Commercial Real Estate 2.0
Much as the economy may be experiencing a K-shaped rally, commercial real estate may exhibit the same uneven recovery. Our Real Estate Leadership Group (RELG), a diverse group of landlords, developers, architects, and technology firms, has spent considerable time over the past year discussing what Commercial Real Estate 2.0 may look like. In the face of competitive rents, tenants are looking to migrate to technology enabled buildings that provide digital amenities, clean air, transit and mobility, climate control, and that have strong ESG profiles. This migration to tech-enabled real estate may bring down landlord costs, which could provide additional margin notwithstanding the projected lower rents, and may result in a movement from Class B to Class A real estate.
Collaboration on these big and complex challenges and opportunities will be a key to recovery. Elmar Pritsch of Bosch and Clare De Briere of Skanska will address the RELG on both external and internal collaboration on April 9.