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2001 CID Trends April 24, 2001 Office Sector Presentation

2001 CID Trends April 24, 2001 Office Sector Presentation. Lacy Howe. Principal, Peek /Howe Real Estate, Inc. Over 12 years in the Commercial real estate field Specializes in acquisition, disposition and leasing. 2001 CID OFFICE TRENDS COMMITTEE.

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2001 CID Trends April 24, 2001 Office Sector Presentation

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  1. 2001 CID Trends April 24, 2001Office Sector Presentation

  2. Lacy Howe • Principal, Peek /Howe Real Estate, Inc. • Over 12 years in the Commercial real estate field • Specializes in acquisition, disposition and leasing

  3. 2001 CID OFFICE TRENDS COMMITTEE Lacy Howe, Peek/Howe Real Estate, Inc. – Chairman Dianne Bankston, Larry E. Bankston Appraisals Dianne Barlow, Dixon Realty Richard Hymel, Select Properties Donnie Jarreau, Donnie Jarreau Real Estate Steve Legergne, Sealy & Falgoust Real Estate Carlos Slawson, LSU Jonann Stutzman, JTS Interests Debbie Usrey, Latter & Blum Brad Way, Peek/Howe Real Estate, Inc.

  4. Sherwood/Coursey – Circa 1975

  5. Sherwood/Coursey – 2001

  6. Corporate/College – 1976

  7. Corporate/College – 2001

  8. Bluebonnet – Circa June 7th 1971

  9. Bluebonnet – 2001

  10. Mike Falgoust – Circa 2001

  11. Mike Falgoust: 1971 vs. 2001

  12. “McL’Office Group” • Lacy Howe • Tom Cook • Mike Falgoust • Ben Johnson • Donnie Jarreau

  13. Mr. McL’Office Moderator: • Lacy Howe • Principal, Peek /Howe Real Estate, Inc. • Over 12 years in the Commercial real estate field • Specializes in acquisition, disposition and leasing

  14. “McL’Office Group” Panelist: • Tom Cook, MAI • Owner – Appraisal Services • Over 21 years in the real estate Appraisal field • Past President of the Louisiana Chapter of the Appraisal Institute • Current President of CID

  15. “McL’Office Group” Panelist: • Mike Falgoust, SIOR • Managing Broker, Sealy & Falgoust Real Estate, LLC • Over 26 years in the Commercial and Industrial real estate business • Past President, SIOR and CID • Actively involved in the EBR Planning Commission

  16. “McL’Office Group” Panelist: • Ben Johnson, CCIM, CPM, SIOR • Sales Manager, Latter & Blum • Over 26 years in the Commercial and Industrial real estate business • Formed Johnson Properties in 1983 which he sold to Latter & Blum in 1995 • Sales Manager for Latter & Blum’s Commercial brokers

  17. “McL’Office Group” Panelist: • Donnie Jarreau • President and Owner, Donnie Jarreau Real Estate • Over 11 years in the Commercial real estate business • Formerly with Latter and Blum • Owner of Spectrum Fitness Clubs

  18. Questions for Panelists

  19. Sherwood 1. According to the LSU’s Survey results, Sherwood Forest Occupancy has decreased 3 – 4% since Spring of 2000. It is probably worse than that, especially if you have a ‘see-through-building”. A. Why is this happening? B. What affect on rates will this have? C. How low do you see rents going? $12.00

  20. Downtown 2. Will Downtown office continue to attract office tenants or is it tapped out? If tapped out, what will it take to make it more attractive to office dwellers? Other than mid-town Florida Blvd., what other areas will be vacated as the State consolidates downtown?

  21. Bon Carre’ 3. What is the future of high-tech office space in Baton Rouge? Bon Carre’ has brought 400,000 s.f. on the market. Although they have signed 50,000 sf, the balance still needs to be absorbed. A.  Is Bon Carre’ going to fill-up? B. Have any of you lost a deal to Bon Carre’? C.  Was it lost due to the tax relief measures?

  22. BR Rental Rates 4. According to LSU’s Survey, occupancy rates in BR are dropping and rental rates are increasing so slowly that they have probably peaked. Anyone care to speculate where rental rates will be in 2 years?

  23. BR Rental Rates (Class A and B)

  24. Triumphs and Blunders 5. What is the most notable triumph in the office market during the past year? 6. What is the biggest blunder in the office market during the past year?

  25. Playing Follow-the-Leader? 7. Since everybody is moving to Livingston and Ascension Parish, will office follow?

  26. Significant Correlation? 8. What affect does the hunting season have on leasing in our market?

  27. Baton Rouge Class A Rents

  28. Speculative Construction 9. According to LSU’s survey, rates for Class A space has increased $0.62 sf/yr., since 1998. At this rate, it could take over 4 years to hit $21.00. A. Is that when we can expect to see speculative office construction? B. Where?

  29. Cold Spots 10. Other than Sherwood Forest, what is the coolest spot for office today? Where will it be next year?

  30. Cold Spots

  31. Ben Johnson – Circa 2001

  32. Ben Johnson: 1971 vs 2001

  33. Mike Falgoust: 1971 vs. 2001

  34. Hot Spots 11. Where is the Hot Spot for office in the next 12 months?

  35. Hot Spots

  36. BIG Closing Question 12. What affect will market conditions such as (choose one): a. the “bear” market b. the interest rate environment c. the oil and gas d. All of the above have on the real estate sector in the next year?

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