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How CRE Owners Optimize Project Bidding for More Profitable Outcomes

Like all entrepreneurial thinkers, commercial real estate owners want to refine and standardize as many business variables as possible, in order to control for better outcomes.

Project bidding—a process whose success depends on the accuracy of a trove of data points and the seamless collaboration of diverse industry practitioners—is one of the most sensible places to optimize.

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6 Absurd Things CRE Teams Say About Approvals and How to Address Them

The commercial real estate approvals process is one of the more frustrating components in a project cycle. It is predictable and unavoidable and expansive, encompassing budgets, vendor selection, invoices and change orders. But somehow it’s usually neglected—not in being completed, but in being optimized.

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5 Problems Good Cost Tracking Can Uncover in Your CRE Projects

Capital, construction and tenant improvement projects involve numerous evolving and shifting factors, making good cost tracking practices essential to accurately monitor project spend against the budget. But smart property owners and managers know that job financials can also be one of the best places to uncover early warning signs that a CRE project might be in jeopardy.

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Five Security Considerations for CIOs & CTOs Evaluating SaaS CRE Technology

Adoption of cloud-based SaaS platforms is becoming common for enterprise organizations, including commercial real estate owners and managers. The cost savings and convenience of the SaaS model are very compelling relative to more traditional on-premises software installations. However, there are some special considerations to take into account when evaluating this class of enterprise software.

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McKinsey Construction Report Has Compelling Advice for CRE Owners

McKinsey & Company released an insightful report on why the construction industry lags so far behind other major industries in productivity, and what can be done to fix the problem.

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How long does the bid process take for most CRE projects?

For all its positives, properly bidding a project requires a major investment of time on the part of commercial real estate owners and their teams. Even simple bid processes require hours of preparation on the part of the project manager, and then typically require several days for the vendors to prepare their bids, followed by leveling, negotiation, and, finally, award.

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The Rise of the CIO / CTO in Real Estate

The race to digital transformation in real estate business and operations is well under way, resulting in CRE organizations integrating and elevating the roles of key members of their leadership team - namely the Chief Information Officer (CIO) and Chief Technology Officer (CTO). These executives have experienced an accelerated evolution in their roles over the past few years. They’re now responsible not only for the strategic technical direction of their companies but also for playing a crucial role in achieving the company’s overall business goals.

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The Risk of Your Capital Plans Is in the Smaller Projects

When it comes to capital projects, it’s easy for owners to see the benefits of optimizing operational efficiency on large-scale, multi-million dollar jobs like lobby renovations and other major repositioning projects. Big projects require a large concentration of resources and efforts, and their success or failure greatly impacts the bottom line of an entire portfolio.

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2017 Is Not the Time to Underspend on CRE Capital Budgets

At first glance it could seem as though underspending a commercial real estate portfolio budget is a good idea. After all, it seems to make sense to save dollars today; but, as many leaders in the industry know, failing to deploy budgets allocated for capital projects actually results in longer-term growth inhibition. Leading commercial real estate services firm JLL reports that 72 percent of Forbes 1000 companies underspend on their portfolios, limiting future growth.

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CRE Experts' Tips on Controlling the Cost of Tenant Improvements

Tenant improvement projects are getting a lot of attention even in the early days of 2017. In the January article Manhattan Office Owners Pay to Keep Tenants as Demand Falls, Bloomberg News reports, “Manhattan office landlords are facing falling rents and heightened competition, spurring unprecedented spending to accommodate tenants.” Owners in Midtown Manhattan are undertaking broad swaths of projects, including TI projects, not only to stay competitive but also in preparation for refinancing.

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