Ten with Ben

Today we are joined by Michelle Jones, Director of Interiors at Shive-Hattery. With over 20 years’ design experience, Michelle has always been driven by creating something new and bringing it to life — the office is an art form. With so many facets, there is always something to be learned throughout each project while staying on top of trends.

But in today’s ever-changing world, the biggest question seems to be, “how do we do the next project better?” Bringing an architect in from the beginning of your project is the best place to start. In order to create a true collaboration among office tenant and architect, timing is key. Even while touring space, Michelle suggests bringing your architect along to provide critical feedback and visionary tools to provide crucial elements in a thoughtful vision for your workplace. 

It’s clear that the office is here to stay, so how do you build a space when you don’t know what the next five years will look like? Are there best practices for tenants
 to follow? 

Michelle’s advice: start with asking how you’re going to use your space. 

Real estate is a relationship business, but it’s not often you get to work with a lifelong friend. In this Ten With Ben episode we’re joined by Aaron Zaretsky, Leasing Director at Urban Innovations, an integrated real estate development company. Aaron’s path crossed with Ben’s more than 40 years ago, decades before either had closed a lease deal.

As these long-time friends catch up on the state of the market, Ben and Aaron discuss the importance of nurturing long-term relationships with clients. People have good memories, so how you treat them matters, especially when it comes to big moments like leasing office space. It may be an everyday experience for a broker, but not for most business owners.

And the relationship-building doesn’t end when the lease is signed. Being present for all stages of your client’s growth and being a trusted, ever-present partner are the foundations for success in commercial real estate, and in business in general.

In our latest episode, Ben sits down with Tim Brigham, all-star mortgage broker and BA client. With a competitive spirit and laser-sharp focus on his customer’s needs, Tim’s found a winning combination for success in real estate, and in life. In addition to managing Union Home Mortgage’s Chicago office, Tim runs the Superhero Collective, a non-profit that brings comic-book heroes to life for children’s hospitals all around Chicago.

Whether he’s swapping a business suit for a batsuit or locking-in fixed-rate financing for a new family’s first home, Tim’s authentic passion for people resonates with his customers and with us.

With 30 years of experience in commercial real estate, today’s guest knows what the fundamentals of the business are all about. Meet Laurence Elbaum, Principal and Co-Founder of Bradford Allen.

When he began Bradford Allen with business partner Jeffrey Bernstein in 2003, he was certain of just one thing: BA would succeed, because failure was not an option. That mindset has translated into a philosophy that continues to drive the firm today. Listen in as Larry explains why technology will not replace the ground work involved in CRE, the importance of knowing the value of a dollar for your client, and how our investment strategy changed during the course of the pandemic.

As BA’s suburban portfolio grows, the comparisons to downtown become more prevalent. While Chicago's Loop has not seen the same return to work as many suburban buildings, Larry speculates that new changes will come as Gen Z’s presence emerges within the work force.

We’re back with another special guest in today’s Ten with Ben: Andy DeMoss, the firm’s lead downtown agency broker. Having known each other for over a decade, Ben and Andy discuss the past, present, and future of the Chicago market. 

Listen as they explore the importance of communication between landlords and tenants, what improvements landlords have been making to keep their buildings relevant, and the heavy concession packages tenants have been acquiring. 

Although a vaccine doesn’t mean we’re out of the woods yet, the two have seen enough through the years to keep them excited and driving Chicago’s commercial real estate forward.

“Is today the day we return to pre-pandemic days?”

If you’re like Ben, this has been a question you’ve asked yourself more than once over the past year. The what if’s keep us guessing as to what could have happened and what may happen next.

This week, Ten with Ben is back to bring some insight into how office leasing has changed due to the pandemic. Ben answers questions like: “Would deal terms be the same if the pandemic never happened?”

Negotiating deals in the current environment is giving tenants incentives like how they can use their tenant allowance and rent abatement. The market will continue this way for a while, potentially through 2023, and one thing is clear — it is essential to take advantage of the current situation and capture the savings of this moment in time.

Ben is back, and like most of us, he’s ready to leave 2020 in the rearview mirror! Kick off the new year with Episode 007 of Ten with Ben.

We all hope 2021 will bring lots of excitement, but like Ben says, even after 20 years in the industry, “You just never know!” Listen as he discusses the differences between speculation and reality, why there is no doubt companies will come back to the office (eventually), and what “pent-up demand” means. Even after the COVID-19 vaccine is widely available, it won't just be like flipping a switch getting back to our normal routines. Office schedules will still vary through at least the next 18 months.

The year will bring uncertainty, but more importantly, it will bring evaluation and opportunities to both landlords and tenants.