Page 44 - RC21 EDGE Summer Issue

SPOTLIGHT: Corporate Real Estate
THREE WAYS TO SEIZE CORPORATE REAL ESTATE OPPORTUNITIES THIS YEAR
CHAD SMITH
VP, Product Strategy iOFFICE
THERE’S NO QUESTION THE PANDEMIC disrupted the corporate real estate market, but it also uncovered new opportunities for CRE leaders.
60% of corporate real estate professionals reported they
are aggressively pursuing contraction, consolidation or exit plans as a result of COVID-19, according to CBRE’s Future of the Office report. Additionally, 74% paused expansion plans and 52% paused office relocations. Many also delayed capital improvements not related to the pandemic.
Although the majority of companies expect to return to the office by summer, no one expects to go back to the way things were.
But that’s not necessarily bad news. Many organizations already offered employees the option to work remotely,
and more than half already planned to adopt some level
of unassigned seating; the pandemic simply accelerated those plans. This presents new challenges, but with the right approach, corporate real estate leaders can use them to their advantage.
As you re-evaluate your portfolio, here are three ways to set yourself up for success going forward.
Take advantage of flexible office space strategies
Although many employees have become accustomed to working remotely over the past year, Gensler research shows 70% want to spend three to five days in the office after it reopens.
Employers are exploring new ways to create a “hybrid workplace” that allows everyone to collaborate in person
44