Welcome to the Urban Land Institute Southeast Florida/Caribbean

1. Welcome to theUrban Land InstituteSoutheast Florida/Caribbean

2. What is Happening with Office Space in Broward County?

3. TODAY’S CAST • The Landlord • The Tenant • Downtown Fort Lauderdale

5. The Landlord’s View Greg Martin, Cushman & Wakefield

6. Market Overview 2002 • Vacancy:  • YTD Absorption:  • Rental Rates:  • New Construction:  • Major Transactions: Sun International, Wachovia Bank, Union Planters Bank, AIU, Microsoft, Citrix, Carnival Cruise Lines

7. Credit is King “Show me the Money!”

8. Creativity

9. Competition • New Buildings • Sublease Opportunities

10. Aggressive Tenant Rep Brokers

11. Conclusion • Looking for solid companies with positive earning and stability • Looking to minimize TI & expense exposure for less credit worthy tenants • Looking to secure and stabilize existing Rent Roll/ Tenant Roster • Trying to hold the line on Rental Rates

12. The Tenant View Paul Marko, CB Richard Ellis

13. Needs • Realities of our world • Analyzing Sub-lease VS Direct • Location, Location, Location • Tenant Improvements

14. Trends • Employee benchmarks • Landlord benchmarks • Corporate benchmarks

15. Technology • Flexible working hours • Speed of services • Reduced space requirements

16. Conclusion • Generally Looking to improve image while reducing occupancy cost. • Looking to decrease occupancy costs while improving “bottom line” balance sheet impact. • Reject Complexity – Kiss • Lease Audit

17. Downtown Byron Calhoun, Stiles Corporation

18. 301 Las Olas Blvd

19. 333 Las Olas Blvd