LOS ANGELES—There's a gap between recognition and action when it comes to real estate portfolio agility. Corporate real estate executives recognize the need for portfolio agility, but just 14% of those surveyed recently by CBRE would say their organizations are meeting that need. That's the case even as 67% of the survey respondents rank agility as a critical element of their overall success.
“It's early in the strategy for most companies,” says Brandon Forde, CBRE's executive managing director for advisory & transaction services | occupier. Accordingly, corporate real estate departments are still getting the lay of the land. “On top of that, the marketplace is changing rapidly.”
CBRE explores the concept of real estate agility in a pair of reports discussing the implications for occupiers and investors, two groups that obviously approach agility from different vantage points. In terms of occupiers, says Forde, “Companies have been experimenting with workplace strategies for a long time. They've been exploring different ways to lease space, whether short-term, sublease or serviced office, for a long time.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
