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When it comes to navigating the complex world of commercial real estate, many businesses are discovering that outsourcing their real estate needs can be a game-changer. Whether you’re looking to lease office space, buy…

The Smart Move: Outsourcing Commercial Real Estate Needs

In today’s fast-paced business landscape, managing corporate real estate projects can be a complex and resource-intensive endeavor. Whether you’re planning a new office space, renovating an existing one, or expanding to a new location, the…

Streamline Your Corporate Real Estate Projects with Expert Project Management

Introduction Starting from January 1, 2022, there’s a new rule for how companies deal with leases called ASC 842. This rule changes how companies look at lease accounting, and it’s different from the old rule,…

What You Need to Know About ASC 842 Lease Accounting?

In the current commercial real estate landscape, a common perception among business leaders is that office space is leasing at “bargain-basement” prices. Many believe that tenants can secure incredible deals, with landlords offering to custom-build…

Perception vs. Reality of Office Space Costs

The workplace has undergone seismic shifts in recent years, forcing business leaders to rethink how office space impacts their organizations. What was once considered a simple operational expense is now being reevaluated as a strategic…

Office Evolution: Challenges and Opportunities for Business Leaders

There has certainly been enough in the news about companies requiring employees to return to the office. It seems that nearly every day, we learn another large employer has announced employees need to be in…

Return to Work Barometer

An article I recently read by a colleague of mine, King White, inspired me to sound off on the impact of companies “Return to Office” policies intended to bring employees back into the office on…

The Impact of “Return to Office”

Many business leaders view office space as mere overhead, but it can be a major asset to a company's growth. The right office environment can either foster success or hinder progress. Here's why it…

Is Your Office Helping or Hindering Growth?

I recently caught up on an ongoing study by Gallup about employee engagement and workplace culture, and how they relate to a company's performance. The study was started in 1998 with roughly 2,500 businesses and…

Gallup Q12 Study

Because the pandemic ushered in a seismic shift towards remote and hybrid work models, tenants have been rethinking their office space needs and strategies. While some companies are doubling down on in-office collaboration, many are…

Optimizing Your Office Footprint in the Era of Hybrid Work

If you're an industrial tenant in the Indianapolis market right now, you're well aware that conditions are quite tough. According to the latest market data, the overall vacancy rate has surged to 8.9% - up…

Using This Challenging Industrial Market to Your Advantage as a Tenant

Are you about to sign a commercial lease? Whether you're expanding, relocating, or renewing your lease, making informed decisions is crucial. Here's what corporate tenants need to know before sealing the deal. Understanding the Market…

Navigating Commercial Leases: What Corporate Tenants Must Know

Are you considering relocating your business to a new commercial space? Understanding the ins and outs of Tenant Improvement Allowance (TIA) can significantly impact your leasing decisions. In this guide, we delve into what TIAs…

The Potential of Tenant Improvement Allowance: A Guide for Commercial Tenants

As a commercial tenant, the lease you sign is more than just a legal agreement; it's a critical foundation for your business's success. The terms of your lease can have far-reaching implications for your operations,…

The Art of Commercial Lease Negotiations: A Tenant’s Guide to Securing Favorable Terms

As experts in commercial real estate, we understand the significance of lease renewals for tenants and the importance of navigating this process with confidence. Whether you're a small business owner or a large corporation, these…

Mastering Commercial Lease Renewals: 10 Tips for Tenants

The commercial real estate landscape is ever-changing, marked by the constant movement of tenants. Whether it's moving out due to lease expirations or relocating due to business needs, these transitions can significantly impact both tenants…

Navigating Tenant Move-Outs and Move-Ins: Expert Tips for Commercial Tenants

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Navigating Tenant Move-Outs and Move-Ins: Expert Tips for Commercial Tenants

The Indianapolis office market, mirroring national trends, is navigating through a period of adjustment. With a vacancy rate that has climbed to 9.4%, surpassing the long-term average of 8%, and tenant demand seeing a downturn…

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Attention, all you business warriors! If you're ready to take your company to the next level, it's time to unleash the force of motivated and engaged employees. These rockstars don't just show up for a…

Ignite Your Workforce: Unleashing The Power Of Motivated And Engaged Employees

As the business world evolves and employee expectations shift, retaining top talent has become a significant challenge for companies. The cost of employee turnover goes beyond recruitment and training expenses – it includes lost productivity,…

Retain Your Rockstars: How Investing In Office Keeps The Band Together!

Are you a Chicago small business owner who's tired of being squeezed by high rents, taxes, and the general malaise of a city that's lost its edge? Do you feel like you're fighting a losing…

Chicago Small Businesses Fleeing to Indianapolis: Is Windy City Losing It’s Edge?

As of January 1, 2022, companies are required to comply with the new lease accounting standard, ASC 842. This standard replaces the old lease accounting standard, ASC 840, and significantly changes how companies account for…

Lease Accounting Standard: The Ins and Outs of ASC 842

Chris Carmen began his commercial real estate career in 1985 with Duke Realty Corporation. While at Duke, his responsibilities included office and industrial property leasing, culminating with his role as Vice President of Duke Realty…

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Many businesses exited the COVID pandemic with a changed office model. Some organizations transitioned to an ongoing work-from-home model, some requiring employees to come back into the office as they were prior to the pandemic,…

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Highlights Do you lease office space for your business or own a building that leases space to tenants? If so, you will need to get up to speed on ASC 842 sooner rather than later.…

ASC 842 (Lease Accounting) – Simplified

Over the last two years, we have read about the bleak future of the office market and high vacancies to ad nauseam. The bigger question is what will happen to office buildings that will not…

Residential Conversions Could Breathe New Life into Excess Office Inventory

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The value of connections and relationships

Recently, I read a good article about record spending by landlords on improvements to their office properties and tenants making improvements to their office suites. It seems counterintuitive for each to be spending money in…

Why Landlords are Adding Amenities While Vacancy Rates Soar

I believe the increase in demand for sublease office space is occurring while many companies are sorting out the post-COVID office market. Although many companies have adopted hybrid work models allowing for employees to work…

Increase in Demand for Sublease Office Space in the Post-COVID World

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In the coming weeks, I plan to provide you with real-life experiences with office models that are occurring at the business next door and not the solutions being spewed from theorists who have never had…

From COVID Comes Office Innovation

Let's go ahead and say it; these are extraordinary times. How many times recently have we heard that phrase or seen those words in print? While many of us are wrestling with the trials of…

3 Keys to Tenant Preparedness, Even During a Shutdown

DOWNLOAD PDF GRAPHIC HERE Hiring a tenant rep broker is the BEST thing you can do when beginning to start the search for new office space. Without one, you are putting yourself at risk to…

8 Reasons to Hire a Tenant Rep Broker

Landlords make their biggest profits on the renewal of existing tenant leases. Ironically, most Commercial Tenants believe that during their preceding lease terms, they’ve built a ‘best buddies’ relationship with their Landlords and assume incorrectly…

Renewing Your Lease? Don’t Become a Captive Tenant!

Technology is taking over the world of commercial real estate by storm. New tools, online platforms, and decision-making algorithms are popping up constantly. Some real estate professionals even declare that nowadays, technology is the master of…

Relationships Still Essential in High Tech Commercial Real Estate

As you might imagine, over the 24 years I’ve owned and operated my Indianapolis based tenant representation firm, CARMEN Commercial Real Estate Services, I’ve had the opportunity to see firsthand the many missteps tenants take…

Critical Dates

When counseling business owners and managers on leasing office space and industrial property in Indianapolis over the past 25 years, since founding CARMEN Commercial Real Estate, one of the most common questions I’ve been asked…

Leasing Vs. Buying Commercial Real Estate

My team had a recent experience that provided us with a discouraging view of the commercial real estate brokerage industry. Arthur Rutenberg Homes is a medium-sized Florida-based company that recently opened its first Indiana office.…

Are All Tenants Treated Equally?

Imagine you’ve decided to buy a new car and instead of taking on the dreaded task of walking into the car dealer on your own, you’ve decided to hire your friend and auto buying expert,…

Having A Tenant Rep Is Like Having A Real Estate Concierge

“What could be so hard about finding office space for my company?” Sounds like a fair question. And honestly, finding commercial property for lease isn’t all that hard. It’s finding the perfect space for the right…

Why Do You Need Tenant Representation?

This is the question we’re often asked by Indy entrepreneurs contemplating or starting a new venture. The reason? Because there are no hard and fast rules that define when is the right time to move to traditional office space. …

When Should Indianapolis Startups Move Into Physical Office Space?

https://youtu.be/0dIkJWcuTxg It’s a year and a half before your office lease is up. There are many reasons why you might be considering a move to new office space: maybe you’ve experienced growth, want to attract…

Countdown To Office Relocation

There is a fairly simple way to break down where most of the dollars go for your cost per square foot. It divides into base rent, operating expenses and real estate taxes. What you may not…

The Concept Of Rentable, A/K/A “Ghost” Square Feet

A business retains an outside accountant for financial support of the business. They have an attorney for questions regarding the legal aspects of running the business. But with the office facilities playing such a significant part in…

Do You Have An Accountant, Lawyer And Tenant Advisor?

With so many elements involved in planning and relocating or expanding your office space, it is easy to overlook some of the most important functional items. One of the most underestimated variables is the amount, size, and…

Meeting Space Demand Has Increased In Today’s Office

Has your office jumped on the open office layout bandwagon? If not, you are in the minority according to a Washington Post article. The International Facility Management Association states that 70% of U.S. offices are…

Is The Open Office Trend Destroying The Workplace?

The following is excerpted from Entrepreneur’s Ask the Money Guy, Joe Worth. When a concerned reader asked, “Any advice on how to lease my new location without getting ripped off?”, Entrepreneur’s Joe Worth had some answers. He shared…

How To Find A New Office Space Without Getting Ripped Off

You are driving around or browsing online and you see it: The office building that looks perfect for your company. But you don’t know anything about it. Is it an available office space? What is the…

You Saw A Real Estate Sign In Front Of A Gorgeous, Available Office Space. Now What?

I recently participated in a discussion on the most important variable in making start-up and early-stage companies successful: funding of capital or a talented leadership team. My firm, CARMEN Commercial Real Estate Services, is a professional…

Funding VS Talent

Let’s face it: we now live in a millennial-driven workforce. The demand for modern, creative, and appealing office space creates a massive opportunity for sharp business owners who are clever enough to retain and attract…

5 Critical Reasons To Update Your Office Space (Or Risk Losing Top Talent)

Indiana has done a stellar job of attracting companies to relocate within its borders over the past few years, actively recruiting businesses with financial incentives, low corporate taxes, and low operating costs. These companies have…

Hi-Tech Manufacturing Sees Benefits Of Relocating To Indiana

The concept of “Blend & Extend” with regards to commercial office industrial space leases is certainly not new. However, throughout the downturn of the economy, there’s been a considerable amount of new life breathed into the practice,…

Companies Realize Cost Benefits From “Blend And Extend” Office Leases

You are moving your company to bigger and better things but having to pack up your entire business and relocating it to another new place can be quite complex and stressful. What amount of investment…

How To Estimate The Cost Of Moving Into A New Office Space

As you might imagine, over the 24 years I’ve owned and operated my Indianapolis-based tenant representation firm, CARMEN Commercial Real Estate Services, I’ve had the opportunity to see firsthand the many missteps tenants take with…

Are You Missing These Critical Dates Hidden In Your Lease?

The following blog was originally published on American Express’ Open Forum by Nicole Cober, Esq., Small Business and Legal Analyst, NewsChannel 8. @Niccober. *Original content has been edited and modified for length. As you think…

5 Considerations Before Expanding Your Office Space

I’m always intrigued by the comparison of office rental rates with industry colleagues located in other U.S. and major foreign cities. When you look at Indianapolis office space versus other major cities around the world, the…

Why Indianapolis Office Space Is A Bargain

Indianapolis and the surrounding areas of Carmel, Fishers, and Noblesville have become some of the best communities in the USA for families to live due to their low costs of living and high quality of…

The Problem With Indianapolis Commercial Real Estate

If you’re looking for new office space in Indianapolis, you probably have a checklist list in your head (or maybe even on paper) to make sure the lease gets done right. You want to pay…

14 Essential Questions You Must Ask Your Real Estate Broker When Looking For New Office Space

Do you ever wish you could be a fly on the wall of your competitor just to know what they do to grow their business? What are these things that they are doing that you…

10 Things Your Indianapolis Competitors Can Teach You About Company Culture

You’re not alone in considering if it would be a better decision to purchase your own office space instead of continuing to lease office space. Yes, every organization is unique with its own set of…

Leasing Vs Buying Office Space In Indianapolis

Indianapolis is continually rising as one of the best cities to live in terms of cost of living. Businesses are continuously considering relocating to Indianapolis due to the growing popularity of the Midwestern city as…

The Ultimate Cheat Sheet On Finding Available Indianapolis Office Spaces And Getting The Best Deal

There isn’t a state in the U.S. that isn’t competing to strengthen its economy. The competition? Every other state in the union. The prize? Companies….which bring jobs, keeping the populous happily employed and creating a…

Indiana State Business Tax Incentives

An article in the Indianapolis Business Journal chronicles the story of a couple who moved from Chicago’s northern suburbs to Carmel, Indiana. Not surprisingly, they are finding that their dollars go a lot further in…

Indiana Income Growth Ranks 2nd In Nation

Disputes between landlords and tenants can take many forms. We take a look at how this business aggravation can be remedied with the guidance of tenant representation and present options for managing a tenuous landlord situation. Dealing with a…

Dealing With A Difficult Landlord

Indianapolis has quickly become a hidden secret in the digital marketing and tech community. With heavy hitters like Salesforce, Angie’s List, and ConstantContact calling Indianapolis home, it’s no wonder. We have a strong, deeply connected…

Why Unifying Multiple Office Locations Is Worth It

Indianapolis does not have a shortage of advantages when comparing the Midwestern city to others throughout the country. One of the most highly influential factors is the cost of living. A recent study conducted by Point…

Home Values Bolster Indianapolis’ High Ranking As The Place To Relocate A Business

You’ve concluded that an office relocation is imperative. For any number of reasons, you’ve made the decision to move. Maybe you were in your old space and believe an image makeover is needed to attract new talent. Or…

You Want To Relocate Your Office. Now What?

I recently read a peer’s blog post titled “5 Signs You Need New Office Space”, which I thought was valuable and worth sharing. However, I believe what might be more relevant is the top reasons today’s…

5 Reasons To Relocate Your Office

Most tenants are unfamiliar with negotiating an office lease renewal. Some may not even realize they have the opportunity to do so! Typically their broker advised them of their current lease, so they are not…

10 Expert Tips For Negotiating An Office Lease Renewal

With recent announcements of expansions and relocations of tech companies to Indianapolis, there has been an increase in the demand for top talent, particularly with computer science skillsets. The new Silicon Prairie is gaining recognition for its…

Indianapolis Trending As Favorite Of Young Tech Talent

Indiana continues to be the new home of tech companies with the relocation of Emarsys’ headquarters to the state’s capital. The news of the Austrian company’s relocation to Market Tower was released early 2015. Emarsys’ expansion…

Indianapolis Makes Office Relocation As Simple As ABC

Startups are becoming increasingly familiar with the tech industry surging with growth, innovation, and talent. Although starting a tech business may seem like an exciting endeavor, plenty of uncertainty tends to hover around the idea of creating…

Innovative Office Spaces For Tech Startups

For years, researchers have theorized about the amount of productivity gained or lost from employees working from home. Each business is different in its potential to allow employees to work remotely, depending on the industry, time spent…

Why You Need To Encourage Employees To Work From Home

When a business owner or manager considers relocating the business, it’s not uncommon for them to consider a number of locations to find the best fit for their business. Although each business has its own…

Step 2: Renegotiate Lease, Step 1: Shop Around!

Today, Determine Inc. announced the relocation of its corporate headquarters to Carmel, Indiana. The San Mateo, the California-based company, a provider of SaaS management and solutions, marks another win for Indiana as it grows in…

Indiana’s ‘Silicon Prairie’ Continues To Attract Tech Companies

“Don’t allow yourself to be backed into a corner.” I’ve repeated this phrase to countless business owners and managers when discussing office lease expiration. I’ve spent much of the past 31 years negotiating office leases…

Office Lease Procrastination

It’s common knowledge that the technology industry is booming, with new startups emerging at a rapid pace. With newfound growth, these companies are also considering relocation and the criteria that merits a move. Indianapolis has emerged as…

Indianapolis Emerges As Latest Tech Hub

Since starting my career leasing office and industrial space over 30 years ago, real estate abatement has consistently been a tool that landlords use to procure new tenants. In addition to simply being a landlord incentive for tenants…

The Truth About Free Rent

5 Key Considerations For Expanding Your Business

The ongoing debate around the ideal work environment – open office layouts, co-working space or a remote workforce, leads to the inevitable question of: “How will we choose?” This post is a reference for several options for…

Office Space: What Working Environment Is Right For You?

Top commercial real estate agents, Indianapolis agents, and agents elsewhere will agree. Working directly with tenants or potential tenants can be challenging. Why? Well, it isn’t the tenant’s fault, but they are typically unfamiliar with…

Tenant Rep = A Broker’s Best Friend

When you’re searching for a home, you have to consider the costs that you may incur with realtors on the buying and selling side. But when tenants consider who they hire for leasing or buying office…

4 Things You Need To Know About Tenant Representation

It’s 18 months before your lease it up and if you are like most people, lease renewal and/or office relocation are the last things on your mind. Timeframes may vary based on a number of…

Countdown To Lease Renewal

I began my career in Indianapolis commercial real estate nearly 30 years ago and launched my own business, CARMEN Commercial Real Estate Services in 1993. In the 22 years since starting CARMEN, I can…

The Most Valuable Lessons Learned In Commercial Real Estate

Whether it is the start of an office lease or a lease renewal, the lease negotiation process is a critical time for determining a successful outcome of the tenant’s lease utilization. The negotiation process offers the opportunity…

5 Biggest Mistakes Tenants Make During Lease Negotiation

As a design partner for Carmen, clients often seek my expert advice on colors to use in their office space. We find that many companies are increasingly interested in how they can use color to create a productive, functional, and aesthetically pleasing design in their workspace environment. Have you ever…

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