Presentation delivered by Jiachen Lee and Alastair Townsend of UW's Masters of Science in Real Estate program to the ULI's Industrial and Office Park Product Council at the 2017 Spring Meeting in Seattle.
Jobs for the Future: Using Technology to Empower in the 21st Century EconomyTess Gilman Posner
There are trends that are significantly impacting work and the economy. The pace of change is increasing and the skills we need to be successful in the new economy are evolving. Unfortunately, if we continue with some of the current trends, some people stand to benefit from the way that work is evolving, and others could be excluded. Read more about the future of work trends and how technology can be an equalizer and begin to present new opportunities for those that are excluded.
Our annual report finds significant numbers of startups continue to have no women in leadership, yet a growing percentage have programs in place to change that.
Attracting and retaining talent is now a strategic imperative at the board-level of insurance companies. Competition for talent and generational changes as to expectations and values within the work place are contended and affect recruitment objectives.
2015 Tech M&A - 1H: 2015 MidYear ReportCorum Group
July 16, join us as we mark the halfway-point of 2015--another remarkable year for tech M&A, as booming public markets, resurgent IPOs, record-setting buyer cash and disruptive technologies continue to drive deal flow. We’ll look back at the notable deals, high valuations and key trends in all six tech markets and 29 subsectors. We'll also look again at the Top 10 Disruptive Technology Trends for 2015, looking at their impact so far this year. Plus, deal reports from the M&A trenches on transactions just closed in the insurance and government verticals.
Tech M&A Monthly: 9 Practical Tips for Presenting to AcquirerCorum Group
Presenting your company to potential acquirers is unlike any other kind of presentation. You’ve pitched products, investors and partners, but when the product itself is your company, it requires a new approach for what could be the most important presentation of your life. Thursday, August 10, Corum’s global team of dealmakers will walk through nine practical tips for giving management presentations during the tech M&A process. What should you present? How should you present it? Who should be involved? We’ll walk through key insights based on decades of experience to help you prepare. Plus, deals, trends and valuation metrics from across the technology industry.
September 2017 U.S. employment update and outlookJLL
The national labor market saw 156,000 net new jobs added in August, a solid figure but below expectations. Additionally, previous months registered downward revisions to job growth, muting some of the rebound witnessed during the summer. Continuing a trend that has intensified in recent quarters, a lack of skilled workers combined with minimal unemployment and external difficulties such as housing affordability in tech hubs have significantly slowed tech growth over the year. Even with inconsistent inflation, sustained job growth could likely encourage another Federal Reserve rate hike in the near term.
Jobs for the Future: Using Technology to Empower in the 21st Century EconomyTess Gilman Posner
There are trends that are significantly impacting work and the economy. The pace of change is increasing and the skills we need to be successful in the new economy are evolving. Unfortunately, if we continue with some of the current trends, some people stand to benefit from the way that work is evolving, and others could be excluded. Read more about the future of work trends and how technology can be an equalizer and begin to present new opportunities for those that are excluded.
Our annual report finds significant numbers of startups continue to have no women in leadership, yet a growing percentage have programs in place to change that.
Attracting and retaining talent is now a strategic imperative at the board-level of insurance companies. Competition for talent and generational changes as to expectations and values within the work place are contended and affect recruitment objectives.
2015 Tech M&A - 1H: 2015 MidYear ReportCorum Group
July 16, join us as we mark the halfway-point of 2015--another remarkable year for tech M&A, as booming public markets, resurgent IPOs, record-setting buyer cash and disruptive technologies continue to drive deal flow. We’ll look back at the notable deals, high valuations and key trends in all six tech markets and 29 subsectors. We'll also look again at the Top 10 Disruptive Technology Trends for 2015, looking at their impact so far this year. Plus, deal reports from the M&A trenches on transactions just closed in the insurance and government verticals.
Tech M&A Monthly: 9 Practical Tips for Presenting to AcquirerCorum Group
Presenting your company to potential acquirers is unlike any other kind of presentation. You’ve pitched products, investors and partners, but when the product itself is your company, it requires a new approach for what could be the most important presentation of your life. Thursday, August 10, Corum’s global team of dealmakers will walk through nine practical tips for giving management presentations during the tech M&A process. What should you present? How should you present it? Who should be involved? We’ll walk through key insights based on decades of experience to help you prepare. Plus, deals, trends and valuation metrics from across the technology industry.
September 2017 U.S. employment update and outlookJLL
The national labor market saw 156,000 net new jobs added in August, a solid figure but below expectations. Additionally, previous months registered downward revisions to job growth, muting some of the rebound witnessed during the summer. Continuing a trend that has intensified in recent quarters, a lack of skilled workers combined with minimal unemployment and external difficulties such as housing affordability in tech hubs have significantly slowed tech growth over the year. Even with inconsistent inflation, sustained job growth could likely encourage another Federal Reserve rate hike in the near term.
How will the future of work look like?
The impact of automation on jobs.
Skills needed for the future.
How is big data & analytics impacting the business world and society, in general?
Freelancing - the future of work?
Learning how to code software.
High impact presentation deck created in PowerPoint
David-Paul Ivanciuc - author.
All rights reserved for the beneficiary of the presentation: David Brown of dbrownconsulting U.K.
Silicon Valley Bank's Startup Outlook 2018 captures perspectives from US technology and healthcare entrepreneurs on the opportunities and challenges they see ahead for startups.
US startups tell SVB they are entering 2018 with confidence:
- Nearly two of three US startups believe that 2018 will be better than last year
- The number that plan to hire is at a five-year high
- Most startups expect M&A activity to stay strong
- Venture capital remains the go-to source for future funding
Read more at http://bit.svb.com/2DLLcgZ
The 2015 Millennial Majority Workforce: Study ResultsElance-oDesk
Millennials will be the largest generation in the U.S. workforce as of 2015. Yet businesses have a difficult time hiring members of this youngest professional generation. Disjoints abound as the nation’s workforce shifts -- millions of jobs remain unfilled while many millennials struggle to build careers. This study reveals changes in how we work, generational differences, and the critical role millennials play for businesses as we move forward.
Our 2016 State of Hardware Report, featuring data from over 200 hardware industry professionals around prototyping tools, preferred CAD software programs, what's build in-house vs outsourced, and more.
2014 Tech M&A Monthly - Deal Structures TodayCorum Group
With healthy capital markets, booming public markets and a resurgent IPO environment, deal structures are beginning to move away from the cash-only rules of the last few years. Buyers are using more stock and earn-out, while leveraging cheap debt to sometimes make acquisitions beyond their reach just a couple years ago. When should you consider stock? What’s the role of earn-outs? How should you approach non-competes? Find out during the September edition of Tech M&A Monthly.
New research from Accenture and Girls Who Code shows that the gender gap in computing is getting worse and has severe implications for the U.S. economy. If we act now, we can triple the number of women in computing by 2025. Let’s #CrackTheCode. Learn more at www.accenture.com/CrackingTheGenderCode.
Public markets are hitting records, valuations are at all-time highs, and buyers are hungry for companies with the disruptive technology they need to succeed in this era of rapid change. How should technology company owners, investors and executives be thinking about M&A in today's environment? How long will this boom last?
July 13, tune in to the Tech M&A Monthly Midyear Update, for a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, an update on this year's Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Visual Intelligence Systems and Connected Health driven deals this year? What’s next? What do these complex, interrelated trends mean for your company's future? Join Corum’s research and deal teams for the 2017 Midyear Global Tech M&A Update.
At the Marcum Tech Top 40 event, forty companies are recognized for outstanding revenue growth. Each TT40 company is categorized under one of six industry verticals.
Andreas Tschas - Pioneers - Building Startup Marketplaces in Europe & Asia - ...Burton Lee
Talk by Andreas Tschas, CEO & Co-Founder, Pioneers Festival, at Stanford on Feb 22 2016, in our session on 'Startup Marketplaces & AI FinTech Founders :: Vienna & Portugal'.
Website: http://www.StanfordEuropreneurs.org
YouTube Channel: https://www.youtube.com/user/StanfordEuropreneurs
Twitter: @Europreneurs
Across the globe, more than 7.2MM professionals make their living by working in a software engineering capacity - and the United States is home to about ¼ of that population. In this report, we leverage profile, engagement, survey and labor market data to help you learn what makes these professionals tick - and ultimately, how to hire the best for your organization
How will the future of work look like?
The impact of automation on jobs.
Skills needed for the future.
How is big data & analytics impacting the business world and society, in general?
Freelancing - the future of work?
Learning how to code software.
High impact presentation deck created in PowerPoint
David-Paul Ivanciuc - author.
All rights reserved for the beneficiary of the presentation: David Brown of dbrownconsulting U.K.
Silicon Valley Bank's Startup Outlook 2018 captures perspectives from US technology and healthcare entrepreneurs on the opportunities and challenges they see ahead for startups.
US startups tell SVB they are entering 2018 with confidence:
- Nearly two of three US startups believe that 2018 will be better than last year
- The number that plan to hire is at a five-year high
- Most startups expect M&A activity to stay strong
- Venture capital remains the go-to source for future funding
Read more at http://bit.svb.com/2DLLcgZ
The 2015 Millennial Majority Workforce: Study ResultsElance-oDesk
Millennials will be the largest generation in the U.S. workforce as of 2015. Yet businesses have a difficult time hiring members of this youngest professional generation. Disjoints abound as the nation’s workforce shifts -- millions of jobs remain unfilled while many millennials struggle to build careers. This study reveals changes in how we work, generational differences, and the critical role millennials play for businesses as we move forward.
Our 2016 State of Hardware Report, featuring data from over 200 hardware industry professionals around prototyping tools, preferred CAD software programs, what's build in-house vs outsourced, and more.
2014 Tech M&A Monthly - Deal Structures TodayCorum Group
With healthy capital markets, booming public markets and a resurgent IPO environment, deal structures are beginning to move away from the cash-only rules of the last few years. Buyers are using more stock and earn-out, while leveraging cheap debt to sometimes make acquisitions beyond their reach just a couple years ago. When should you consider stock? What’s the role of earn-outs? How should you approach non-competes? Find out during the September edition of Tech M&A Monthly.
New research from Accenture and Girls Who Code shows that the gender gap in computing is getting worse and has severe implications for the U.S. economy. If we act now, we can triple the number of women in computing by 2025. Let’s #CrackTheCode. Learn more at www.accenture.com/CrackingTheGenderCode.
Public markets are hitting records, valuations are at all-time highs, and buyers are hungry for companies with the disruptive technology they need to succeed in this era of rapid change. How should technology company owners, investors and executives be thinking about M&A in today's environment? How long will this boom last?
July 13, tune in to the Tech M&A Monthly Midyear Update, for a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, an update on this year's Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Visual Intelligence Systems and Connected Health driven deals this year? What’s next? What do these complex, interrelated trends mean for your company's future? Join Corum’s research and deal teams for the 2017 Midyear Global Tech M&A Update.
At the Marcum Tech Top 40 event, forty companies are recognized for outstanding revenue growth. Each TT40 company is categorized under one of six industry verticals.
Andreas Tschas - Pioneers - Building Startup Marketplaces in Europe & Asia - ...Burton Lee
Talk by Andreas Tschas, CEO & Co-Founder, Pioneers Festival, at Stanford on Feb 22 2016, in our session on 'Startup Marketplaces & AI FinTech Founders :: Vienna & Portugal'.
Website: http://www.StanfordEuropreneurs.org
YouTube Channel: https://www.youtube.com/user/StanfordEuropreneurs
Twitter: @Europreneurs
Across the globe, more than 7.2MM professionals make their living by working in a software engineering capacity - and the United States is home to about ¼ of that population. In this report, we leverage profile, engagement, survey and labor market data to help you learn what makes these professionals tick - and ultimately, how to hire the best for your organization
This is the webinar that was done on HCI by Microsoft E&D on how they are building their talent communities using Jobs2Web and other web 2.0 technologies.
Digging Into Data to Create Hiring Strategies That WorkIndeed
Data, data, everywhere—but not sure what to think? With heaps of data at your fingertips, figuring out what data to use and how to apply it to your talent attraction strategy can be intimidating. In this session, Indeed Director of Employer Insights Kevin Walker shares practical advice for breaking down the data to glean insights that make your job easier. Learn to use new analytics capabilities that tap into Indeed’s 6 terabytes of daily collected data to better understand market conditions in the cities where you need to hire, how you rank against competitors and how to harness click data to maximize recruitment ROI.
More people find jobs on Indeed than anywhere else. Indeed is the #1 job site in the world and allows job seekers to search millions of jobs on the web or mobile in over 60 countries and 28 languages. 180 million people each month search for jobs, post resumes and research companies on Indeed, and Indeed is the #1 source of external hires for thousands of companies. (sources: SilkRoad & iCIMS).
For more information about how Indeed can help you hire, visit indeed.com/hire.
BLS & Co. helps some of the world’s largest corporations identify the best locations, negotiate incentives, secure development approvals and optimize energy strategies.
BLS & Co. Managing Director, Andy Shapiro heads the firm's location advisory practice from its San Francisco Bay Area office, helping clients translate their business objectives and strategic vision into rational, balanced location decisions.
Check out this presentation that Andy Shapiro recently gave to CoreNet Global on location decision trends.
Watch our webinar recap to learn what are the key considerations to navigate the Latin America region successfully and grasp the full value of nearshoring for your IT organization in 2023 and beyond.
Leveraging Data to Engage Citizens and Drive InnovationThomas Robbins
Socrata helps public sector organizations improve transparency, citizen service, and data-driven decision-making using Open Data. Our user-friendly solutions deliver data to governments trying to reduce costs, to citizens who want to understand how their tax dollars are used, and to civic hackers dedicated to creating new apps and improving services.
With megadeals for companies like Linkedin, Blue Coat, Demandware and more rocking the tech industry, where does that leave your company? What does the landscape look like for privately held software and related technology companies, and how should owners, investors and executives approach the M&A market in the latter half of 2016? Tune in to the Tech M&A Monthly Mid-Year Update, for a detailed analysis of the key deals, trends and valuation metrics across all six technology sectors and 30 subsectors. Plus, we’ll get an update on the Top 10 Disruptive Technology Trends—how have trends like AI Enablement, Location Intelligence and Connected Health driven deals this year, and what’s next? How do these complex, interrelated trends impact the M&A outlook for your company? Join Corum’s research and deal teams July 14 for the Mid-Year Global Tech M&A Update.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
Are you searching for your dream home? Finding the perfect house involves more than just browsing listings; it’s about discovering a space that fits your lifestyle and needs. Whether you’re looking for a cozy suburban home, a chic urban apartment, or a spacious rural property, the right real estate can transform your life. Consider the location, amenities, and potential for future growth. Think about the community, nearby schools, and the convenience of shopping and transportation. A good real estate agent can guide you through the process, from identifying suitable properties to negotiating the best deal. Your dream home is out there, waiting to be found – let’s embark on this journey together!
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
2. Agenda
• Which cities’ are growing and why?
• How does tech drive rapid growth?
• What makes a tech cluster?
• Is competition among tech hubs heating up?
• Are there risks, and how might we manage them?
• What can we learn from Seattle’s past?
3. Tech’s Appetite for Space
US Leasing Trends by Industry
High-Tech
Financial Services
Business Services
Healthcare/Life Sciences
Creative Industries
Legal
Insurance
Government
Energy
2016
2015
2014
2013
Source: CBRE Research
0% 5% 10% 15% 20%
4. Runaway Tech
Growth for Tech & Creative Jobs
High-Tech Software/Services
Media Entertainment
Biotech
Telecom
U.S. Total Non-Farm Office Jobs (excl. tech)
High-Tech Manufacturers
Design Services
Source: CBRE Research
5. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0%
Orlando
Nashville
Jacksonville
Atlanta
Dallas-Fort Worth
Riverside
Charlotte
Las Vegas
Salt Lake City
Seattle
Tampa
Raleigh
Grand Rapids
Kansas City
Austin
High in Tech
Comparative Year-on-Year Job Growth (Feb. 16/17)
Source: Bureau of Labor Statistics, Employees on nonfarm payrolls by state and metropolitan area, not seasonally adjusted
14. Jobs That Produce More Jobs
Comparing stimulative effects
Hi-Tech
Worker
X 5.0
Manufacturing
Worker
X 1.6
Source: Enrico Moretti, The New Geography of Jobs
25. 2 – Resources [ VCs ]
Source: Enrico Moretti, The New Geography of Jobs
26. Seattle
$727m [2.5%]
Raleigh
(Durham)
$258m [0.9%]
Dallas
$308m [2.1%]
San Francisco
$6,471m [21.8%]
San Jose
$4,175m [14.1%]
Total VC Investment
Total investment in millions [% North American Total]
Austin
$626m [2.1%]
Source: The Martin Prosperity Institute
35. $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000
0 100 200 300 400 500
UNC [Raleigh]
U. of Washington [Seattle]
Duke [Raleigh]
U. of Texas [Dallas/Austin]
UC Berkeley [San Francisco]
Stanford [San Jose]
VC-Backed Firms Founded (2010-2016)
Capital Raised in Millions (2010-2016)
Universities as Incubators
Startups (grey) & VC capital (green) generated
Source: 2016 Scoring Tech Talent,
CBRE Research
38. Tech Renters
Tech Renters’ Disposable Incomes vs. Job Opportunity
Sources: LinkedIn, Zillow
Percent Hired Last Year
%Post-TaxDisposableIncome
39. Tech Home Owners
Tech Owners’ Disposable Incomes vs. Job Opportunity
Sources: LinkedIn, Zillow
Percent Hired Last Year
%Post-TaxDisposableIncome
40. Where the Grass is Greener
What Zillow’s Website Metrics Reveal
Source: Zillow
41. Comparing Costs to the Valley
$217K
$109K
$145K
$103K $108K
San Jose Dallas Seattle Raleigh Austin
$50/sf
$25/sf
$35/sf
$21/sf
$34/sf
Office Cost
Direct asking rent
Wages
Avg. Tech. Wage
Sources: JLL, Technology Office Outlook | Zillow | CompTIA Properties, LLC.
42. Seattle
Bay Area companies with Seattle offices
375k SF
(2016*)
607k SF
(2019)
335k SF
(2016)
543k SF
(2018)
Future Total: 982k SF Future Total: 878k SF
*Google expanded its presence in Kirkland by 180,000 square feet in 2016.
43. What are the risks,
and how might we
manage them?
44. Location Quotients
MSAs with the highest location quotients
Tech Healthcare Biotech
1 San Jose 5.24 Inland Empire 2.62 N. New Jersey 3.67
2 Austin 2.53 Memphis 2.43 Boston 3.66
3 Raleigh 2.08 Nashville 1.92 Memphis 3.08
4 San Francisco 1.95 Indianapolis 1.76 Orlando 2.80
5 San Diego 1.74 Norfolk 1.72 San Diego 2.43
Sources: Pacific Coast Capital Partners, BLS
45. Location Quotients
MSAs with the highest location quotients
Finance Energy Defense
1 Stamford 1.84 Houston 9.84 Orlando 4.31
2 New York 1.66 Oklahoma City 9.50 Washington, DC 3.49
3 Charlotte 1.66 New Orleans 5.45 Norfolk 2.99
4 Minneapolis 1.29 Richmond 2.64 Baltimore 2.06
5 Jacksonville 1.27 San Antonio 2.55 Boston 1.77
Sources: Pacific Coast Capital Partners, BLS
54. What Could Go Wrong?
NASDAQ Composite Index
1995-2001:
dot-com bubble
?2007-2008:
financial crisis
55. Thank You!
Jiachen Li jiachenl@uw.edu
Univ. of Washington MSRE ’17
Alastair Townsend alatown@uw.edu
Univ. of Washington MSRE ‘17
Editor's Notes
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We’re going to be talking about which cities are growing and why.
The answer is mainly due to the high-tech industries, so we’ll be covering how they are unique in terms of stimulating growth.
Then we’ll be looking at why tech tends to cluster in high concentrations, and whether competition among these clusters is heating up.
Finally, we’ll touch on where other growth industries are concentrated, and a couple broad strategies for managing the risks associated with them.
This chart from CBRE Research tracks the 25 largest transactions across 54 markets.
We can see that over the last four years, the growth of the high-tech industry has driven the largest share of these transactions.
It has consistently beaten financial and business services.
Meanwhile, Healthcare and Life Sciences have also been a dominant player.
On the bottom end of the scale, energy has been consistently declining year-on-year.
Jobs are what drives real estate demand.
This graph charts some of the high-tech and creative industries leading the post-recession jobs recovery, compared to the national average (in orange).
Meanwhile, the high-tech software and services sector (dark green) has grown at a dramatic rate – four times the national average between 2011 to 2015.
Biotech has made more modest improvements, while high-tech manufacturing and telecoms have contracted since 2007.
According to the latest available nonfarm employment data from the Bureau of Labor Statistics, these are the fifteen fastest-growing labor markets with working populations over 500 thousand.
Ten of the fifteen fastest growing major US cities are considered to be "tech hubs”, shown here in green.
Dallas, Seattle, and Raleigh are already established tech hubs.
While Nashville, Charlotte, Salt Lake City, and Kansas City – are small, and emerging tech hubs.
Although tech is a leading driver of growth, we don’t see San Jose or San Francisco on the top of this list. We assume that hiring is slowing in those markets due to intense competition for tech talent.
As we discuss some of the unique factors that drive growth in concentrated tech markets, we’ve selected a few of these fast-growing tech hubs to illustrate our points.
These cities are…
Seattle, of course.
Home to Microsoft, Washington has more software publishing jobs than any other state, including CA.
Thanks to Amazon, its also the capital of cloud computing and online retail.
The Puget Sound Region also pays the highest tech-sector wages outside of the Bay Area.
Dallas is the seventh-largest tech hub in the US.
Texas Instruments, AT&T, ExxonMobil, HP, Dell, and XEROX are just a few of the major technology companies that have a strong presence in the Dallas region.
It ranks in the top-ten U.S. markets for technology patent generation in computers, IT, telecoms and biotech.
Housing in the city is very affordable and there is no state or local income tax, making Dallas a bargain compared to other tech hubs.
The tech scene in and around Raleigh is also booming, thanks to the presence of Red Hat, SAS, IBM, Saffron, Epic Games, as well as other startups.
Last year, Raleigh had fourth-highest concentration of technology job openings right behind San Francisco, Austin and Seattle.
As one part of the Research Triangle (an eight-county region which also comprises Durham and Chapel Hill) the region is attracting some of the top tech talent in the nation, partly because of its significantly lower cost of living
Behind San Jose, Austin has the highest concentration of tech sector employment.
Also a lower-cost tech hub, Austin is now home to Apple’s largest offices outside of Silicon Valley.
Millennials are drawn to the city for its active outdoor culture, thriving arts and music scene, and reasonable cost of living with no state or personal income tax.
- This chart compares tech's share of overall employment (in grey) to its overall economic impact (in blue) in each city.
- Tech creates direct economic value at an average rate of 1.7 times its share of overall employment.
- Outside of San Jose, these percentages might appear to be small.
- But their indirect impacts can be much larger…
-to explain why, we'll cover some basic facts about labor economics.
Jobs that produce goods and services that are sold outside the region – such as manufacturing – reside in the “Traded Sector”.
Traded Sector companies generate jobs not only through direct employment of their workers, they also create additional jobs indirectly within the local economy.
Their income is distributed to their workers, who spend the disposable portion of it in the local economy, thus creating additional jobs.
But something to bear in mind is that jobs in the Traded Sector can potentially be done anywhere. For example, many jobs in US auto assembly plants and textile factories have moved overseas.
Therefore, jobs can be lost as rapidly as they are created.
Berkeley economist Enrico Moretti calculates that each manufacturing job in the U.S. supports 1.6 jobs in the non-traded sector.
While each hi-tech job supports 5 jobs in the non-traded sector.
This is because hi-tech workers are highly educated in STEM fields and in high demand. So they command higher salaries that can buy more goods and services locally.
Moreover, of those 5 jobs tech generates, Moretti’s research reveals that two are highly-paid professional jobs, like lawyers and doctors, which in turn generate even more local jobs through their higher consumption.
So clearly, even less skilled workers benefit by the presence of a tech cluster, as increased consumption and demand for local jobs will raise wages across the board.
The remarkable thing about information technology is that there are almost no limitations on accessing outside markets. Think about the Apple’s App Store, for example. Once you have published your software there, you can instantly sell your product almost anywhere throughout the world.
- We've seen how desirable it is to have tech in your city.
- So now lets talk about the forces that cause tech employers to cluster in certain places.
- The cities that we've already mentioned suggest some answers…
Raleigh Durham’s Research Triangle Park is a rare example of a planned tech hub.
A forward thinking governor worked with developers to establish the non-profit Research Triangle Park between the campuses of Duke, UNC, and North Carolina State universities.
Austin was also elevated from a university town into a thriving tech hub.
In Dallas, Texas Instruments was a spinoff from GSI – a company that used seismic detection technology in oil exploration.
Early on, much of its business was with the US military. After TI’s Jack Kilby invented the first integrated circuit in 1958, the region became major player in semiconductors.
And you can’t overstate how much Seattle’s success as a major tech hub was down to luck.
Paul Allen and Bill Gates originally founded Microsoft in Albuquerque, New Mexico in 1975
When they decide to move their young company, pictured here, to Bellevue in 1979, Seattle was a quote "City of Despair" going through a period of industrial decline, not unlike what Detroit has experienced over the last couple decades.
So what forces drive technology to cluster in key cities?
And why doesn’t every city have a tech cluster?
In his book the New Geography of Jobs, Enrico Moretti’s research reveals there are three main forces…
The first ingredient is a “thick” labor market.
There must be a high concentration of highly-skilled workers well versed in specialized technologies needed in innovative fields.
Conversely, there must also be a high concentration of tech employers to attract job-seeking talent to that location.
Cities with higher proportions of tech workers also have more educated workforces.
Seattle, Raleigh, and Austin are among the ten best-educated major cities in the US.
Due to competition for talent, tech salaries are on average about twice as much as the local median wage.
Seattle’s tech workers get paid about $75K less than they would make in San Jose, but they are on average earning 2.13 times the local median wage – the highest multiplier of any of these cities.
This accounts for why we are seeing a significant influx workers from the Bay Area.
Secondly, running a growing tech company is a lot easier if you have access to resources – such IP lawyers, labs, or shipping services – that are tailored to an IT company’s needs.
But the most important resources are venture capitalists.
Not only do VCs specialize in investing in tech startups, they also provide managerial guidance and oversight.
In the Valley, VCs have a 20-minute rule. If they can’t get to your startup’s offices in 20 minutes or less, they’re not interested in backing you.
This map plotting the scale of VC investment across North America reveals that the Bay Area continues to dominate, accounting for over 35% of the total investments across the continent.
Boston and New York attract the major share on the East Coast.
- But if we look at VC investment per capita, we see that Austin and Raleigh are attracting a greater share of VC capital than other small cities.
The third force is the social factor of human interaction with other innovators.
Knowledge gets shared through informal encounters, whether they be in co-working spaces, presentations, or socializing.
These chance encounters are often what lead to new job opportunities, product concepts, spinoff ventures, or capital investments.
- All of these forces form a virtuous circle.
- The presence of tech companies attracts skilled workers.
- Workers exchange ideas and suppliers begin to congregate around these industries.
- The concentration leads to startup ventures and spinoffs, creating yet more tech companies.
- The presence of VCs provides funding for these startups which also attracts more young companies to the cluster.
The Madrona Venture Group and the Washington Technology Industry Association prepared this remarkably detailed chart, mapping the web of relationships between all of Seattle’s tech companies, large to small.
Its so detailed, that it’s impossible see the individual relationships at this scale on a projection screen (*click*), but you can detect that there are three major centers of gravity within this universe.
These are…
Microsoft, whose alumni have gone on to create 4,000 new business.
Notable spinoffs include Expedia, Real Networks, and Valve Software.
And its not just tech startups. There is obviously the Bill & Melinda Gates Foundation, but also, Vulcan – Paul Allen’s investment company.
Amazon hasn’t given rise to as many new ventures.
But one notable example is Blue Origin – Jeff Bezos’ space exploration company.
And the third generator is our alma mater, the University of Washington.
In 2015, the university’s incubator, CoMotion, launched 21 new startups.
UW is a top research institution, with a budget that's consistently one of the top 5 in the US and receives more federal research dollars than almost any other public university— over $1.3 billion in 2016.
This brings us to the fourth ingredient in the formation of a tech cluster – the presence of a large research institution.
Obvious examples include Stanford and Silicon Valley, as well as MIT and Harvard in Boston.
- Universities also produce startups, as students and faculty develop applications for their research discoveries.
- This chart tallies (in grey) the number of startup firms generated by the universities located near important tech hubs over the preceding six years.
- And in green we have the amount of capital they raised.
- Again, the Bay Area universities are clearly the leaders, but the other universities are not insignificant either.
- We think that rising costs associated with technology clusters are making them more competitive with one another for talent.
Zillow and LinkedIn recently published a joint study that combined their data on labor markets, wages, and housing costs across 30 metro markets to rank them according to which offers the best balance between job opportunity, income, and housing costs.
This map exhibits the cities’ relative attractiveness to tech workers who rent accommodation.
Their data reveals that tech workers in San Francisco (in the blue box on the lower right) have lots of job opportunities, but they get to keep only 36% of their income after paying rent and taxes.
Seattle and Austin (in green) offer similarly high job opportunities, but renters get to keep around 54% of their income.
Dallas (in orange), meanwhile, also offers a higher disposable income, but less employment opportunities.
And it’s a similar picture for home owners, with Austin slightly edging out Seattle, which is just below the median disposable income, because house prices are expensive here too.
This chart also comes to us from Zillow.
The vertical axis corresponds to each cities’ attractiveness to outsiders,
While the horizontal axis is the city’s attractiveness to current residents..
On the lower left we have cities where neither residents nor outsiders want to be. This is where Houston, Detroit, and Chicago are.
Three of our tech cities – San Francisco, Raleigh, and Dallas – are in the top left where residents want to leave, but outsiders wish to move into.
Finally, we get to Seattle and Portland on the top right. These are cities that few want to leave, but many people want to come to.
Costs inevitably rise as highly-paid tech workers concentrate in certain cities.
The Bay Area is also the most expensive hub for employers, who are paying twice as much in wages and rents as employers pay in Dallas.
So we see tech companies are expanding to where the workers are.
In Seattle, Facebook and Google established and expanded, respectively, their engineering offices last year.
Both recently signed leases on large new development projects in the urban South Lake Union submarket, which will bring their total floor area in the Puget Sound region to almost a million square feet each.
- So far, we've focused on the high-tech industry, however a high concentration in any one industry will increase risk to real estate investors.
- As we say in China, "don't put all of your eggs in one basket."
A location quotient is the ratio of the density of jobs in a particular industry in a region, compared to the national average. A number greater than one means that there is a higher concentration.
Pacific Coast Capital Partners generously provided us a data set that compiled the major metro LQs for key export industries.
We’ve already discussed tech in some detail.
In the Healthcare industry, the state of Tennessee has two cities – Memphis and Nashville – among the top three, thanks to the healthcare and medical device companies that are headquartered there.
In Biotech, Northern New Jersey leads because it is a hub for research and new pharmaceutical approvals, bolstered by a program of tax credits.
Topping the Finance clusters, Stamford, Connecticut has the largest percentage of college-educated workers and the highest salaries of any metro in the United States
Houston and Oklahoma City have extremely high location quotients in the energy sector because of the oil&gas industry. However, as the price of oil dropped sharply in 2014 those cities experienced a sharp downturn.
And finally, in defense, Orlando leads the pack. Central Florida has several large military contractors, as well as being the center for defense simulation, modeling and training.
(JC) To manage investment risk, we propose two diversification strategies. One is to diversify across cities with different industry concentrations.
In 1993, Glenn Mueller published a study in which he charted the risk-adjusted returns of three real estate portfolios that used different diversification strategies. We'll focus on two.
The solid line (highlighted in purple) is the efficient frontier of a portfolio diversified across the four NCREIF US Regional Subindeces – Midwest, South, East, and West.
The dotted line (highlighted in blue) is a diversification strategy across industry concentrations.
Mueller classified 316 US cities into one of nine industry categories, such as manufacturing, government, transportation, etc.
And he showed that this diversification strategy by industry concentration significantly outperformed the geographic one.
Back to the first list we showed of the fastest growing labor markets across the US, we note that all but one has high concentrations in at least one of these growth traded-sector industries.
So a second diversification strategy would be to simply select cities that are themselves diversified across a number of industries.
For example, Orlando stands out for its high concentrations of defense, but also biotech and tech.
Dallas is diversified with concentrations in energy, finance, and tech.
Seattle also has concentrations in defense, thanks to Boeing, and healthcare.
Salt Lake City has four concentrations!
But Austin is mainly a tech town.
We should point out that this is only a selection of six industries and not a all-inclusive analysis.
- Finally, we think Seattle can provide an instructive case study in diversification.
Since the Recession, employment in Seattle has been consistently increasing with year-on-year growth.
This expansion is now forecast to slow to 42,000 new jobs in 2017, as Seattle reaches full employment.
However, in the last year, we have seen Boeing start to contract in the face of price competition, but also because skilled workers are retiring, but the company isn’t replacing them.
A couple decades ago, these Boeing layoffs would have been disastrous indicator for Seattle’s economy…
In 1971, the Economist magazine described a "City of Despair" that had (quote) “become a vast pawnshop, with families selling anything they can do without to get money to buy food and pay the rent.” That city was Seattle.
It went on to say that more than 100,000 people were out of work – many of whom were scientists, engineers, and managers – driving unemployment perhaps as high as 26%. It was the worst example of economic decline in any sector since the great depression.
As the article explained, the root of the problem lay in the economic dominance of the area by one giant corporation, The Boeing Company.
When Boeing’s government and civilian contracts dried up workers were laid off and the whole region suffered.
The exodus of people seeking work elsewhere had reached such level that two local real estate brokers, with a black sense of humor, put up this billboard which has since become an iconic symbol of Seattle’s darker days.
But since then, the Puget Sound Region’s economy has diversified considerably since the 1970s. Its portfolio of industries includes…
Transportation: together the ports of Seattle and Tacoma are the nation’s third largest container gateway.
Technology: Seattle is second only to Silicon Valley as a tech hub.
Retail - Several global retailers were founded in Seattle, namely Starbucks and Costco
Financial – Russell Investments is headquartered here.
Life Sciences – Seattle is one the nation’s top-ten life science clusters.
Institutions – The University of Washington is one of the top research universities in the world. The Gates Foundation the largest charitable foundation by far.
But nonetheless, tech is clearly the dominant export industry. Perhaps the economy in Seattle is not as diversified afterall…
Since the financial crisis, the tech sector and, consequently, much of Seattle's labor force is fueled by Amazon’s exceptional growth.
But how long will it last?
What risks might disrupt the company’s growth? Perhaps anti-trust action, restriction on H1B visas, or a competitor that threatens Amazon's dominance in online retailing or cloud computing?
We don’t know, but a shock to Amazon would almost certainly be detrimental to Seattle’s real estate markets.
And looking back, tech has been a volatile industry.
It’s not our place to forecast the equities markets, but the main point here is that investing in markets with highly concentrated industries introduces risk that is idiosyncratically linked to the fortunes of those industries – be they tech, bioscience, or energy.