New challenges in New Media.

Paralleling the activity of the stock market -- and thriving from it -- New Media has become one of New York's fastest growing industries. A highly diverse category, it is without precedents in terms of products and operations. But in general, these companies come with an unusual set of criteria for office space, as well as unconventional operational requirements.

Working with such rapid growth companies as Freeride.com, Kozmo.com, Iturf.com and B12, the Hunter Realty Organization is now at the vanguard of a new group of full-service real estate firms that have developed services specifically tailored to the New Media industry.

Within the brief period of time that we have been involved with this niche market, we have discovered how working with New Media calls for a clear understanding of their special needs in office space and how to anticipate the growth of these mostly young start-ups. Hunter has been able to successfully assist several of these firms in the leasing, facilities management and construction of their offices.

The fact that Hunter was founded around the first wave of New Media in Manhattan has given us several mutual frames of reference: We know what it is like to lease an office and quickly expand the business beyond the space. We have also been witnesses to the transformation of the downtown area and, as managers, we have participated in efforts to accommodate this new group with industry-specific amenities and services. It is an accepted norm for building management to provide seven days-a-week 2-hours-a-day office services mad other specialized building requirements, such as additional HVAC and high speed wiring in buildings with multiple New Media firms.

In this market, it is not unusual for our construction management division to implement a build out of 2,000 square feet in which 30 people will be working in separate computer stations, and where the ergonomics will be as important as the technical considerations.

On the leasing side Hunter early on established a dedicated New Media division that focused on locating office space primarily in the Wall Street anal Flatiron areas. Further tailoring on services to meet the needs of New Media, our management division has extended its profile to provide asset management, in addition to facilities management.

More often than not, Hinter combines services that function almost like partnerships, because we are not only assisting with the current facilities design and development, but also helping with basic business operations and future projectons. In addition because New Media, as an industry has developed a "fit and trim" ethos in terms of business environments, eschewing traditional office managers, etc. we are often responsible for continuing in the overall facilities management long after construction has been completed.

It is not unusual for us to function concurrently as asset managers office managers, construction managers and leasing agents. And it's gratifying, too, because in several cases these relationships have allowed us to play key roles in the success of the various firms.

Hunter is often at the table on behalf of the tenant negotiating for additional base building services such as after hour freight security, and HVAC. At the same time, we remain cognizant of the building owners criteria - and the other tenants in the building and negotiate to accommodate all involved parties.

These practices are an extension of our overall approach of tailoring services to meet the needs of companies in specific industries our combined skills and flexibility have allowed Hunter to represent films in a wide range of business categories in addition to New Media including retail, she apparel industry financial institutions and law firms.

Clearly, there is a whole new frontier where real estate companies are providing an ever-expanding range of services that encourage growth in multiple markets. And when a New Media firm comes to us we look at their space and operations needs in relation to where they will be in five years. Then we can provide a practical expertise so that they, can focus on their own businesses.

Today's marketplace is an exceptionally exciting one in which to do business because our company is growing and transforming alongside other industries. Moreover the greatest benefit of the services that we are compelled to provide to New Media companies is that they are useful to so many others businesses. By default, we are bringing a whole new meaning to the traditional concept of the "one-stop shop."