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2012 Issue 1 Technology Cloud Computing 101 Streamlining the Leasing Process Architecture Designing for Millennials Real Estate IQ The Over-Leveraged Landlord Outside the Office The Warm-Up Photo © Peter Aaron/Esto Helping real estate clients see opportunity around the next corner. Greenberg Traurig offers clients a global team of 200+ real estate attorneys with more than four decades of experience delivering legal strategies and services for property investment, development, management, operations, finance and related litigation. We are proud to work with our friends at KBS and other participants in the real estate industry, both here in Orange County and around the world. 2011 REAL ESTATE PRACTICE GROUP OF THE YEAR, LAW360 2011 USA AWARD FOR REAL ESTATE AND ENVIRONMENT, INTERNATIONAL LEGAL ALLIANCE SUMMIT 2011 REAL ESTATE LAW FIRM OF THE YEAR – NORTH AMERICA, LAWYERS WORLD LAW AWARDS 2010 AWARD FOR EXCELLENCE IN REAL ESTATE, CHAMBERS AND PARTNERS L. Bruce Fischer fi[email protected] | 949.732.6670 1800 Attorneys | 33 Locations° | www.gtlaw.com ALBANY | AMSTERDAM | ATLANTA | AUSTIN | BOSTON | CHICAGO | DALLAS | DELAWARE | DENVER | FORT LAUDERDALE | HOUSTON | LAS VEGAS LONDON* | LOS ANGELES | MEXICO CITY+ | MIAMI | NEW JERSEY | NEW YORK | ORANGE COUNTY | ORLANDO | PALM BEACH COUNTY | PHILADELPHIA PHOENIX | SACRAMENTO | SAN FRANCISCO | SHANGHAI | SILICON VALLEY | TALLAHASSEE | TAMPA | TYSONS CORNER | WASHINGTON, D.C. | WHITE PLAINS The hiring of a lawyer is an important decision and should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and our experience. Prior results do not guarantee a similar outcome. Greenberg Traurig is a service mark and trade name of Greenberg Traurig, LLP and Greenberg Traurig, P.A. ©2012 Greenberg Traurig, LLP. Attorneys at Law. All rights reserved. °These numbers are subject to fluctuation. *Operates as Greenberg Traurig Maher LLP. +Operates as Greenberg Traurig, S.C. Images in this advertisement do not depict Greenberg Traurig attorneys, clients, staff or facilities. 13837 A LETTER from the CEO KBS is very excited to launch our first issue of Premier Office Magazine, a publication geared toward commercial real estate brokers and commercial property tenants across the nation. I want to warmly thank all of our advertisers who helped make this first issue a reality. It does not seem like that many years ago when I got my start in the commercial property business as a licensed real estate broker. I am intimately familiar with the ups and downs that brokers face and how critical it is to earn and keep the respect of potential clients. Commercial brokers today are keenly aware of how important it is to not only recommend the right building for their client, but also to recommend the right landlord. Delinquent loans on commercial real estate are the highest they have been in years. These statistics do not bode well for tenants who leased space five years ago anticipating their landlord would be there to meet their needs and maintain their properties. Presently, many of those landlords are simply out of money, and as a result, the properties (and the tenants) suffer. The market is changing, as it always does. Two years ago, I would have called it a tenants’ market, and it certainly still is in some areas. In our nation’s premier markets, however, there has been a flight to quality during the last few years. What was an abundance of opportunities has now dimin- ished, as tenants clamor for the best properties. Further fueling this dynamic is a realization that new supply production is challenging on many fronts. How are we as a buyer participating in this market? We are very careful to buy only top properties in top-tier markets. When a strategy warrants it, we also will take a well-located, but under-performing asset and elevate that property so that it does not compete on a commodity basis. A great case study is our enhancement of the iconic Providence Towers property in Dallas, Texas. (See story on page 20.) There are many exciting topics explored in this issue of Premier Office Magazine. Be sure to also see our “Outside the Office” column written by our friend and PGA star, Bobby Lasken. Bobby has coached some of the nation’s top pros and has been a tremendous help to my game — as you will see from his story, it’s all about preparation. God Bless America! Charles J. Schreiber, Jr. Chief Executive Officer KBS Realty Advisors / KBS Capital Advisors PREMIER OFFICE MAGAZINE 1 ADVERTISERS INDEX GreenbergTraurig ......................................................................Inside Front Cover DLA Piper .............................................................................................................9 Mayer Brown ......................................................................................................13 Idea Hall .............................................................................................................15 The Values Institute at DGWB.............................................................................29 Burnham Benefits...............................................................................................31 Little Diversified Architectural Consulting.............................................................31 Slater Builders ....................................................................................................32 Environ......................................................................................Inside Back Cover RR Donnelley Financial Services ..........................................................Back Cover PREMIER OFFICE MAGAZINE™ 2012, Issue 1 © 2012, KBS Realty Advisors Charles J. Schreiber Jr., Chief Executive Officer Phillip Diment, Editor Ryan Butala, Senior Graphic Designer / Art Direction Jessica Slater, Communications Assistant / Copy Editor Miguel Barrios, Graphic Designer EDITORIAL ADVISORY BOARD Ken Robertson, KBS Realty Advisors Jim Chiboucas, KBS Realty Advisors Rodney Richerson, KBS Realty Advisors Charles Lindwall, KBS Realty Advisors Rebecca Hall, Idea Hall Ryan Compton, DLA Piper Robert Ochsner, DGWB Advertising & Communications Steve Van Amburgh, KDC Real Estate Development Aran Jackson, Innovative Publishing Dennis Towle, RR Donnelley Financial Loriann Duffy, Hines Ken McKay, KBS Realty Advisors Brent Carroll, KBS Realty Advisors Robin Burke, KBS Realty Advisors Premier Office Magazine is published by KBS Realty Advisors 620 Newport Center Drive, Suite 1300, Newport Beach, CA 92660 www.kbsrealty.com 2 TABLE of CONTENTS 4 Newswire 6 Recent KBS Acquisitions Technology 8 Cloud Computing 101 10 Streamlining the Leasing Process Real Estate IQ 14 The Relationship Business Tenant Profile 16 The Regus Group KBS Feature Property Map 18 World Class Service ... Wherever You Are Case Study 20 Re-imaging a Signature Dallas Office Property Tenant Profile 22 Kirkland & Ellis LLP Designing for Millennials 24 Generational Distinctions Important in Space Planning Modern Office 26 New Conference Room Tools and Trends Real Estate IQ Cover Image: 300 North LaSalle, Chicago 28 The Over-Leveraged Landlord Premier Office Magazine is printed with soy-based inks. 10 Tips from a World Class 29 Lobby Ambassador Real Estate IQ 30 The Perfect Suite Outside the Office 33 The Warm-Up PREMIER OFFICE MAGAZINE 3 NEWSWIRE KBS SIGNS 32,000 SF AT WOODFIELD IN CHICAGO KBS has finalized two lease agreements with Hitachi High Technologies and Nippon Life Insurance for 32,207 square feet at its Woodfield Preserve Office Center complex in Schaumburg, Ill., 30 miles northwest of downtown Chicago. The Class A property provides an excellent location with a variety of desirable amenities on site and in the immediate area. KBS’ office property, Park Avenue at Morris County, hosted an exciting cooking event to benefit Community FoodBank of New Jersey. Guests included star chefs James Laird and Park Avenue’s own, Kate Orlando. WHIPPING UP SUPPORT FOR FOODBANK OF NEW JERSEY KBS Realty Advisors’ Park Avenue at Morris County raised $2,000 for the Community FoodBank of New Jersey TEXAS HOLD ‘EM! through a “Star Chef Cook Off.” The KBS’ Senior Vice President, Ken contest pitted Park Avenue’s own chef Robertson, hosted a dozen of Dallas’ top Kate Orlando (of corporate food service commercial real estate professionals at provider, Dartcor) against award-winning Ocean Prime restaurant for a five-star chef James Laird, who owns Restaurant dinner and a night of poker. KBS’ Dallas Serenade in Chatham. More than 50 office portfolio was on display as tenants attended the competition, and brokers from CBRE, CRESA, Jones enjoyed delicious lunch entrées. Park Lang LaSalle, Newmark Knight Frank, Avenue encompasses six trophy office Cushman & Wakefield, Robert Lynn, buildings totaling over 1.1 million square Lincoln Property Company and Colliers feet and is located in Florham Park, N.J. were in attendance. 300 NORTH LASALLE WINS ULI 2011 AWARD FOR EXCELLENCE One of the nation’s premier office properties, 300 North LaSalle in Chicago, has earned the Urban Land RENOVATIONS UNDERWAY KBS RENEWS CAREMARK Institute (ULI) 2011 Award for Excel- AT TYSONS DULLES ON 149,856 SF LEASE lence in the Commercial category, Renovations at Tysons Dulles Plaza in KBS has renewed a 149,856 square-foot joining an elite