Month: October 2015

Office Market Game Changers

Several “X” factors are changing the game in the office market. Variables such as the low cost of capital, movement to open floor plans, implementation of technology in the workforce, and the desire for businesses to avoid long commutes have shaped the landscape of the office market. Low Interest Rate Environment The cost of capital has been relatively low and as a result a number of large office tenants have purchased, or are considering the option to purchase their own office facilities rather than continuing to pay rent to a third party landlord. For companies that have the access to financing or capital, the strategy of purchasing allows them to fix their occupancy costs and allow firms to build equity in real estate. Desire for Efficient Office Space “Collaborative” office space is becoming popular among designers and technology firms. The modern space plan of an office space allows for the reduction of cubicles and private offices. The increase in space efficiency decreases the demand in the marketplace for larger office footprints. Adoption of Mobile Technology …

Rail and TOD News Update

Rail Construction Update The Rail Operations Center aka ROC is  80% complete. This complex is comprised of several buildings including the Operation Services Building (OSB), Maintenance of Way (MOW), Wheel Truing Building (WTB) and Train Wash Facility (TWF). A close look at the photo shows the tracks in place for moving the cars in and out of the ROC. With the expected arrival of the first rail cars early next year, it is good news that this facility will be ready to receive the cars. Other progress was noted during September’s HART Board meeting. A quick rundown shows the following percentage of completion along the route: West Oahu Farrington Guideway 71.7% Kamehameha Guideway Physical Construction 39.6% Airport Utilities Physical Construction 16.8% Airport Seven Piers 100% (an interesting side note to this item is some forward thinking on the part of HART and the contractor to coordinate this construction with the State Department of Transportation’s work on the new long-term parking facility.) Notice to Proceed (NTP) has been issued and ground breaking ceremonies will be scheduled …