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Monthly Archives: January 2017


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

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Four Ideas for Creating Strategic Workplace Design

The goal of strategic workplace design is to create physical work environments that yield maximum results. Have you ever looked around your workspace and thought about whether it supports the organizational outcomes that you want to achieve?

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strategic workplace designBefore considering how to maximize your workspace, it is important to keep in mind that in your space, every area should have a purpose. Just take a quick look at your employees as they work. What spaces get used most often? What areas are used the least? How can this space be better used? By strategically planning how each square foot of space will be used, not only will you create an environment that maximizes square footage while minimizing costs, but is in line with your organization’s goals. The way you create your space must fit the needs of your employees so that they have what they need to work best. By doing that your employees will continue to grow your business through productivity, creativity and innovative thinking. Further, your company will see a number of added benefits.

MAXIMIZING THE WORKSPACE PER SQUARE FOOTAGE through strategic workplace design

Designing your workspace to be flexible and adaptable leaves room for your business to change and grow as needed. As employee seating trends continue towards hoteling, benching and hot desking, the amount of square footage needed per employee continues to drop. This allows for other uses for the space that
your company needs like quiet areas, collaborative spaces or meeting rooms. Further, adaptable space maximizes spatial efficiency, which in keeps costs down and protects your bottom line.

ATTRACTING TOP TALENT through strategic workplace design

Strategis workplace design is a powerful resource in the recruitment and retention of top talent in your industry. Because the new workforce wants to feel connected and engaged in the work that they do, it is important to design a workspace that will appeal to the features that they want in a company. Throughout your space, your brand and culture should be well represented so that they will feel the meaning of the work that they are doing. Another important factor in the recruitment and retention of top talent is creating flexibility in their space.

OFFERING EMPLOYEE CHOICE through strategic workplace design

Employees want a variety of areas to think, create, collaborate and be productive. Allow them choice by including open and enclosed spaces, comfortable lounge areas, and quiet rooms where they can choose what works best for them. Experts agree that when companies give employees choice, they had increased growth rates and one-third the turnover rates of organizations with traditional floor plans.

SETTING THE STAGE FOR HEALTH AND WELLNESS WITH EVERYONE IN MIND.

workspace designWhile technology has streamlined business processes, it has also made us more sedentary. By designing workspace that incorporates necessary movement into the course of the day, it will create a work environment that supports the health and wellness of your employees. A healthy work environment will spark creativity, energy and motivation, thereby increasing productivity and efficiency for your business.

There isn’t a one-size fits all solution when it comes to strategic workplace design. But with the right team of design professionals helping you through the process, you can create a floor plan that best supports the needs of your business. Not only will your workplace produce outcomes like collaboration, innovation and productivity, but its strategic workplace design will be a primary factor in reaching 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

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Commercial Property Taxes – Pay the Least Amount Possible

Commercial Property TaxesCommercial Property Taxes has been a cost of doing business for our clients which in many cases is loathed or just tried to be forgotten about all together – especially in the Northeast. Our clients and contacts have informed us in the past of taking the traditional appeal process to try and get assessments in line and ultimately pay lower commercial property taxes.

We at National Bureau of Property Administration felt that there had to be a better way and a way to generate more savings than going through the traditional appeal process. We met with attorneys, consultants and real estate professionals to try and find a different approach. With www.nationalbureau.com (The Bureau) there are several advantages to a Pro-Active Approach vs. being Reactive and filing for an appeal.

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The following are opportunities and or benefits to this Pro-Active approach to commercial property taxes:

1. New Construction – Working with assessors PRIOR to a property being developed, built or enhanced is the most opportune time to get the most favorable enrollment of your project vs. using the cost of construction and ultimately paying the least amount of property tax. Commercial Property Tax savings range from 15% to 50% vs. not working Proactive and enrolling at cost. NOTE: In addition, COAH Fees, Q-Farm Exemptions, Rollbacks, etc. are all taken advantage of or the lowest amount possible is paid. This work is completed in addition to any abatement and/or PILOT program.

2. Exemptions – Identify exemptions which are available in jurisdictions across the country can only
be implemented by analyzing a property and doing the homework to see if exemptions apply. Once exemptions are identified working with assessors on an informal basis up front will enhance the enrollment of exemptions. Commercial Property Tax savings on implementing exemptions Pro-Actively range from 3% to 5% savings off your commercial property taxes ANNUALLY.

3. Pro-Active Assessment – Working on existing facilities on an informal basis PRIOR to filing an appeal with assessors saves clients significant property tax dollars, avoids litigation, avoids any political/bad press, guarantees proper enrollment and establishes savings within a three to six-month period vs. eighteen months filing an appeal. Typical savings are on average 20% of the current tax payment however these savings are realized twelve months earlier than filing an appeal – more savings sooner!

As an example, The Bureau and Wolf Commercial Real Estate (WCRE) have generated over $620,000.00 in exemptions for commercial property taxes for clients annually. That number started at zero and in less than three years with little to no time investment for WCRE contacts these annual savings can contribute to their overall profitability and competitiveness. We are forecasting a 30% increase in annual saving for year end 2017 and are striving for $1,000,000 savings for WCRE contacts by year end 2018.

 

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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.

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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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U.S. Office Construction Extends Recovery by Closely Matching Demand

The 135 million square feet of office space under construction at the end of the third quarter across the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – only modestly exceeds the long-term historical average of 127 million square feet.

Office construction in the U.S. and Philadelphia commercial real estate markets has remained surprisingly aligned with market demand, avoiding the boom and bust cycles seen in 2007, when 187 million square feet was under way; and the whopping 250 million square feet that was under construction in the first three quarters of 2000, according to CoStar Portfolio Strategy data.

This report on national and Philadelphia commercial properties was made through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Despite healthy office fundamentals, healthy pricing and record rent levels for many U.S. and Philadelphia commercial real estate properties achieved by new assets, “there is surprisingly little development taking place,” said Jeff Myers, managing consultant with CoStar Portfolio Strategy. “The overwhelming majority of metros are adding space at rates below their historical average.”

With this new-found discipline of lenders and developers, office construction has been closely tracking demand and remained well below historical levels since 2011, with less than half as much vacant national and Philadelphia commercial real estate listings available at midyear 2016 versus 2007.

While previous supply peaks from the late 1980s, through the financial crisis of 2007, were marked by heavy speculative construction and dramatic rent spikes, many developers and lenders in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – remain leery about launching “spec” projects.

In fact, some analysts believe overall U.S. and Philadelphia commercial real estate listings involving office construction may be peaking for this cycle, with most projects now underway in a handful high-demand markets slated for delivery in 2017 and 2018.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Leor Hemo (leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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Balashine Properties Appoints WCRE Exclusive Leasing Agent For 930 Harvest Drive in Blue Bell, PA

FOR IMMEDIATE RELEASE

Contact: Andrew Becker

Phone: 856.449.5220

Email: andrew.becker@wolfcre.com 

 

 

 

930 Harvest Drive Press Release PDF

Balashine Properties Appoints WCRE Exclusive Leasing Agent For 

930 Harvest Drive in Blue Bell, PA

 

January 3, 2017 – Marlton, NJ – WCRE is pleased to announce that it has been appointed exclusive leasing agent by Balashine Properties for its office location at 930 Harvest Drive in Blue Bell, Pennsylvania.

930 Harvest Drive, located in the Union Meeting Corporate Center, is a 118,004 square foot, four-story, elevator served office building located in the Plymouth Meeting/Blue Bell submarket. The property is minutes from the Pennsylvania Turnpike, with ample parking and SEPTA service to Plymouth Meeting and the Norristown Transportation Center.

Balashine Properties renovated this building in 2015 and maintains its headquarters there. The ownership is committed to best-in-class customer service and is seeking to make aggressive deals. Among many desirable attributes, the building features highly efficient suite layouts, a full-service café, a tenant only conference center, and an on-site day porter and building engineer. Several available suites range in size from 2,000 to 24,742 square feet. Having ownership and management on-site will be a great feature for tenants looking for their new business home.

“We’re excited to be working with WCRE’s leasing team. I am impressed with WCRE’s marketing platform and confident they will help us maximize occupancy at this highly desirable property,” said Garett Shiner of Balashine.

WCRE’s leasing team of Andrew Maristch and Anthony Mannino added, “WCRE is proud to add Balashine Properties to its growing list of clients in Pennsylvania. We look forward to applying our WCRE 360 marketing approach to bring in new tenants and establish another successful relationship in the Philadelphia region.”

A marketing brochure and tenant information package 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 at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.bluebellofficespace.com, www.bluebellmedicalspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com, www.phillyretailspace.com, ww.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, and www.southjerseyretailspace.com.

 

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