Kingsley Associates tracks national and market trends in office tenant perceptions each quarter. This quarter’s results show that tenant loyalty – as measured by the percentage of tenants who told us they “probably” or “definitely” would renew their lease – is at its highest point in the last 3 years (see the chart below).
This quarter’s results reveal some interesting differences across markets as well:
- Atlanta office tenants are the most optimistic about hiring additional people and needing more space.
- Nowhere in America are office tenants less interested in environmentally sustainable building practices than in Dallas.
- San Francisco exceeds the national average in tenant satisfaction, loyalty and economic outlook.
- In New York, tenant satisfaction and loyalty dipped during Q4.
- Tenants in Chicago are among the happiest, most loyal and most optimistic in the nation.
- Interest in environmentally sustainable building practices fell sharply in Denver throughout 2011.
The full press release is available on our Website here. To download the data itself (in PDF format), click here.
Tags: CRE, real estate industry trends, tenant survey
According to Kingsley Associates’ latest research, office tenant loyalty is at its highest point in three years. Tenants are also seeing more value for what they pay in rent, and more of them anticipate needing additional space than at any point since before the 2008 financial crisis. Check out our Q3 2011 Office Industry Trends press release or go straight to the data.
Tags: CRE, Jim Woidat, office building, real estate industry trends, tenant survey
Kingsley Associates and BOMA have released the Autumn 2011 edition of the BOMA-Kingsley Report, a semiannual paper that takes an in-depth look at big topics in the office building industry. An analysis of data from the 2011 Experience Exchange Report (EER) forms the centerpiece of this issue, with a key finding being that office building owners and managers were able to hold costs relatively stable last year. In fact, utility expenses and property taxes both fell by substantial margins over the prior year – at least in terms of the national average.
The current issue also includes several other features:
- “The Numbers Tell the Story” analyzes some major expense line items across building types and major markets.
- A panel of leading industry figures look toward the future of performance measurement in “The Next Generation of Benchmarking.”
- In “Deconstructing Density,” BOMA’s Laura Horsley investigates the acceleration of tradition-challenging methods of using office space.
Tags: BOMA, CRE, EER, office building, real estate industry trends, real estate whitepaper
Kingsley Associates has released its quarterly office trends for Q2 2011. Among the interesting findings:
- More tenants anticipate the need for additional space than at any point since before the 2008 financial crisis
- Tenants in Boston and San Francisco report greater need for additional space than those in other major markets
- Tenant satisfaction is at an all-time high
- Interest in green building practices is beginning to trail off ever so slightly
For more, see the full press release or download a PDF copy of Kingsley Associates’ Q2 2011 office industry trends.
Tags: CRE, office building, real estate industry trends, tenant survey
On May 5, Kingsley Associates’ Phil Mobley was a panelist at the BOMA Medical Office Building Seminar in Dallas, Texas. Click on the image below to hear a brief snippet from the session about property management excellence.
Tags: BOMA, Medical Office Building, Phil Mobley, tenant retention
The March/April issue of the BOMA Magazine includes the latest edition of the BOMA-Kingsley Report. This issue addresses deferred maintenance and capital expenditures, which present unique challenges in today’s market. Kingsley’s Phil Mobley has a sidebar about green building practices. Download the BKR here: Spring 2011 BOMA-Kingsley Report
Tags: BOMA, office building, Phil Mobley, real estate industry trends
Kingsley Associates’ research was cited by BOMA today in a release promoting the BOMA 360 Performance Program®. Check out the details here: BOMA 360 Press Release
Tags: BOMA, office building, Phil Mobley, property management, real estate, tenant satisfaction
Kingsley Associates and Institutional Real Estate, Inc. (IREI) recently wrapped up our 15th Annual Plan Sponsor Survey. This survey addresses the real estate investment plans of North America’s largest tax-exempt institutional investors and is discussed everywhere from the National Multi-Housing Council (NMHC) to the Wall Street Journal.
Here are a few highlights from this year’s results:
After a two-year hiatus, real estate has resumed its place atop the list of asset classes in terms of delivering the highest expected risk-adjusted returns (compared to U.S. stocks, foreign stocks, fixed-income, and venture capital / private equity investments)- Investor real estate holdings are significantly below “target” allocations
- Within real estate, multifamily is by far perceived as the most attractive property type for investment
- Investors report a significant backlog of uncalled prior commitments to real estate managers
- Investors in aggregate anticipate $30 billion in new capital allocations to real estate in 2011, half of which will target value-added and opportunistic private equity strategies
To purchase the full report, please visit http://www.irei.com/.
Tags: capital flows, IREI, Jim Woidat, pension fund investing, plan sponsor, real estate, real estate investing
Each quarter, Kingsley Associates examines trends in office tenant perceptions across the U.S. With the end of Q4, we are able to look at some longer-term trends as well. One of those things that “everybody knows” intuitively is that building owners and managers have been increasingly focused on customer satisfaction and retention since the financial crisis of 2008. And, in fact, the Kingsley IndexSM bears this out.
Below is a chart displaying the annual trend in overall office tenant satisfaction since 2006. The “% satisfied” is the proportion of tenants offering a rating of 4 (“good”) or 5 (“excellent”).
This trend is not merely the result of an improving environment; rather, it is directly linked to the efforts of property managers to provide stronger customer service. Read more… …
Tags: office building, property management, real estate industry trends, tenant retention, tenant satisfaction, tenant survey
