Where We Work: What`s Next Is Here

Transcription

corporate
real estate
& Workplace
volume 7 , issue 5
septem ber / oc t ob er
08
Where We Work: What’s Next Is Here
page
14
Inside:
Designing for a New Kind of Work Environment
page
34
Conservation and the Bottom Line: Reducing
Costs and Improving Your Corporate Image
page
38
s pec ia l
fe at ur e
The Florida Report:
Sunshine State Moves to the Forefront in
R&D, Life Sciences & International Trade
B y B a i l e y W e bb
F l o r id a ’ s l o ng s in c e s h e d t h e i m a g e a s p r i m a r i l y a h a v e n f o r t o u r i s t s , r e t i r e e s a nd c i t r u s
producers, not that those segments aren’t still vital cogs to the state’s economy. Each
y e a r , t h e S u n s h in e S t a t e p l a y s a n in c r e a s ing l y c r i t i c a l r o l e in h ig h t e c h , a e r o s p a c e a nd
aviation, logistics and finance, expanding ties both nationally and internationally as trade
b a r r i e r s d r o p a nd t r a v e l e r s a nd in t e r n a t i o n a l f i r m s t a k e a d v a n t a g e o f t h e i r c u r r e n c y ’ s
strength against the dollar.
I
n fact, Florida ranked third
among U.S. states in high-tech
exports in 2007, with $13.3
billion, about one-third of
the state’s total, according to
state economic development institution Enterprise Florida. It ranked fourth
nationwide in high-tech employment
and added more high-tech firms in 2005
and 2006 than any other state outside
of California.
In targeted sectors such as aviation
and aerospace, defense and homeland
security, finance and life and bio sciences, the state eclipsed its goal of
18,000 new jobs through the fiscal
year ending 30 May, adding 18,659
new jobs in its targeted sectors.
Among many big wins, software firm
Channel Intelligence chose to expand
in Kissimmee in Osceola County, adding approximately 500 employees with
an average salary 200 percent higher
than the county’s average and an overall capital investment of $33 million.
For the aviation industry, Brazilian jet
maker Embraer is making a $50 million
investment in a Melbourne manufacturing facility, while Piper is in the
midst of a $40 million expansion in
nearby Indian River County.
Overall, Florida companies set a
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september / october
record for capital investment over the
same period, achieving nearly $2.3 billion in capital investment over the previous year’s approximately $2 billion,
with an even split between new and
existing industries, said Bob Rohrlack,
senior vice president of Enterprise
Florida. At the same time, the state
reduced expenditures on incentives.
“That’s a huge positive statement
about Florida’s economy and its ability
to retain and expand,” Rohrlack said.
“That was a big success for us, especially with what’s going on with the
economy. We’re proving that this is a
strategic location for business.”
South Florida’s economy is a
microcosm of the state’s, with its
expanding international
trade
ties and emerging – and in many
cases established – high-tech and
biosciences nodes.
Through the prism of the space
program and NASA, metro
Orlando
and the Space Coast are
one of the U.S.’s original high-tech
hubs, inspiring global fascination
and awe.
T h e F l o r id a Repor t: Su nsh ine Sta te Move s to the Fo refront in R&D, Life Science s and I nterna t i o n al T rad e
Down South
South Florida’s economy is a microcosm
of the state’s, with its expanding international trade ties and emerging – and
in many cases established – high-tech
and biosciences nodes. IBM put South
Florida on the high-tech map in the
late 1970s, with its ground-breaking
research in developing the first PC in
Boca Raton. Motorola followed later in
Broward County, while Centrix established its headquarters in Miami in the
late 1990s. Now the area also hosts or
has under development a thriving medical research and life sciences community, including Scripps Florida in Jupiter
in Palm Beach County and The Max
Planck Society’s first U.S. research center, also in Palm Beach County.
Florida Atlantic University (FAU) in
Jupiter is both a beneficiary and cata-
lyst for Scripps Florida and the Planck
Institute. Scripps employees have been
working at FAU for two years while the
non-profit biomedical research center’s
main campus is built. A division of
La Jolla, Calif.-based Scripps Research
Institute, Scripps plans to open its new
350,000-sq.-ft. (32,516-sq.-m.), $157.9
million research campus in early 2009
and ultimately will employ more than
500 people.
Also at FAU, the Max Planck Florida
Institute’s biomedical research facility won’t be fully up and running for
three years, but it is expected to lead
to approximately 1,800 new jobs over
20 years and billions of dollars in economic and scientific development. FAU
also will host Planck researchers as the
organization’s 100,000-sq.-ft. (9,290sq.-m.) research facilities are developed.
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september / october
Collaboration between the Scripps and
Planck institutes is expected to yield a
wealth of medical advances.
“It’s an evolutionary step in the kinds of
jobs coming to the state,” Rohrlack said.
Much like its South Florida neighbors,
Miami-Dade County is no longer merely
a tourist mecca and also is undergoing
a life science and technology renaissance. On its own, Miami-Dade County
is home to approximately 1,500 life
sciences firms that employ more than
17,000 people and generate more than
$2.3 billion in annual revenue, according to The Beacon Council, MiamiDade’s economic development public/
private partnership.
In the past 12 months, Miami-Dade
has attracted a $20 million, 90,000-sq.ft. (8,361-sq.-m.) biosciences manufacturing facility where Franklin Lakes,
N.J.-based BD (Becton, Dickinson and
Co.) will produce cell culture media
supplements used in the production of
vaccines and biopharmaceuticals. BD
will redevelop IVAX Pharmaceuticals’
former North Miami property and is
expected to create 75 new jobs over the
next eight years. Kenilworth, N.J.-based
Schering-Plough has announced plans to
expand in Dade County, as well.
“Over the past 20 years, Miami-Dade
County has been moving from an economy based in service and manufacturing
jobs to a knowledge-based economy,”
said Frank Nero, CEO of The Beacon
Council. “As we evolve in the direction
of a global knowledge-based economy,
Miami-Dade’s efforts to diversify and
strengthen the economy are anchored
by both the ability to train a knowledgebased workforce, capable of supplying
the demands of and sustaining high-tech
and advanced industries. In tandem with
our targeted industries is an effort with
local partners and government to build
the knowledge-based workforce needed
Billion dollar companies
are growing here.
Join them.
Growth Power.
People Power.
Location Power.
Greater Fort Lauderdale/Broward
County is a base for a wide range
of companies including AutoNation,
Citrix Systems, DHL Americas,
Microsoft Latin America, and Spherion.
We have an entrepreneurial
environment proven to fuel business
growth from start-up all the way to
industry leader.
Our large, multi-lingual, well-educated
labor pool provides a renewable source
of talent. More than one-third of the
workforce is employed in managerial,
professional and technical positions.
A steady stream of highly qualified
workers come equipped with technical,
master’s, and Ph.D. degrees from the
area’s many colleges and universities.
Enjoy fast and convenient connections
to world markets. Companies here
have strong international access to
the Americas and the Caribbean
through Fort Lauderdale-Hollywood
International Airport (one of the
fastest growing airports in the nation)
and Port Everglades (among the
nation’s top seaports).
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w w w . b r o w a r d al li a n ce . o r g
to fill the potential positions these
industries offer.
“The contribution of these industries
to economic growth and development
is essential now and in the future,
as Miami-Dade competes with other
knowledge-based economies throughout the U.S., Europe, Asia and Latin
America,” Nero said. Miami’s central
location also positions it as a financial
and headquarters center for international firms seeking a foothold in Latin
America and Latin American firms seeking a U.S. home and better connections
to Europe and even Asia.
For example, South Korea’s MOBIS
Parts America, a Hyundai subsidiary and
auto parts distributor, chose to retain
and expand its Latin American headquarters in Miami after evaluating other
options near Washington, D.C., and
Panama City, Panama. MOBIS has been
in Miami since 2004, and its expansion includes development of a new
400,000-sq.-ft. (37,161-sq.-m.) facility at
Beacon Lakes Business Park.
“Many of the companies we target and
work with view Miami-Dade County as
an ideal location for accessing the Latin
American and Caribbean markets,”
Nero said. “In the past few years, however, more and more European companies – as well as Asian companies – use
Miami-Dade County to access both the
North American and Latin American
markets. This allows these companies
to take advantage of multiple markets
and hedge against any downturns in
either region.
“We also see Latin American companies use Miami as a jump off point to
enter the United States,” Nero continued.
Immediately to the north of Dade
County, Broward County is weathering
the storm of layoffs at Motorola, which
bases its Latin American headquarters
in Plantation, and added companies such
as Research In Motion (RIM), which
makes BlackBerry phones and wireless
e-mail devices; General Dynamics’ C-4
Systems, which makes communications
systems for the Department of Defense;
and mobile phone manufacturer
FoxConn International Holdings.
RIM, FoxConn and C-4 are expected
to add 600 new jobs to Broward County,
which more than offsets Motorola’s
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september / october
recently announced plans. It also proves
the worth of one of the county and
Broward Alliance’s initiatives, creating
a cluster of advanced communications
and R&D enterprises.
“These companies realized that
employees from Motorola would be a
perfect fit,” said Kathy Koch, the chairman of the Broward Alliance and the
president of Ambit Advertising and
Public Relations in Ft. Lauderdale.
The Broward Alliance is making a big
push to draw headquarters and regional
headquarters to the county and has
also attracted Kemet Co., a $1 billion
electronics firm, and approximately 150
new jobs with Propulsion Technology
International LLC’s relocation to
124,280 at Atlanta-based developer IDI’s
Miramar Centre Business Park.
In Koch’s 20 years in South Florida,
she notes that the type of industries
attracted to the area has changed, but
so, too, have municipalities’ downtowns, with more commercial and
residential development, as well as the
region’s international appeal.
“That changes everything in terms of
culture and the workforce and opportunities,” Koch said.
According to local media reports,
Duke Realty Corp.’s South Florida properties have attracted General Dynamics
to 1000 Sawgrass Corporate Parkway in
Plantation and Research In Motion to
60,000-sq.-ft. (5,574-sq.-m.) at Sawgrass
Park of Commerce, which accounts
for two-thirds of an approximately
90,000-sq.-ft. (8,361-sq.-m.) office building scheduled to deliver in the third
quarter of this year.
Duke Senior Vice President Ed
Mitchell said Broward’s had a great
recent run, but current economic conditions make it tough to divine where the
office market and real estate in general
is headed – 50,000- and 100,000-sq.-ft.
(4,645 and 9,290-sq.-m.) deals are no
longer falling from the sky, he said.
“We’re at equilibrium, but what we
don’t have right now is a lot of momen-
tum, which we’ve had in the past,”
Mitchell said.
Mitchell attributes part of the slowdown to the overall economy’s creditcrisis hangover, woes in the residential
market and higher energy prices, but he
also points out that continuous negative
news leads to a dour disposition, even
as Broward and South Florida restaurant
and mall parking lots remain packed.
Besides, in his 20 years in South Florida
commercial real estate, he’s seen the
market bounce back plenty of times as
the area’s quality of life and increasing
economic diversity continues to attract
and retain companies from around the
U.S. and around the world. It’s nothing a
morning on the golf course and an afternoon at the beach with the family can’t
fix, especially when your friends and
family in other parts of the country are
enduring winter.
“You’re always on vacation here,”
Mitchell said.
On the other side of the peninsula,
Florida’s Southwest Coast is continuing the evolution, as well. A number of
high-tech and life sciences firms call Lee
County and the Southwest Gulf Coast
home, including Tigris Pharmaceuticals,
which produces anti-cancer drugs and
performs cancer research, in Bonita
Springs; international electronics firm
Fox Electronics in Fort Myers; and Coral
Springs-based Ecological Laboratories
Inc., which produces algae-eating
microbes used to purify water from koi
ponds to wastewater treatment plants.
“People don’t necessarily realize
some of the success stories here,”
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85
september / october
said Jennifer Berg of the Lee County
Economic Development Council.
Lee County and the Horizon Council
work with neighboring Charlotte and
Collier counties on regional initiatives
to continue to draw IT and bio companies to the area, touting the area’s low
business-cost structure and quality of
life, not to mention its workforce and
demographics – Lee County’s population
age 18 to 22 is growing faster than the
national and state average.
The county also offers a full tally of
available commercial properties through
its economic development web site
and will soon add a big player with the
development of the Madden Research
Loop near the Southwest Florida
International Airport.
A subsidiary of Denver-based John
Madden Co. is developing Madden
Research Loop on the airport’s nonaviation land and plans to break ground
on the first phase by the end of the
year. Phase one includes 275,000 sq. ft.
(25,548 sq. m.) of Class-A office and lab
space and a three-story parking garage
on 25 acres (10 hectares). John Madden
Co. has developed similar facilities in
Denver and across the U.S., and is seeking Gold certification from the U.S.
Green Building Council’s Leadership
in Energy and Environmental Design
(LEED) program for the first phase of
Madden Research Loop, which will
also include public art, park space and
a 5-acre (2-hectare) lake. While no preleases had been divulged as of press
time, the developer’s target tenants
range from small R&D firms to global
conglomerates.
“The main thing here is to create an
attractive business environment for
companies in the scientific realm,” said
Steve Brown Jr., vice president for project development at John Madden Co.
A public/private partnership is a key
component of the new research/office
park. John Madden Co. has a 65-year
groundlease for the property through
the Lee County Port Authority, whose
long-term goal is to develop the 750acre (304-hectare) Skyplex Commercial
Center on the north side of the airport.
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The long-term groundlease is the first
such transaction for John Madden Co.,
and it allows the firm to approach the
project as a public/private partnership
and build a less-dense development than
land costs would otherwise allow. The
transaction’s structure also lets John
Madden Co. take down land as needed,
freeing capital while reducing risk for
the company, which ultimately plans to
develop a 160-acre (65-hectare) office/
lab park at Skyplex.
“To make a project successful, it’s
important to have a lot of stakeholders,”
Brown said. “The long-term vision that
the county shares with us allows us to
keep it uniform and meet higher standards. If you want to do this project correctly, the big winner is the county.”
Not Just Fun and Games
Through the prism of the space program
and NASA, metro Orlando and the Space
Coast are one of the U.S.’s original hightech hubs, inspiring global fascination
and awe. Of course, the same can be said
for Walt Disney World, Sea World and a
number of attractions in Central Florida,
which draws about 50 million leisure visitors annually. Those factors continue to
drive economic development in Central
Florida, but they’re no longer the only
game in town.
Still, you can’t overestimate NASA’s
impact. Directly or indirectly, NASA
and the Space Coast’s needs led to the
creation of the University of Central
Florida (UCF) and helped establish
metro Orlando as a global center for
the manufacturing and design of optics
and photonics as well as an innovation center for modeling, simulation
and training for both commercial and
Department of Defense high-tech
applications. Optics and photonics
are a $13.4 billion industry for metro
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september / october
Orlando, while nearly every weapon in
the U.S. arsenal was modeled and simulated in Orlando.
“This is part of the Orlando story that
rarely gets told,” said Declan Reiley,
vice president of the Metro Orlando
Economic Development Commission,
which works with Orange, Lake,
Osceola and Seminole counties.
For its part, UCF may have initially
supported the Space Coast, but in 40
years it has grown into the seventh largest university in the U.S. with 49,000
students, many of them drawn to the
university by the region’s job opportunities. Of course, UCF offers traditional
degree programs, but it also includes
the Florida Interactive Entertainment
Academy, which trains students for
careers in modeling, simulation, and
video game programming and development and has a 96 percent job placement rate for graduates.
Florida Interactive Entertainment
Academy supplies talent for gaming
industry giants like EA Sports, which
develops sports titles like FIFA, Madden
NFL pro football and college-sports
games in Orlando, as well as NSpace,
which converts games to different platforms – Xbox, Wii, PlayStation, etc.
It’s not just fun and (highly lucrative)
games, though. The interactive degree
program also supplies local operations
of defense and aerospace firms like
Northrop Grumman and Lockheed.
UCF, like Florida Atlantic University,
the University of Miami, the University
of Florida and institutions across the
state, plays a major role in economic
development, Enterprise Florida’s
Rohrlack said.
“That’s an incredible tool, for the
higher education community to make
that commitment to economic development,” Rohrlack said. “They’re marketing who they are and the state.”
As the leisure and video-game industries continually re-invent themselves,
metro Orlando’s growth presents some
opportunities for downtown revitalization as well.
The City of Orlando is working with
private developers on revitalizing the
city’s central business district, redeveloping the Church Street Station
with new shops, restaurants and clubs,
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condos and grocery-anchored retail.
Meanwhile, Orlando is funding an
approximately $1 billion investment in
renovating the Florida Citrus Bowl and
developing a new performing arts center and a new arena for the National
Basketball Association’s Orlando
Magic, which will link Orlando’s east
and west sides.
East of Orlando International Airport,
U.K.-based Tavistock Group, whose U.S.
headquarters is in suburban Orlando, is
the master planner behind Lake Nona,
a 7,000-acre (2,833-hectare) community
with an enormous emphasis on medical research and services through its
Medical City at Lake Nona. A $2 billion
investment, Medical City at Lake Nona
will be the home of UCF’s Medical
School and the Burnham Institute for
Medical Research, which has a research
alliance with the University of Florida.
Medical City also will include a new
Veterans Affairs Medical Center to
serve Central Florida’s approximately
90,000 veterans, as well as a Nemours
children’s hospital and pediatric medical
research center.
“We feel confident that there will
ultimately be a major commercial hospital associated with Medical City,”
Reiley said.
With the area’s anticipated and realized growth, metro Orlando and the
state also have a number of transportation initiatives to relieve traffic congestion. The Florida Department of
Transportation is nearing completion
of Orlando’s western beltline, Highway
429, and the Florida legislature has
approved funding for a 61-mile commuter rail linking Volusia, Seminole,
Orange and Osceola counties. The legislature is working through the process
with CSX, which owns the existing
tracks, but the commuter line could be
running by 2010, Reiley said. When the
commuter line is unveiled, it will equal
one additional lane during rush-hour
traffic on Interstate 4, Central Florida’s
east-west connector.
“That gives you a tactile sense of the
relief it will provide, and there are also
ongoing road improvements,” Reiley said.
From China to Winter Haven and
beyond
The area’s business and population
growth also has led to a dynamic logistics market, with inland counties such
as Lake and Polk attracting big-box
development as prices for developable industrial land closer to Orlando
and Tampa continue to climb. Polk
County’s industrial market has grown
to nearly 30 million sq. ft. (2.8 million
sq. m.) and has absorbed nearly 3 million sq. ft. (278,709 sq. m.) in the past
two years, drawing big-box tenants
such as hhgregg, Kuehne+Nagel, Pepsi
Bottling and Publix Supermarkets. The
demand has drawn developers such as
Indianapolis-based Duke, San Franciscobased AMB Property Trust, Chicagobased First Industrial Realty Trust and
Atlanta-based Robert Pattillo Properties.
In Lake County north of Orlando, IDI
is developing Lakeview Distribution
Center, a 48-acre (19-hectare) park that
can support more than 1.4 million sq.
ft. (130,064 sq. m.) of industrial development, including two 717,040-sq.-ft.
(66,615-sq.-m.) cross-dock distribution
centers. IDI also plans to seek LEED certification for the properties.
“There are very few sites in Central
Florida that can accommodate buildings
of this size,” said Larry Dinner, vice
president of leasing for IDI in Florida.
“As the geographic center of the state,
Orlando provides a great opportunity
to serve distributors that want convenient access to markets across Florida.
Distributors can reach 8 million consumers within 150 miles, and 15 million
people within 220 miles.”
Further north, growth of the
Jacksonville Port is driving a development frenzy in Duval County. Mitsui
OSK Lines Ltd. recently began receiving
freight at its new, $220 million terminal at Blount Island. The Jacksonville
Port Authority (JAXPORT) has agreed
to purchase about four acres (1.6 hectares) nearby at Dames Point for a Hanjin
Shipping terminal where, like Mitsui,
Hanjin would sign a long-term lease
for the property and build it out. In
a decade, the two new terminals are
expected to triple the amount of cargo
handled at JAXPORT, which totaled
8.3 million tons in fiscal 2007, and
add 5,800 new jobs. Consequently,
Jacksonville’s industrial market has
added approximately 5 million sq. ft.
(464,515 sq. m.) in the past three years
for a total of 88 million sq. ft. (8.2 million sq. m.). More is on the way as users
seek to take advantage of JAXPORT’s
access to Latin America; I-10, I-75 and
I-95; and Florida East Coast, Norfolk
Southern and CSX railroads.
“(The market’s) on fire,” said Hobart
Joost Jr., a senior vice president of
Colliers Dickinson in Jacksonville with
32 years of experience in North Florida
commercial real estate. “They’re creating a huge ripple in the development
community. It’s turned this town upside
down, with developers coming to town
and building cross-dock facilities.”
Among the new developers, Dallasbased Jackson-Shaw Co. acquired
Jacksonville Trade Port, which includes
a nearly full 995,000-sq.-ft. (92,438-sq.m.) distribution center and 85 available acres (34 hectares). Additionally,
Atlanta-based Oakmont Industrial
Group has acquired 75 acres (30 hectares) for NorthPoint Logistics Center
near the Mitsui terminal and plans to
break ground in the third quarter on an
850,000-sq.-ft. (78,968-sq.-m.) distribution center. Oakmont also is seeking
LEED certification for the core and
shell of the building, which is slated to
deliver next summer.
“We can draw on our experience
at other port markets, and we like
JAXPORT’s commitment to grow its
container volume and the significant
private investment being made by international shippers,” said Oakmont’s
Todd Parker. “We continue to see
increased demand for East Coast ports
in general as they continue to win market share from West Coast ports.”

Where We Work: What`s Next Is Here

Transcription

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