Tag Archives: leasing

Wal-Mart – IT??

Post By : admin 5 April 2018 Leave a comment

Do you think of IT when you hear Wal-Mart? Most people don’t, but Wal-Mart has an emerging technologies office which makes sense when you consider that Amazon and other online retailers are likely taking a chunk out of its sales. Wal-Mart already has 2,000 technologists on staff in Silicon Valley, but it’s opening a new office in Plano, Texas, April 5 in a Common Desk coworking space in Granite Park.

Wal-Mart has already opened an office on the campus of the University of Texas at Dallas to provide an atmosphere for engineering students and companies to work together. Wal-Mart feels this to be a treasure trove of scoping new talent.

The purpose of these techno offices is to use technology to improve store experience. Problems can be detected earlier with these new systems Wal-Mart wishes to put in place.

To read the article in its entirety, please click here.

Bob Gibbons is a Real Estate Advisor & Tenant Advocate (also known as a tenant rep) with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.

Categories: Uncategorized

A Ban on Dual Agency Fails…For Now

Post By : admin 16 January 2018 Leave a comment

As you probably know, at REATA, we only represent users – companies that lease or buy office and warehouse space. We won’t take landlord listings for lease because it has the potential to create conflicts of interest.

Furthermore, we don’t think that real estate companies should be allowed to represent both sides of a transaction. That would mean that one agent in BrokerageCo (made up name) shouldn’t be allowed to represent the landlord or seller while another agent in the same BrokerageCo represents the tenant or buyer.

Fortunately, some powerful forces in the industry are starting to agree with us and take action to make this mandatory.

California Assembly Bill 1059 is legislation that was crafted to end “dual agency” (it’s called “intermediary” in Texas). While the specific provision ending this practice was removed from the bill before it made it to committee, the good news is that it was considered at all. It has to be discussed a few times before it actually becomes law.

This all began in 2007 when a Hong Kong businessman sued Coldwell Banker and its agents. He had been represented by a Coldwell Banker agent as had the seller. When a giant discrepancy was found in the size of the property he purchased (long after closing), he filed suit. It went all the way to the California Supreme Court which determined that Coldwell Banker failed in its fiduciary responsibility to him. That was a lightning bolt decision.

The United Kingdom is ahead of the USA on this issue. The Royal Institution of Chartered Surveyors (think of them as the UK version of the National Association of Realtors) in early 2017 created a policy statement with strict conflict-of-interest requirements which specifically bans the practice in the UK.

So the government and industry groups appear to be moving in the right direction. It will likely take several more years, but we’re hopeful that all concerned will do the right thing for clients whether legislation requires it or not.

A more-comprehensive article is available here if you want to learn more.

Bob Gibbons is a Real Estate Advisor & Tenant Advocate with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.

Categories: Uncategorized

Are You Safe At Work?

Post By : admin 11 August 2017 Leave a comment

The news of late has been nothing less than tragic – disgruntled employees and/or former employees returning to their work sites and opening fire on a specific person or just a crowd in general. No place appears to be immune anymore: churches, offices, industrial work sites, schools, retail. The National Association of Realtors recently issued a Power Point presentation entitled Implementing Office Safety Measures: Legal Considerations. Whether you are a building owner, business owner, employee or even just a shopper this has good information for one and all. You may view the presentation by clicking here.

Bob Gibbons is a Real Estate Advisor & Tenant Advocate with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.

Categories: Uncategorized