across Generations,” Summary Paper, April 2009
Haworth, “The Importance of User Control,” Summary Paper, September 2009
HR.com, Gensler Survey Measures Connection Between Workplace Design and Business Performance, October 23, 2008. Retrieved May 2013.
InDesign.com, The Power of Office Design, June 20, 2012. Retrieved May 2013.
Johnson Controls, “Digital Natives: Born 2B Connected,” Global WorkPlace Innovation Report, 2012
M Moser Associates, “Sharpening the competitive edge in today’s talent wars,” 2011
M Moser Associates, “The business case for sustainable workspace design,” 2008
Malcolm, Hadley, “Pets at work, time off: Employers add perks,” USA Today, April 29, 2013
Microsoft Canada, Flexible Workspaces Survey, 2012
Mitel Networks corporate white paper, “Work 3.0: The Next Generation Model for Smarter Business,” July 2012
Prensky, Marc, “Digital Natives, Digital Immigrants,” On the Horizon, MCB University Press, Vol. 9 No. 5, October 2001
Society for Human Resources Management, “2011 Employee Job Satisfaction and Engagement: Gratification and Commitment at Work in a Sluggish Economy”
Society for Human Resources Management, “2012 Employee Benefits: The Employee Benefits Landscape in a Recovering Economy”
Sodexo 2013 Workplace Trends Report World at Work, June 30, 2010

 

 

WCRE Welcomes New Vice President Tony Banks

Tony Banks will focus on expanding the Wolf Commercial Real Estate’s footprint in Philadelphia and the Philly suburbs

View Tony Banks Hiring Release in PDF

Wolf Commercial Real Estate (WCRE) is pleased to announce the hiring of Tony Banks, who joins the firm as a Vice President. Tony brings a unique combination of commercial real estate and high finance experience to WCRE. Banks brings nearly a decade of experience in commercial real estate, representing local and national retail tenants, landlords, community development groups, investors, and startups in the Philadelphia area. Prior to his work in real estate, he was a trading analyst on the floor of the Philadelphia Stock Exchange for more than ten years, where he worked with some of the more prominent firms on the NYSE.

Tony’s role at WCRE will include a focus on expanding the firm’s client base in Pennsylvania, especially in and around Philadelphia. He will also provide leadership in sales and leasing, tenant and landlord representation, investment sales, and multi-family dwellings. Banks was most recently an associate at Legend Properties, where he focused on sales and leasing, landlord and tenant representation, and investment sales.

Having recently marked its fifth anniversary, WCRE is now well established in Southern New Jersey, and leadership sees growth in the Pennsylvania markets as a natural next step. The firm has added two new key team members on the account service side every year since its founding.

“Our team has been evolving according to our deliberate strategy to ensure we are able to anticipate and meet the specific needs of our clients and community,” said Jason Wolf, founder and managing principal of WCRE. “Tony has a terrific track record as a real estate professional and a knowledge of finance that will enable us to educate and serve clients in new ways.”

WCRE is highly dedicated to community service, and seeks new team members who share this value. Banks is an excellent fit in this regard, as he is active in several local community and professional groups. He is on the board of the Chestnut Hill Youth Sports Club, and is a member of the Watertower Recreation Center Advisory Council, among others.

“I’ve admired WCRE’s commitment to building strong communities and relationships and its leadership in innovation for a long time,” said Banks. “I’m truly excited to join such a dynamic team and look forward to all we will accomplish together.”

About Wolf Commercial Real Estate

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com , www.phillymedicalspace.com and www.phillyretailspace.com.

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How to take control of health insurance costs

health-insurance-costsLet’s take a closer look at one of those major business expenses: health insurance for you and your employees. As an employer, you are undoubtedly in a constant state of evaluating the many costs driving your company’s bottom line. Without considering all the relevant factors and finding ways to minimize cost, it is difficult to be profitable and run a successful business. If you’re like most business owners, your top three expenses tend to be: cost of working space (rent, mortgage, upkeep); payroll; and health insurance. So you keep plugging away, working daily to find ways to make sure you are operating as cost-effectively as possible, ensuring that your bottom line continues to improve because if that doesn’t happen, then your business ceases to be profitable.

Let’s take a closer look at one of those major business expenses: health insurance for you and your employees. As health insurance premiums continue to rise with no sign of relief, this is one expense that not only negatively affects your bottom line, but also impacts your ability to attract and retain valuable employees.

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How do you take control of health insurance costs?

When you shop for a building/office space, there are tangible things that you can see and steps that you can take to procure the best space at the best price. If you are looking for a new building, you call your real estate broker and schedule a visit. You look up the building address online and view 200 pictures from every angle possible — even 360-degree views — that make you feel like you are actually there without stepping outside your office and getting into your car. However, when it comes to health insurance, a 360-degree view of your health plan is not readily available. It’s difficult to really drill down and get to the bare bones of your plan. You just know the costs keep going up and, just as with many employers, the resulting impact on your company’s bottom line is huge.

So here is a question to ask yourself:

Is my benefit program where it is today because of a 3-5 year plan that I’ve successfully executed, or is it in its current state due to a series of reactions to annual renewal increases?

Most employers find themselves playing defense when it comes to health insurance costs. They react to the annual renewal and then repeat the process every twelve months thereafter; they’re stuck on the proverbial wheel. (Remember Einstein’s definition of insanity: “doing the same thing over and over again and expecting different results.”) Many employers want to find a way to reverse this trend and create a better solution for their bottom line while providing coverage for their employees. Does such a solution exist?

Depending on the size of your company, there are a number of programs available that can actually give you a look under the hood. With this information comes valuable data that can be used to take back control of your health insurance costs. What if you were told that you can get a report of where every health care dollar that you spend is going? How valuable can that be?!

You can take that information and create short-term and long-term savings through retention of carrier profits and decreased taxes. You can also gain more control through data transparency and structural optimization. Most companies are looking for the best ROI on so many other aspects of business, and overlook the power of being able to use your employee benefit program to improve your bottom line.

For more information, contact:

chris-flowers
Chris Flowers
chris@katzpierz.com
413 Marlton Pike East, Suite 100
Cherry Hill, NJ 08034-2483

Office 856.672.6146
Fax 856.672.6147
www.katzpierz.com

 

katz pierz

WCRE Fourth Quarter Report: Southern New Jersey Gathers Strength but Pauses

WCRE FOURTH QUARTER REPORT: Southern New Jersey Gathers Strength, But Pauses Due To Uncertainties

Fundamentals Continue to be Strong, and the Elements are in Place for a Period of Sustained Growth

January 10, 2017 – Marlton, NJ – Commercial real estate brokerage Wolf Commercial Real Estate (WCRE) reported in its latest quarterly analysis that although the Southern New Jersey market has proven resilient, key players seem to be in wait-and-see mode in the wake of the Brexit vote and the US presidential election.
“We see the potential for tremendous performance by the market, and good economic news has been easy to find this quarter. But still, we didn’t see many bold, decisive transactions as 2016 gave way to 2017,” said Jason Wolf, founder and managing principal of WCRE.

There were approximately 388,987 square feet of new leases and renewals executed in the three counties surveyed (Burlington, Camden and Gloucester), which represents an increase of 6.5 percent compared with the third quarter. Prospecting activity was unchanged compared to the previous quarter, with about 250,000 SF of lease deals in the pipeline and expected to close in the near term. Still, the trend of positive absorption continued, making up approximately 127,149 square feet of total activity. Vacancy rates posted slight increases, and one major REIT put its entire area portfolio up for sale as the year wound down.

Download the Report in PDF>>>

Other office market highlights from the report:

Overall vacancy in the market is now approximately 10.85%.

Average rents for Class A & B product continue to show strong support in the range of $10.00-$14.50/sf NNN or $20.00-$24.50/sf gross for the deals completed during the quarter. This is essentially unchanged from the previous two quarters.

All of the major private owners and REITS showed moderate leasing and prospect activity for the quarter – with Burlington County vacancies tightening up, many larger vacancy opportunities are also shifting towards Camden County, which is not controlled by these ownership entities.

New Jersey’s unemployment rate moved down to 4.9 percent, and the national rate is now at 4.6 percent.

WCRE has expanded into southeastern Pennsylvania, and the firm’s quarterly reports now include a section on transactions, rates, and news from Philadelphia and the suburbs. Highlights from the fourth quarter in Pennsylvania include:

Although the presidential election threw the market into a holding pattern, Philadelphia and the surrounding suburbs continue to demonstrate favorable demand in both leasing and sales activity throughout all asset classes.

Most investors appear positive with regard to real estate in the months ahead. Despite the most recent increase in interest rates and anticipated increases over the next 12 months, capitalization rates are forecasted to increase, but at a much slower pace.

The appetite for core center city office inventory is significantly strong, while suburban office space is still lagging behind in both rental growth and occupancy.

There is significant multi-family inventory under construction or proposed for Center City, but some financial institutions are second guessing the depth of the market for additional units, and have demonstrated less involvement on several high profile development projects. In addition, although many apartment projects have indicated limited increases in rental growth, rental rates still remain extremely strong and occupancy levels, while decreasing 1%-2% over the last 12 months, are anticipated to remain flat for the coming months.

WCRE also reported on the Southern New Jersey retail market, noting an especially solid holiday shopping season. Highlights from the retail section of the report include:

Overall retail sales and spending were up significantly over last year, and consumer confidence is up, as well.

Retail vacancy in Camden County stood at 11.4 percent, with average rents in the range of $12.20/sf NNN.

Retail vacancy in Burlington County stood at 10.4 percent, with average rents in the range of $13.15/sf NNN.

Retail vacancy in Gloucester County stood at 6.4 percent, with average rents in the range of $12.01sf NNN.

The full report is available upon request.

About Wolf Commercial Real Estate (WCRE)

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

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WCRE Represents 1835 Underwood in the Acquisition of 1835 Underwood Boulevard from Underwood Boulevard Associates

FOR IMMEDIATE RELEASE

Contact: Andrew Becker

Phone: 856.449.5220

Email: andrew.becker@wolfcre.com

CLICK HERE TO VIEW IN PDF

WCRE Represents 1835 Underwood in the Acquisition of 1835 Underwood Boulevard from Underwood Boulevard Associates

December 19, 2016 – Marlton, NJ – WCRE is pleased to have exclusively represented 1835 Underwood, LLC in the acquisition of 1835 Underwood Boulevard in Delran, New Jersey from Underwood Boulevard Associates, LLC (a related entity of Whitesell Construction Company, Inc).

1835 Underwood Boulevard is a +/-24,000 square foot flex building located in The Millside Business Park in Delran, New Jersey.

Positioned at Chester Avenue and Route 130 in Delran Township, the park is in the heart of Burlington County’s Route 130 commercial corridor and is only minutes from the Betsy Ross and Tacony-Palmyra bridges providing convenient access to Philadelphia.

Building on their successful relationship, the new ownership has retained WCRE to assist in the marketing and leasing of 16,000 square feet which is ideal for any user with the need of both warehouse and office space.

Chris Henderson, Senior Associate for WCRE exclusively represented the Buyer in this transaction.

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com,  www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

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WCRE FACILITATES INVESTMENT SALE OF MAJOR INDUSTRIAL/FLEX BUILDING IN EASTON, PENNSYLVANIA

FOR IMMEDIATE RELEASE

Contact: Andrew Becker

Phone: 856.449.5220

Email: andrew.becker@wolfcre.com

 

50-hilton-image

 

WCRE FACILITATES INVESTMENT SALE OF MAJOR INDUSTRIAL/FLEX BUILDING IN EASTON, PENNSYLVANIA

December 9, 2016 – King Of Prussia, PA – WCRE is proud to have exclusively represented 50 Hilton Street, L.P.  in its recent acquisition of 50 Hilton Street in Easton, Pennsylvania. The subject property is a fully leased 119,500 square foot multi-tenanted industrial/flex building situated on approximately 5.24 acres.

This well located property is within a half mile of the Morgan Hill Interchange of I-78 providing for convenient access to New York, Philadelphia, and Harrisburg.

Lee Fein, senior vice president at WCRE, exclusively represented the buyer in this investment transaction.

“We are please to have matched our client with this terrific opportunity to purchase a fully leased building with high quality tenants in an ideal location,” said Fein.

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at http://lehighvalleyindustrial.com, www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com,  www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

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Keys to Successful Office Design

Office design needs to be customized and driven by company culture and work requirements, according
to Marlyn Zucosky, director of interior architecture and office design at Ware Malcomb’s Princeton, NJ, office. Zucosky, who joined Ware Malcomb in July from Joshua Zinder Architecture + Design, says in this exclusive Q&A with GlobeSt.com that amenities are critical in designing office space for millennial workers.

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How to approach office design

office designGood designers know how to listen really well. During the initial programming phase of any corporate office design project, we really work to understand the culture of the organization. Everyone wants to know the trends, but there is no one size that fits all as it relates to office design solutions. It must be driven by a company’s culture.

For example, a law firm is typically not going to want an open plan environment. The work they do is private and of a confidential nature. Often they require private offices with full height walls. In contrast, at a software development company, the work is more collaborative. Here the walls have come down or gone away entirely in many cases.

So the office design is influenced by the type of work, and how that work can be done as efficiently as possible. We consider many factors. Is the work collaborative? Do they need areas for heads down concentration.

Privacy concerns in office design

When an organization is moving into a new space, there is a tremendous opportunity to rethink how people work, create more efficiencies and optimize their office design. We use a lot of imagery in programming to communicate what is possible.

Trends in workplace office design

One of the big trends we are seeing is an increase in employee amenities. At a party everyone gathers in the kitchen of the home. This led to the great room concept in residential floorplans. It is also happening more in the hospitality industry – more “living room” lounge areas to connect informally, work via WiFi,
etc. This idea from the residential and hospitality industries has moved into the commercial world.

We have our own version of a “great room” in the workplace – combining a kitchen, pantry, and lounge space – which becomes the heart of the office. Everyone can relate to those amenities. It helps facilitate chance encounters, one-onone collaboration and informal ways to connect.

The increases in the number of millennials is also influencing office design. They are flooding the market – and food is central to them. More and more companies are providing free lunch and snacks to their staff in response. Likewise, we need to design a space where you can go to kitchen, enjoy some of the free food and connect with others.

Another influence of millennials is their preference to work in urban areas. That’s not always possible, but we can help create a more urban feel in the suburban market through the design. Examples include using polished concrete floors, or creating an open exposed ceiling. We sometimes work creatively with our clients to achieve this look while keeping costs down. For example, using polished concrete for circulation areas, and then carpet in workspace zones.

Recruiting is such a critical component for companies right now. Our clients want to make sure that their office design is made to attract new talent.

Office design trends for building owners

Many building owners are adding base building amenities to their projects. This adds tremendous value for future tenants as it saves them from having to invest as many amenities within their own office suites. Some common amenity spaces might include a café, conference rooms, or lounges areas with Wi-Fi. Another trend in smaller buildings where a full café can’t be supported is the Grab and Go Café. Here food and snacks are offered and paid for on the honor system.

Again we are seeing that cross over and influence from the hospitality industry. What role does health and wellness play in office design?

We are the fitbit generation. Everyone is counting steps. As designers, we have an opportunity to influence health in the office. It is important that we encourage employees to move throughout the course of the day. We want to create opportunities for more movement and interaction, which generates more conversations, connections and collaboration. Technology is a double-edged sword; it can provide instant gratification yet makes us feel more disconnected. It’s nice to be able to have that personal interaction. We can help encourage this through how we plan space.

How office design of the personal work space of today’s worker changed

It is always evolving. More than anything, the private office is now designed for flexibility. We need to provide multiple options for work environments within a single office deign space. For example, “huddle” spaces can be furnished differently to accommodate different needs. One might include a desk and phone for focused work on a skype call, while another might include comfortable chairs for an informal meeting.

Height adjustable desks will move into the mainstream. This encourages wellness and they are becoming more affordable and more workable, as we don’t need storage areas below. Workstations are smaller. Many have transitioned to using just a laptop. Work surfaces have gotten smaller from the impact of technology. There is less paper, smaller hardware, and not as much of a need for cabinet space. 

zocosky