In profile: DTZ's director of CBD office leasing, landlord and institutional investor services, Adam Jones
Name: Adam Jones
Position: Director of CBD office leasing, landlord and institutional investor services
Company: DTZ
Office Location: Melbourne
How long have you been in the industry?
I have been in the industry since 2000, starting off in retail leasing then a short stint in corporate services and then specialising in CBD leasing.
What’s happening in the area you specialise in?
Very interesting times in that the Melbourne CBD vacancy rate has declined in the last six months, which should see incentives stabilise or reduce marginally from the levels they were at last year.
Unlike the past five years which has seen numerous developments come on stream which is well above historical averages, only two new developments, namely Medibank’s new headquarters at 720 Bourke Street and Westpac’s new office at 150 Collins Stree,t are due to be completed this year. Landlords by the end of the year should start to see some semblance of rental stability or growth.
Describe the most interesting property you have leased?
717 Bourke Street which was a brand new 38,000 square metre development in Docklands was interesting from the point of view of the technology involved in the design. 500 Collins Street was also unique in that the building was comprehensively upgraded with tenants in situ with sustainability as its cornerstone. It was the first refurbishment project in Australia to receive a five star Green Star design rating from the Green Building Council of Australia.
What are the ingredients to being successful in your job?
Remaining positive and patient as some deals can take an extremely long time to finalise. The old cliché about thinking outside the square is also important as Landlords are seeking people who can add value rather than act as a facilitator – you need to be able to provide a point of difference.
What aspects of your role do you enjoy the most?
I enjoy coming up with strategies for landlord’s as to how best to market and differentiate their asset in what is a competitive environment. It is also enjoyable coming up with different methods of identifying who is the best fit for a particular space, particularly doing this before our competitors.
Where would you invest a spare $750,000?
If I was a landlord I would look to upgrade my end of trip facilities, as all tenants these days have a strong focus on this. I would also look to spec a fitout, particularly if the space is clear and has been sitting vacant for an extended period. From a personal viewpoint a little thing called a mortgage and put some away for school fees for when my kids get older.
Which football team do you support?
Hawthorn. Very passionately. I am looking forward to back to back flags!
What’s your favourite app or techno gadget?
My Blackberry
How do you use social media?
Twitter for business snapshots/articles and LinkedIn to stay across who is moving and who key decision makers within various companies are.