Duke Long interviews Marc Betesh, President and CEO of Visual Lease, about upcoming FASB changes at Corenet’s Chicago conference.

Click here to view the video on YouTube.

During the CoreNet Summit, Chris Werely spoke with Duke Long about how Visual Lease makes it easy to manage leases on the iPad.  Duke is a popular commercial real estate blogger.  Please check out the video and visit www.dukelong.com.

Click here to view the video on YouTube.

The Chicago Summit has kicked off with a great turnout, learning opportunities and networking.  Marc Betesh and Chris Werely sat down with Duke Long today to talk real estate technology and the upcoming lease accounting changes.

Check in at www.dukelong.com for the full video.

Marc Betesh and Chris Werely are headed to Chicago this weekend for the CoreNet Global Summit. If you are headed to the summit, say hello. If not, stay tuned to the Visual Lease blog for daily updates on the topics of conversation, speakers and other real estate buzz. We are very interested to learn how end users are preparing for the FASB’s changes to lease accounting.

We are expecting to see more people using iPad’s and contributing to the social media updates coming out of CoreNet. We will definitey be showing off Visual Lease on the iPad!

April’s edition of CoreNet’s magazine, The Leader, is out, featuring an article about recent technology trends by Ernst & Young’s Real Estate Advisory practice. In the article, E&Y artfully describes different strategies for technology, data management, and support – especially in light of the continuing trend of outsourcing key CRE services.

Additionally, E&Y predicts the comeback of “Best of Breed” solutions.  Best of breed solutions are generally point (standalone) systems that perform one function very well.

“With data essentially becoming portable, applications can be more closely tailored to the specific processes employed by the CRE organization.  They can reside virtually anywhere and be supplied by a far greater number of providers.  For this reason, rather than deploying a one-size-fits-all package application, where the maturity of individual modules may be highly variable, CRE organizations can more cost-effectively deploy “best of breed” application strategies”.

The article also notes the increasing demand for access to data from smart phones, iPads and laptops:

“Rather than having a single do-it-all device, many of us carry around multiple devices such as smart phones, iPads and laptops.  The expectation is to be able to access data from each and every device, anywhere, anytime”.

To read the entire article on CoreNet’s website, click here.

We are very excited about this forecast due to our “Best of Breed” approach to developing lease management software.  Visual Lease also works on the iPad, iPhone and Android devices, giving real estate professionals access to lease data anywhere, anytime.

by: Chris Werely

The first day of CoreNet flew by in Phoenix.  It has been a great day of networking and learning.  Richard Florida opened the summit by providing his academic perspective on the future of our creative economy and necessity to create spaces and places to promote innovation.  While Florida provided an interesting perspective he failed to motivate the large crowd of real estate executives.

I attended the Technology breakout session, Who is Managing Your Corporate Real Estate Software?  Risk & Opportunity.  It was interesting to learn about the decision making processes from major organizations like AT&T  and Nokia Siemens Networks.  I found it particularly surprising how disparate their real estate software systems are and the challenges they face managing them.  Because of their size and complexity, a large amount of support is needed by IT, often not with the same amount of priority as real estate.  The most surprising example of this internal struggle was how long it took AT&T to aggregate data for an executive dashboard – over 1 year and half a million dollars!  This is hard to imagine in 2010.  AT&T is still running 10+ real estate software systems, both customer and vendor provided.  Nokia Siemens has recently rolled out an IWMS after a multiple year evaluation and implementation.

The take away for me was the large companies are still looking for great products to fit their unique requirements and not neccessarily at one size fits all system.

In the afternoon Visual Lease’s President and CEO, Marc Betesh spoke to a packed room on the changing BOMA standards.  The dynamic between Marc and Michael Meyer was excellent and they were able to make a fairly dry topic come to life.  They both drove home the fact that tenants, as the customer, should demand that the landlord measure space to thier specifications so that they can do an apples to apples comparison for different spaces.  The BOMA 2010 revisions are long and complex, but they do provide a more standardized and fair way for allocating building and floor common area costs, which should be to the tenants benefit.

The social media scene has been very active.  For the latest updates via twitter check out:

@VisualLease
@LeaseAudit
@JLLNews
@LeslieGall
@CWSGroup

Stay tuned for updates from Tuesday’s FASB working breakfast, the mega sessions and the IWMS developments moderated by CRESA’s Scott Bumpas.

Marc Betesh and Chris Werely are in Phoenix and will be blogging and tweeting live from the CoreNet Global Summit.  We are here to see what is new in real estate technology, lease administration software, and what people are thinking about the upcoming FASB accounting changes.

It will be interesting to see how social media has progressed at the summit.  Jones Langt LaSalle has a dedicated Social Networking Point in the main convention hall.  You can follow us at @VisualLease or subscribe to our lease management blog.  On twitter you can follow #CoreNet for updates from all attendees.  Jones Lang LaSalle’s feed is @jllnews.

After receiving excellent reviews from the last CoreNet Global Summit, Marc E. Betesh, President of Visual Lease and Michael E. Meyer, Managing Partner of DLA Piper will be speaking at the upcoming CoreNet Global Summit in Phoenix, Arizona about the upcoming changes to BOMA’s Standard Method of Measurement of Office Buildings.

Rents are almost always quoted on a cost per rentable square foot.  As a result, the way square footage is measured can have a profound impact on leasing costs.

In 2010 BOMA once again adjusted its recommended method of measuring rentable and usable square footage.  What does this mean for tenants leasing new space? How will this impact rental rates and terms of existing leases? This session will explore the meaning and effects of BOMA’s new rules, interpreting the material in a way that is clear, simple and easy for tenants to remember and apply.

Marc and Michael will be speaking and fielding your questions on Monday, September 20th during the Workplace Snap Session from 2:30 pm to 3:00 pm.

Mark your calendar to get valuable pointers from two of the country’s top real estate leasing experts. Marc E. Betesh, President of Visual Lease and Michael E. Meyer, Managing Partner of DLA Piper will teach you how to keep that great deal on track during the CoreNet Global Summit in New Orleans.

When uncontrolled, certain elements of real estate lease deals can turn good deals into bad. Learn from industry experts how to negotiate operating expense language that is in line with underlying business goals, and how to ensure that leases stay on track post-execution. Click here to read Michael Meyer’s Checklist for Negotiating a Fair Lease Audit Provision.

Marc and Michael will be speaking and fielding your questions on Monday, April 19th during the Optimizing Resources Snap Session from 11:00 am to 12:30 pm.

Are you attending? Visit us at Booth #628

If so, we welcome you to learn more about Visual Lease and our Lease Management Software solutuions.  Marc Betesh and Anthony Beja will be at Booth #628, and look forward to meeting you in person.  Contact us for inquiries and special requests.

Learn More: CoreNet Global Summit

Join your peers for vital knowledge sharing and networking. Attend the CoreNet Global Summit, Las Vegas, October 12-14, and discover new strategies and innovative solutions. 
Click here to go to the event site.

More about Corenet Global

CoreNet Global is the world’s leading professional association for corporate real estate and workplace executives serving leading multinational companies from the Fortune and Global 1000. More than 7,000 members manage over $1.2-trillion in real estate and workplace assets in Asia, Australia, Europe, Latin America and North America. Learn more.