The U.S. commercial real estate market took something of a respite in 2016, during a year characterized by political volatility. Compared to the previous year, when the market fired on all cylinders, office players were more cautious in 2016, with leasing and sales activity cooling down to more sustainable levels, per most industry reports. Office tenants were reluctant to make any major moves pending the conclusion of the presidential election, thus lease renewals and consolidations took the stage in the past year. Though office sales activity also decreased 7% year-over-year, according to Colliers, the national transaction volume was still the fourth-highest yearly total in the past 15 years, reaching $140.5 billion. We enlisted the help of Yardi Matrix sales data to round up a list of the 50 largest office deals of 2016. The results of our analysis aren’t all that surprising: the New York City office investment market remains the most attractive destination for both local and offshore buyers, though other markets also landed a good deal of capital in the past year. The U.S. office market is poised to become even more attractive in the future, especially to foreign investors, if Brexit goes through. Check out the list of the top 50 largest office deals of 2016 on the CommercialCafe blog. NYC Home to Largest Single-Asset Sale of the Year The priciest office transaction in New York City and the second-largest overall office deal of the year was the $1.93 billion sale of the AXA Equitable Center at 787 Seventh Avenue in Manhattan. One of the biggest investments in pension fund CalPERS’ history, the sale closed Jan. 27, 2016, at $1,179 per square foot. The 51-story, 1.6 million-square-foot tower is LEED certified and includes 49,000 square feet of retail space, a parking garage and access to the underground concourse of Rockefeller Center. CalPERS bought the...

By now, you likely know that collaboration between marketing and sales is necessary to achieve and exceed growth goals.  What you might not know is that without that unified approach, companies can lose 10 percent of revenue each year. For most businesses, the challenge is figuring out how to make interdepartmental teamwork effective. Organizations must begin with an equal playing field, where sales and marketing both receive support from upper management. Currently, that is not the case in many organizations. The Association of National Advertisers (ANA) and Business Marketing Association surveyed 237 B2B marketers for greater insights on workplace conditions. Only 42 percent of marketing respondents are consistently included at the senior management table. An eye-opening 37 percent expressed that senior management offered a “strong endorsement” of their efforts. Marketing and sales share a symbiotic relationship. Once leadership acknowledges their interdependence, both departments can work together to bolster growth. Esther Bonardi, Senior Director of Strategic Marketing at Yardi, offers these insights into bringing sales and marketing into a blissful and productive union: Partnership drives growth. “The goal of marketing is ultimately to drive qualified leads that are ‘sales ready,’” begins Bonardi (pictured, right). “Accomplishing this requires a lot of communication between sales and marketing.  All too often, it can be hard for one group to gain the attention of the other in order to effectively work together on a strategic plan.  A lack of meaningful communication is the greatest obstacle to this success.” The key to purposeful communication is exchanging resources and insights, sharing the same objectives, and consistency. “It is important for sales leaders to put time on their calendars to plan and strategize with their marketing counterparts, and to keep these appointments as if they were appointments with a key client,” says Bonardi....

You’ve explored how to get renters through the door. Now that the prospects have arrived for a tour, don’t sabotage your sale with conversational faux pas! Check out these ten conversational dos and don’ts that will help fast forward the conversion cycle. 5 Convo Faux Pas That Will Kill Your Sales Assuming (Dis)likes “Our community has this great, retro feel that is really hip right now.” Maybe your clients aren’t hip and they certainly don’t “do” retro. You’ve just told them that the community isn’t right for them! Ask what your clients want and highlight those features in your community rather than making assumptions. Try: “You mentioned interest in mid-century architecture. Our units offer modern conveniences with plenty of mid-century charm.” Disrespecting the Competition “You’ve got to be blind to live in a place like Ivy Bluff. It’s so much more outdated than our property.” Humor is a tricky beast. If you don’t read a prospect’s humor right, your dismissive statement or joke about another property can seem unprofessional, arrogant, and make you look childish. Stick to being a cheerleader for your own property and you’ll be too busy to offend a client. Try: “These units were renovated last month.” Making Excuses “We haven’t replaced these carpets yet but our maintenance techs are so busy. You know how it is.” Rather than pointing out your property’s flaws and then excusing them, explain the plans to correct the problems. Try: “I apologize for the appearance of the carpet. It is scheduled for replacement this Saturday.” Conveying Wishful Thinking Like It’s The Truth “All three of you want adjoining units in our low vacancy community? I’m sure we can work that out.” Are you sure? If variables keep you from knowing a definite outcome, assure the...