6C — April 15 - 28, 2016 — Southeastern Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
S outheastern P ennsylvania
229 executives surveyed by CBRE Group, Inc. Corporate executives say talent trumps cost as the leading driver of real estate decisions
P HILADELPHIA, PA — A new survey of cor- porate executives un-
restructuring as a top strategy for reducing occupancy costs. “With talent retention and cost management both so high- ly valued, yet clearly in conflict when jointly pursued through traditional means, it is more important than ever to explore new and innovative solutions,” said Julie Whelan , Americas head of occupier research for CBRE. “What’s clear from this survey is that today’s corporate real estate executives must balance the new workforce de- sires with a realistic workplace strategy that brings talent and expense management into si-
eration in real estate decision- making, while only 31% named real estate cost as a top factor. People and workplace ex- perience are dominating the corporate real estate agenda, together with escalating costs, according to CBRE’s Americas Occupier Survey. Today, these two issues are driving real es- tate conversations; as a result, workplace strategy is increas- ingly being viewed as both a critical employee attraction and retention strategy (57%), and as a means to control costs. Further, of survey respondents, 85% cite space efficiency and
multaneous focus.” Survey respondents indi- cated that their labor force— which is more generationally and ethnically diverse than ever before—places the high- est importance on the desire for a great “work experience,” specifically the functionality of the workplace, freedom of work style and a sense of community. “Connectivity to the people and places needed to get the job done and freedom of choice in choosing when and how to work are the primary prefer- ences of today’s labor force. Corporate executives are tak-
ing notice and prioritizing the workplace experience when making real estate decisions today,” said Karen Ellzey , executive managing director, Global Workplace Solutions, CBRE. “We hear this conversa- tion every day when working with our clients, but this survey confirms that there has in fact been a paradigm shift when it comes to the way companies view the role of real estate in their business.” Among the workplace attri- butes at the top of the priority list, survey respondents cited: • Connectivity to partners and suppliers (44%) • Flexible working (42%) • Flexible workspace (39%) • Provision of amenities (34%) • Indoor environmental qual- ity (33%) • Public transportation acces- sibility (24%) The corporate real estate executives surveyed also iden- tified the critical areas still needed to answer the call of to- day’s target workforce. Among them are a commitment from the C-suite to empower and ap- prove the delivery of a modern work environment – and with that, accurate, quality data to justify the strategy, and capital to implement. “This is not a space where corporate real estate depart- ments can act alone. If the ex- pectations of tomorrow’s labor force are to be met, a combina- tion of HR policy changes, inte- gration of IT advancements and adaptation of modern cultural and managerial practices are required to ensure workplace change is both functionally ef- fective and financially sustain- able for the long-term success of the organization,” added Ellzey. n CBRE arranges sale of class A suburban office building in Harrisburg HARRISBURG, PA — Mi- chael Curran, Jeremy Shyk and Steve Marzullo of CBRE brokered the sale of an 87,000 s/f class A office building in Har- risburg. The building, histori- cally referred to as the AT&T building, is located at 2550 Interstate Dr. During the trans- action CBRE represented the seller, Lexington Harrisburg L.P., an affiliate of Lexington Realty Trust. The buyer was Linlo Properties and was rep- resented in house. n
derscores a major shift in how com- panies are making real estate deci- sions today, wi th mo r e t h a n h a l f
Karen Ellzey
saying that talent now trumps cost as the top strategic consid- eration. Of the 229 executives surveyed by CBRE Group, Inc. , 50% named talent avail- ability as the foremost consid-
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