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Corporate Real Estate under pressure from all sides


The changing technology landscape means C-suite executives are placing increased demands on the corporate real estate (CRE) sector, according to JLL's third biennial Global Corporate Real Estate Trends survey.

The study, which polled 544 CRE executives in 36 countries, found that there has been a sharp decline in the past two years in the number of teams who feel they are well equipped to deal with corporate demand.

The global real estate company also notes that the industry is in a state of transformation - previously clients looked at CRE professionals as property managers, however they are increasingly expecting these teams to provide specialist counsel and expertise.   

The findings of the report should also be helpful for investors looking to develop their property portfolios. With occupants expecting facilities that keep up with changing organisational needs, it is perhaps best to consider properties designed for modern businesses.      

JLL CEO of Corporate Solutions, Americas John Forrest says CRE sector must catch up with the pace. 

"C-suite executives are demanding office space that make employees more productive, and expect CRE executives to use sophisticated data and analytics to make their global facilities portfolios highly efficient. Many of these demands require CRE executives to speed up their pace of change, and get out of their comfort zones," he added. 

He also commented that the business-as-usual approach is no longer feasible.

"The C-suite simply will not accept 'we've always done it this way' for an answer any more and they shouldn't," noted Mr Forrest.

However, there are ways that CRE professionals can make it easier to manage the process - ranging from reorganising team structure to be more efficient and ways of incorporating data analytics in corporate real estate decision making.

The bottom line is that businesses are expecting more out of their real estate partners and this requires the latter to be proactive to the needs of their clients. 

Date Published: 27 Jul 2015
Category: General News

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