Dienstag: It is vital to be able to interpret the market in new ways that provide brokers with fresh insight, which is then conveyed to clients. This helps brokers remain ahead of the curve. While it is important to understand general market dynamics, being able to recognize and forecast new trends, not just directly of the market, but also on the economy and demographics, is even more significant. Our clients are increasingly more concerned about where the market is headed. Where research provides value is not just looking at what has already happened, but what are the opportunities or potential dangers that are developing around the corner. We want to combine the vantage points of research and brokerage to provide clients ultimately with a complete view of the market.

GlobeSt.com: How has the role of a research analyst at a commercial real estate brokerage firm changed over the past five years?

Dienstag: Duties of research departments have dramatically changed over the last five years. The focus was previously heavily weighted toward tracking and reporting market statistics. While that remains very significant, research responsibilities have evolved based on new client expectations. In addition to market trends, research analysts need to explain what is driving the market at the industry, sub-sector and company level for all property types. Also, research departments no longer consist of exclusively back-office roles, since it is important to engage with the stakeholders like investors, tenants, and developers. Research has evolved from concentrating solely on what is happening in the marketplace to understanding what and who are the underlying factors driving the fundamentals. There is a story behind every statistic, and it is critical to understand what those stories are.

GlobeSt.com: What does the future hold for the research analyst role in commercial real estate?

Dienstag: With industries from across the board placing more emphasis on data in their decision-making process, commercial real estate is no different. Demand for information will continue to escalate as investors, landlords and tenants look to have as much knowledge at their disposal.

GlobeSt.com: What is the biggest trend in 2016 that you will be watching?

Dienstag: The biggest trend in 2016 will be the evolution of commercial real estate properties and how they change based on demand. All property types—office, industrial and retail—are going through transformations. Tenants of office properties are seeking new building and area amenities, which are being addressed in new developments and repositioning projects. Many older industrial buildings are becoming obsolete, with users requiring higher functionality from their space. As online shopping grows in popularity, retail landlords are repositioning shopping centers to attract consumers to visit and shop at their properties by increasing the number of restaurants, entertainment options and community meeting spots because these are elements of the shopping experience that can't be found on a website.