All tagged kelemen company
Vacancy rates are one of the most important variables to consider when gauging the health of an office market. In fact, we find one of the most common questions our clients ask is “what are office vacancy rates in Orange County?”
The Covid-19 virus scare has had the whole world back on its heels in recent months. Health officials in over 100 countries are taking drastic action to get the upper hand on the rapidly spreading virus. This exogenous shock to the world’s economy will definitely set global GDP back for the short term, as various business sectors throttle back activity.
As a commercial property investor and property management firm, we are particularly concerned with how each presidential candidate’s proposed policies could affect the real estate market. So, in this post we share some of our thoughts on the tax policy platform of the challenger as published on his campaign’s website.
As we prepare for the reopening of our properties, the phased return of our tenants, and a workplace functioning in a different format, we understand how imperative it is to implement an effective protocol to best preserve the safety of all building occupants, staff, service providers and visitors. We recognize that we do not yet have a confirmed date for the reopening and return to work, Kelemen Property Management team will continue to comply with the directives of the State Government and County officials, while concurrently incorporating recommended protocols from the CDC and local health authorities into our redeveloped operational standards, as we transition through this reentry process.
Managing the rent roll is a high priority for all office building owners. There are several variables which the astute investor pays close attention to when it comes to NOI performance. One of those variables that perhaps doesn’t get as much attention as vacancy, time-on-market, operating expenses or rent growth, is sublease space. This week, we dive into the impact that sublease space can have on your commercial property.
The Irvine Spectrum is not a baseball diamond carved out of a cornfield, but in many ways, it is just as aspirational and inspirational as that Iowa farm. Tibor Kelemen, CEO of the Kelemen Company, who is no stranger to Spectrum, having worked in the center of it since the 90s, shares his insight on the growth of spectrum, the office submarket, and the impact on neighboring submarkets.
Investors large and small have long seen industrial warehouse/distribution property as a safe and stable haven for their capital. It is now the preferred product type across the investor spectrum including large institutions, private equity funds, and publicly-traded REITs, as well as family offices, small private investors and space occupiers. Why are these concrete boxes getting so much attention these days?
Since the Kelemen Company acquired the Atrium back in August of 2018, its mission has been to set a new standard for quality for Class A office projects in the Greater Airport Area. A complete upgrade of the lobby, which is scheduled for completion in early June, represents the final phase of improvements designed to inject new energy into this iconic project.
It has never been easier, or more dangerous, to invest than it is today. Information and analytical tools are ubiquitous and available to all, but, the most successful investors are careful to strike a balance between drive for yield and tolerance for risk no matter what asset type they are investing in. Real estate is no exception.
On November 6th, we go to the polls to decide on some very big issues at both the federal and state levels. The main act is, of course, deciding who will be sworn in as President on January 20th of 2021. Will we stick with the status quo or do we take a chance on a candidate who wants to take the country in another direction?
As an office building owner in Orange County, you’ve probably had to grapple with the problem of leasing up difficult spaces. It’s quite common for any building, regardless of location and quality, to have a suite or two that seems to take longer to lease than others. Let's take a look at potential solutions to tackle problem areas in all stages of the leasing.
We look into another solution that has gained a lot of traction in the past few years: the spec suite. The concept is pretty simple: build out your empty space before you find tenants as a means of securing them sooner. Landlords throughout the ownership spectrum have turned to the concept of the spec suite to improve leasing performance, especially with their smaller vacancies. Let’s assess the benefits and risks.
In a recent post, we began our look into the impact that functional obsolescence and deferred maintenance can have on commercial properties. While the near term upside to deferring maintenance is higher cash flow, the downside risks are generally harmful to your property’s long term performance and resale value. Let’s take a look at some deferred maintenance items with an eye for measuring their impact on the performance of your real property asset.
The Kelemen Company is pleased to announce the completion of major environmental, architectural and amenity-based improvements to The Atrium office project in Irvine. The property strategically located less than a mile from John Wayne Airport in Orange County’s premier business hub is setting a new performance bar in terms of sustainability, amenities, and convenience.
Armed with a smartphone, laptop, and an internet connection, many office-based workers have left the building…literally. This new remote-driven culture has allowed businesses to occupy less space, spend less on interior improvements and focus more of their resources on innovation, growth and making sure that valuable employees remain happy enough to stick around. Let’s take a closer look.
Whether you own a Class C wood-frame building constructed in the early 1970s or a Class A high-rise, there has never been a more important time to take a critical and brutally honest look at how your property is perceived by prospective tenants.
A decreasing property value can also be converted to an opportunity, as those investors with the necessary skills, resources and capital are often able to acquire property at a discount and add value by addressing issues areas of obsolescence and deferred maintenance. But, before we get into that, let’s take a high altitude look at both conditions starting with the tougher of the two, functional obsolescence, to frame the topic.
The Orange County office market is still in expansion mode, but key market metrics are showing signs of fatigue as we enter the final quarter of 2019. Results have been mixed throughout the year and a decrease in transaction volume, higher vacancy rate, and sporadic net absorption has fueled more speculation that a long-awaited correction may be coming soon.
Few would argue the underlying value of getting more by using less. It runs along the same line as the old saying; waste not, want not. But, is it really something for you as an owner to definitive action on? We think the answer is yes. In this post, we focus on the environmental (planet) and economic (profits) aspects of sustainability as they relate to your ownership of commercial office property.
In the past two months, the US Federal Reserve Bank lowered its benchmark Fed Funds Rate in an attempt to reinvigorate the US economy, which has been feeling the impact of sluggish global GDP growth. Major economies around the world have slowed, including China, India and the entire European Union. But how does this affect commercial property owners?
