Corporations are now starting to take their real estate portfolios more seriously and changing the market at the same time.
By
Tony LoPinto
|
Updated on November 16, 2010
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Corporate Restructures A byproduct of the great recession is the restructuring of how companies think about, plan for, and deal with their often massive real estate positions in the form of leases, owned real estate, and a broad range of facilities services (food, mail, procurement, etc). Historically, corporate real estate was a third-rung cost center, but that’s all changing, big time. Corporations have become sharply focused on the extraordinary impact real estate has on the balance sheet and bottom-line results. Across all industries, CEO’s are getting aggressive about change management and new approaches to what is now recognized as a core element of their business. At the same time, M&A activity, such as the Pfizer/Merck merger , and corporate failures such as Lehman, jettisoned an incredible array of talent into the market. This mix of cutbacks and restructuring, realignment, new directions, excess human capital, and for many of the largest corporations, challenging expansions throughout AsiaPac, is creating one of the most dynamic real estate stories in history, and with it, the repositioning and retooling of corporate real estate talent, both inside the company and with its service providers.
Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
CO STAR GROUPDirector of Building Rating Systems (WASHINGTON, DC) With an in-depth understanding of commercial real estate market property quality and features that differentiate the value of property, short term and long term, to renters and owners, the director of building rating systems will become the manager and point person in charge of the new CoStar 5 star building rating system. The building rating system will cover all property types but focus first on office, then industrial, retail and multifamily. WILLIAMS & WILLIAMSVice President of Asset Management (DALLAS) The firm is seeking a vice president of asset management that can re-engineer a scalable customer support and operations division and spearhead business innovation and process improvement throughout our operational divisions. Candidate must have 10 years of operations with an emphasis in process development/process reengineering in an asset management setting. THE PALMER TEAMCapital Markets Partner (SACRAMENTO) The Palmer Team, an industry leading private commercial real estate firm, is seeking a real estate professional to join its capital markets team. A successful candidate will be responsible for underwriting, marketing, structuring debt and equity, and the management of client relationships. SELECTLEADERSSales Manager (NEW YORK CITY) SelectLeaders, the leader in online professional and executive hiring for the commercial real estate industry, has an immediate need for an e-commerce business to business sales and online marketing manager. (end of sponsored)
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