Search
 

Changing Face of Business Spurs Mobility Issue

NEW YORK CITY-With more businesses going global, and a younger demographic entering the work force, many companies are examining flexibility and its effect on real estate.

By Melissa Kress | Updated on May 14, 2007

NEW YORK CITY-Two years ago Lenovo emerged as the result of the acquisition by the Lenovo Group of the IBM Personal Computing Division. Now, the newly formed company faces several issues, with real estate and how much of it they should have, near the top of the list.

“We’ve been in business globally for two years and we’re still looking at several issues, [including] where to put our team and our changing portfolio,” Deidre Buzzetto, director of global real estate at Lenovo, said. She added that because the company, which has its executive headquarters in Morrisville, NC, is “extremely mobile,” in the future it will probably need less space than it has now. Buzzetto’s comments came at CoreNet Global NYC discussion panel on the new work force and the changing realities of the workplace.

“We look at our portfolio and still see too much space. Most of our workers are going from 6 a.m. to midnight and they can do that anywhere,” she explained. “Our largest space is 600,000 sf in Raleigh. The rest of our space in the US is small centers. We are starting to take a look at one-year leases so we an assess where to put people. People don’t even use their office phones anymore.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.