The Weekly Take from CBRE: Recent Episodes
CBRE
What matters most right now in Commercial Real Estate. Business leaders join economic, subject matter and industry experts to share their distinct views and latest thinking. Hosted by Spencer Levy, CBRE’s Chairman of Americas Research. Visit us at CBRE.com/TheWeeklyTake
Barings’ John Lippmann and CBRE Investment Management’s Elisabeth Troni share strategies for navigating risk and unlocking value in core real estate investment portfolios. From alternatives to secondary markets, top funds are adapting to outperform in a shifting landscape.
Key takeaways on evolving investor strategies:
· Alternatives are reshaping core portfolios, with newer funds allocating heavily to data centers, seniors housing and single-family residential.
· Operational expertise is a performance driver, particularly in shorter-lease-term asset types that require service-oriented models.
· Smaller markets offer strategic upside, with investor focus shifting to high-growth, affordable areas like El Paso and West Palm Beach amid demographic and affordability trends.
· Flexible fund structures allow managers to hold through market cycles and avoid forced sales in illiquid environments.
· Benchmarking tools enhance insights into income vs. appreciation return potential and help investors measure returns.
MetLife Investment Management’s Sara Queen and CBRE’s Tommy Lee explore the shifting dynamics of commercial real estate investing. They offer seasoned insight on a range of topics, from NYC office to data centers to build-to-rent residential and much more.
Key takeaways on real estate investing:
· High-net-worth investors are stepping in aggressively during the current market cycle, while institutional capital remains cautious and highly selective.
· Data centers benefit from sustained strong demand, but require disciplined underwriting due to lease rollover risks and rising competition.
· Many institutional investors prefer targeted strategies in assets like build-to-rent, industrial and retail, giving them more control and precise capital deployment.
· Office development in New York remains fundamentally attractive, but securing equity partners is challenging due to risk expectations and long completion timelines.
· MetLife is experimenting with AI to enhance investment committee decision-making, enabling a sharpened focus on key risks and opportunities but not replacing human judgment.
Amid evolving trade dynamics, CBRE experts reveal how nearshoring, supply chain reinvention and revitalized twin-plant models are reshaping industrial markets on both sides of the U.S.-Mexico border. Notably, demand for logistics space and construction activity is booming along the I-35 Corridor.
Key takeaways on U.S.-Mexico Border Markets:
· Port Laredo Surpasses Traditional Gateways: Currently the top U.S. import hub by value, Laredo’s rise reflects a structural shift in trade flows. Demand for modern logistics facilities near the U.S.’s southern border continues to grow.
· Kansas City Leads for Absorption and Connectivity: With 28% leasing growth and strategically situated along I-35 with access to a newly unified Canada–Mexico rail system, Kansas City is emerging as a central node for North–South supply chains—ideal for occupiers seeking scalable inland distribution.
· 14M+ SF Under Construction in El Paso and Laredo. These border markets are seeing major development of automation-ready cold storage and FTZ-enabled facilities. This signals long-term confidence and presents opportunities for early investment in next-gen industrial assets.
· Twin-Plant Models Resurge: The return of dual facilities operating on both sides of the border is fueling demand for more sophisticated manufacturing and distribution space t. Occupiers should evaluate cross-border strategies to optimize labor and logistics.
· Keen Competition to Secure Labor Cost Advantages: Border markets offer up to 70% labor cost savings vs. most U.S. cities, and have a skilled workforce. However, occupiers must act strategically to secure talent in a highly competitive market.
CBL Properties’ Stephen Lebovitz and CBRE’s Rich Frolik explain how malls are being transformed into high-performing, mixed-use assets. From casinos and hotels to pickleball and movie theaters, malls are evolving to meet modern demand.
Key takeaways on the evolution of malls:
· Malls are transitioning into multi-use destinations, integrating entertainment, hospitality and residential to diversify income and increase relevance.
· Financing is increasingly accessible for retail assets, with recent deals showing lender confidence and competitive debt structures.
· Success depends on hyper-local strategies, with redevelopment tailored to demographics, infrastructure and competitive dynamics.
· Malls in secondary markets benefit from large trade areas and limited alternatives, reinforcing their role as dominant regional retail hubs.
· Redeveloping legacy anchor spaces into formats that appeal to current customer wants and tastes can unlocks value and enhance long-term viability.
Net lease assets are attracting more institutional capital. New Mountain Capital’s Teddy Kaplan and CBRE’s Will Pike explore why this resilient, tax-efficient investment strategy is gaining favor.
- Attractive in volatile markets: Positioned as a hybrid asset class—part real estate and part structured finance, net lease investments offer cash flow backed by quality credit tenants.
- Manufacturing momentum: Production facilities are emerging as high-performing assets due to their strong cash flow and tenant investment in infrastructure.
- Sale-leasebacks as strategic tools: Investors and corporate occupiers are increasingly using sale-leasebacks to unlock capital, especially in sectors where considerable capital is tied up in operating assets.
· Capital market resilience: Despite macroeconomic headwinds, net lease is attracting institutional capital, with growing interest from large institutions and wealth management channels.
· Risk-adjusted returns and geographic nuance: Cap rates and valuations vary significantly by location and tenant credit quality, underscoring the importance of underwriting both real estate fundamentals and corporate financial health.
·Industrial Outdoor Storage (IOS), a twist on a classic property type, is attracting institutional capital.
With sub-3% vacancy and strong rent growth, Industrial Outdoor Storage (IOS) is outperforming traditional industrial assets.
· Zoning and entitlement hurdles limit new IOS development, boosting demand for existing sites.
· Major investors are amassing IOS portfolios, following the path of self-storage and single-family rental.
· IOS supports logistics, construction and utilities with strategic infill locations and flexible outdoor space.
· Electrification and evolving logistics technology are reshaping IOS.
Nareit’s Steven Wechsler explains the advantages of investing in real estate through REITs. The conversation touches on the evolution of REIT sectors, the impact of interest rate movement, liquidity and tax efficiencies and the wide range of investment options available.
Key takeaways:
· Organized to Provide Structural Discipline and Tax Efficiency: REITs must distribute at least 90% of taxable income annually and maintain strict asset and income thresholds, creating a disciplined framework that supports consistent investor returns.
· Public REITs Are Conservatively Managed: With average leverage around 30%, public REITs are significantly less leveraged than private real estate vehicles, reducing financial risk and enhancing long-term stability.
· Global Options: REITs are publicly traded in major markets around the world.
· Positioned for Opportunistic Acquisitions: REITs with strong balance sheets and access to capital are well-positioned to acquire assets or portfolios when pricing becomes accretive.
· Provide Access to Emerging Asset Classes: The REIT structure includes data centers, cell towers and healthcare facilities, aligning with broader economic and technological changes.
Mortenson’s Maja Rosenquist and CBRE’s Gordon Dolven examine one of real estate’s most dynamic sectors. They discuss how AI’s growth has accelerated data center development, how site-selection strategies are evolving and the challenges posed by power constraints.
Key takeaways on data center trends:
· Data center site selection is increasingly dictated by access to scalable power, increasing development in markets with robust energy infrastructure.
· AI-driven demand is accelerating the need for hyperscale campuses, with some sites spanning thousands of acres and requiring gigawatt-level capacity.
· Lease structures are based on power usage rather than square footage, with rental rates rebounding over 50% since 2021 due to limited availability.
· Long-term capital is flowing into the sector, with infrastructure funds driving a shift in investment strategies.
· Labor and construction cost pressures are prompting innovations like prefabrication to meet the demands of billion-dollar builds.
Real estate titan Stephen M. Ross shares his bold vision for commercial real estate and West Palm Beach. Ross sees the rising Florida market as a hub for innovation, business activity and entertainment, highlighting strategic investments in healthcare, education and cultural amenities, Ross looks back on an incredible career as a developer and entrepreneur.
Key Takeaways:
· West Palm Beach Is Emerging as a Strategic Business Hub: With major investments in infrastructure, education and healthcare, the city is evolving from a back-office market into a front-line destination for corporate headquarters and innovation.
· Walkability and Waterfront Access Are Driving Tenant Appeal: The city's urban design, combined with its coastal location, offers a lifestyle advantage that's increasingly important for attracting and retaining top talent.
· Class A Office Space Is Thriving Despite National Trends: Premium developments in West Palm Beach are commanding Florida's highest office rents, signaling strong demand from financial and tech firms seeking quality and location.
· Inclusive Growth Is Key to Long-Term Value: Investments in workforce housing, K–12 education and cultural amenities are creating a well-rounded ecosystem that supports both occupiers and employees.
· Palm Beach County Is Competing with Top Growth Markets: With its favorable business climate, lifestyle advantages and expanding infrastructure, the region is positioning itself alongside cities like Austin, Nashville and Dallas as a top choice for corporate expansion.
Key Takeaways on the Real Estate Outlook
· CBRE foresees U.S. commercial real estate investment activity increasing by 10% in 2025, despite macroeconomic uncertainty.
· CBRE believes the office market is passed its trough and leasing activity should continue to rebound.
· Industrial & logistics leasing activity will likely be on par with last year. Occupiers want modern facilities that are close to consumers.
· Availability of retail space will remain relatively tight due to limited new construction over the past decade. Retailers prefer space in high-traffic, open-air centers in growing markets.
· Rents have generally bottomed out in the multifamily market. The Midwest and Pacific Northwest are poised to lead national rent growth.
· Data Centers and the credit markets represent opportunities for nimble investors.
Entrepreneurs Sam Fox and Brian Frakes offer insights on their hospitality-driven approach to real estate development in Phoenix and how curating experiences and operating assets themselves are driving value.
Key Takeaways:
· Hospitality-led development is reshaping urban real estate, with restaurants and hotels serving as anchors that drive traffic, elevate brand identity and boost asset value.
· Phoenix is emerging as a high-growth, diversified market, supported by strong demographics, pro-business policies and expanding sectors like semiconductors and healthcare.
· Controlling the operations of hospitality assets enhances consistency and guest experiences, creating a competitive edge and long-term brand loyalty.
· Investment strategies are evolving, with developers leveraging a mix of institutional equity, local partnerships and vertically integrated operations to deliver complex, high-value projects.
· Experience is the new differentiator in retail and hospitality, as consumers increasingly prioritize service, ambiance and authenticity over convenience.
In the fourth episode of our European tour, HB Reavis' Steve Skinner and CBRE’s Alastair Perks and Simon Brown explore how asset renewal, sustainability priorities and operational excellence are transforming real estate development across Europe.
Recorded in London, this discussion with Raimondo Amabile, Co-CEO of PGIM Real Estate, focuses on RealAssetX—the company's innovation lab that's leveraging AI to improve building operations and asset performance.
Key Takeaways:
· PGIM Real Estate’s RealAssetX lab is focused on transforming real estate investing through AI, sustainability and operational efficiency, signaling a shift from traditional asset management to tech-enabled value creation.
· Investors are reallocating capital to Europe and Asia, reflecting a broader trend toward geographic diversification and shifting regional macroeconomic confidence.
· Applications of AI in building systems, such as HVAC optimization, are delivering significant energy savings, demonstrating the potential for improved net operating income (NOI) and sustainability.
· New AI tools are being developed to estimate embodied carbon at scale, positioning sustainability as a core factor in asset valuation and investment strategy.
· Rental housing, logistics, data infrastructure and real estate credit are key areas of investor focus, while office assets require a highly selective, value-add approach.
AEW's Chief Investment Officer and Head of Private Equity and Private Debt in North America, Mike Byrne and CBRE's Vice Chairman and Co-Head of US Large Loans in Debt & Structured Finance, Tom Traynor provide insights on how real estate investors today can mitigate risk and uncover opportunities by strategically deploying capital across diverse asset classes and regions.
insights on deploying global capital:
· Today's market demands flexible investment strategies that can adapt quickly to geopolitical shifts, interest rate changes and capital market volatility.
· High-quality office assets in prime locations are piquing investor interest, offering potential upside while demand for class B/C assets remains muted.
· Debt capital availability is improving, with both traditional capital sources and alternative lenders actively competing to finance deals.
· Investors are increasingly targeting high-growth submarkets, prioritizing local demand drivers over broad asset class preferences.
· Technology and AI are influencing investment decisions, with growing potential to enhance underwriting and portfolio strategy.
In this second installment of our series on Europe, Schroders Capital’s Nick Montgomery and CBRE’s Lee Bruce share insights on AI-driven strategies, sustainability and asset repricing.
From This Episode: Recent insights on the U.K. investment market:
- U.K. investment volume has picked up since late last year, buoyed by international capital.
- AI and data tools are streamlining everything from valuations to investment analysis, enabling faster, more informed decisions while freeing up time for high-value activities.
- The office sector continues to bifurcate, with top-tier, amenity-rich spaces commanding strong rents while the lowest-grade assets face obsolescence or conversion.
- Sustainability is a key performance driver, with occupiers and investors increasingly rewarding green buildings and penalizing outdated, inefficient assets.
- Despite global uncertainty, international capital, particularly from Asia and Australia, is returning to the U.K., signaling renewed confidence in its real estate fundamentals.
Recorded during a CBRE event in Barcelona, Panattoni’s Robert Dobrzycki and CBRE’s Jack Cox explore the European logistics market with a focus on opportunities in today’s market.
- Growth in Europe’s Industrial & Logistics sector is expected to driven by demand from 3PLs, e-commerce and manufacturing.
- Operational expertise is crucial in Industrial & Logistics, particularly in denser urban environments.
- Data centers is a growing niche, with high investment potential.
- The European logistics market is more fragmented than in the US. There's also less development and labor costs play a bigger role in the investment equation.
- Geopolitics, evolving trade policies and technology advancements all have an influence on the European logistics market.
· With sub-3% vacancy and strong rent growth, Industrial Outdoor Storage (IOS) is outperforming traditional industrial assets.
· Zoning and entitlement hurdles limit new IOS development, boosting demand for existing sites.
· Major investors are amassing IOS portfolios, following the path of self-storage and single-family rental.
· IOS supports logistics, construction and utilities with strategic infill locations and flexible outdoor space.
· Electrification and evolving logistics technology are reshaping IOS.
Macquarie Group’s Andrew Burdick pulls the curtain back on the company’s newly reimagined Americas headquarters in Midtown Manhattan. Burdick and CBRE’s Lenny Beaudoin discuss how design, flexibility and sustainability can converge to create spaces that foster innovation, support company culture and drive long-term value.
· Workplace design can reflect and reinforce your organization’s mission and culture. When space aligns with purpose, it becomes a tool for engagement, innovation and long-term employee satisfaction.
· Design an office to support various ways of working like collaboration, focus and events. This maximizes space efficiency while supporting evolving work patterns.
· Open staircases and shared social zones drive spontaneous interaction, collaboration, creativity and a sense of community.
· A great workplace integrates technology seamlessly from smart systems to digital collaboration tools, creating a cohesive experience for in-person and remote colleagues.
· Measure engagement and satisfaction and make them the barometer of success.
CEO John Santora discusses WeWork’s revival, and its focus on real estate fundamentals, disciplined growth and delivering flexible, hospitality-driven office solutions worldwide.
· WeWork has repositioned itself as a real estate-first company focusing on strategic locations, hospitality services and profitability.
· Demand for flexible office space is accelerating, with enterprise clients requiring scalable, adaptable solutions.
· Tech, finance and pharma are setting the pace for demand.
· WeWork has begun training its staff using Ritz-Carlton’s hospitality standards.
· Today, WeWork utilizes revenue-sharing, management agreements and traditional lease models.
Two international experts—Pro-invest Group’s Sabine Schaffer and CBRE’s Stuart McCann—unpack the fundamentals and investment appeal behind co-living.
Share these insights on co-living, which is attracting residents and capital, particularly in overseas markets:
• Co-living fills a market gap between hotels and multifamily, and is distinguished by resident tenure, product mix and community social environment.
• Co-living offers flexible, furnished units with strong appeal to working professionals and students.
• Co-living assets can be an attractive investment, delivering stable income and occupancy as high as 95%+.
• Conversions of offices and hotels can often be delivered more quickly and at lower costs than ground-up co-living development and produce better risk-adjusted returns.
• Private equity is flowing into co-living and more institutional core capital may target the sector as it matures.
• Urban affordability and demographic shifts are driving long-term demand, positioning co-living as a scalable residential solution.
With a twist on the conventional lodging business model, Extended Stay America (ESA) has seen impressive growth in recent years. ESA CEO Greg Juceam discusses managing its real estate portfolio and provides insights on the business of long-term accommodations.
Share these insights from this week’s episode:
- Investment Potential: The extended-stay lodging segment offers a resilient and growing opportunity, particularly in secondary and tertiary markets.
- Operational Simplicity: Extended-stay hotels can benefit from streamlined operations and less labor requirements.
- Scalability: ESA’s model combines ownership and franchising, enabling multiple avenues for growth and scalability.
- Diversified Demand: The diverse range of guest demand drivers -- from construction crews to long-term healthcare treatments to digital nomads -- tends to support stable occupancy rates.
- Strategic Expansion: ESA’s focus on new builds and strategic acquisitions positions it well for future growth, even in challenging capital markets.
Fifth Wall’s Brendan Wallace and CBRE’s Connor Hall explore innovation in commercial real estate, from flexible workspaces to AI-driven investment strategies.
Share these insights on proptech investing:
· Investing in PropTech, like all venture capital investments – is high risk and high reward. Investors typically underwrite 40%+ internal rates of return (IRRs), betting that a few transformative companies succeed and compensate for those that fail.
· Investing in PropTech provides early access to innovations that enhance asset performance, reduce costs and create competitive differentiation.
· Artificial intelligence is expected to improve underwriting, asset selection and risk modeling for real estate investors. Those that adopt AI-driven tools early may gain a significant edge.
· The initial public offering (IPO) market has slowed, but standout exits like ServiceTitan show that public capital is still available for top-tier companies. Investors in private companies should be prepared for longer holding periods prior to exits.
· The most investable PropTech companies are those that solve challenges for real estate in operations, capital markets, risk management and elsewhere. Deep industry knowledge is key to identifying winners.
Leading construction and finance experts gathered at Turner & Townsend’s New York office to discuss the impact of tariffs, interest rates, new technology, labor availability and more on commercial construction.
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Uncertainty: The construction industry faces significant uncertainty due to volatile interest rates, higher tariffs and costs for materials and labor.
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Contract Scrutiny: Detailed contract reviews, especially force majeure clauses, are crucial to manage risks.
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Risk Mitigation: Strategies such as early material procurement, storing materials and increased contingencies in contractor agreements are essential to safeguard projects.
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Labor Challenges: Rising costs and shrinking labor availability are critical factors affecting construction projects.
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Affordable Housing: Despite market volatility, affordable housing projects continue due to the critical need for them and creative financing solutions.
Robinson Weeks Partners’ David Welch and CBRE’s Chris Riley discuss market opportunities and challenges in the industrial real estate sector. Chris will be leaving CBRE to join Robinson Weeks in a senior position effective June 1.
Share these insights on industrial & logistics real estate:
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E-commerce helped the industrial sector grow, but a spate of development has created challenges.
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Large-scale redevelopment projects, such as transforming former military bases, can yield substantial returns but require flexible planning, environmental cleanup and, often, partnership with the public sector.
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Modern industrial buildings are designed with increased clear heights and advanced lighting to meet present and future occupier needs.
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Highway and transportation access, utilities availability and environmental regulations are some of the critical factors in industrial site selection.
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Staying informed about local regulations, zoning restrictions and community sentiments is vital for securing project entitlements.
In this bonus episode, CBRE's new Global Head of Research, Dr. Henry Chin, discusses the current outlook for commercial real estate for both occupiers and investors.
Key Takeaways on the Economic and Real Estate Outlook
· Market Sentiment: Real estate fundamentals don’t change overnight. Leasing activity is proceeding across asset classes though some occupiers are delaying decisions until they have more clarity on potential policy changes and their economic impact.
· Economic Indicators: Monitoring not only job growth and inflation but also softer indicators like travel bookings and restaurant reservations provides a feel of the real economy.
· Nimble Capital: High-net-worth individuals can move quickly to pounce on attractively priced opportunities.
Galvanize Climate Solutions’ Joe Sumberg and CBRE Chief Sustainability Officer Rob Bernard share insights on achieving high returns through sustainable investment strategies.
· Profitable Sustainability: Commercial real estate investment strategies that integrate today’s sustainability and decarbonization technologies can enhance returns.
· Economic Opportunities: There is high occupier demand for green buildings, presenting investment opportunities.
· Technological Integration is the key: Using energy-efficiency systems and AI can enhance the operating performance and value of real estate assets.
· Strategic Market Focus: Regulatory frameworks and government incentives can increase the appeal of sustainable investment strategies in certain markets.
Each new generation brings opportunities and challenges to the workplace. Recorded live at ICSC Detroit, leaders from two Michigan-based real estate families, the Schostaks and the Friedmans, discuss the hard but necessary conversations and choices required to maintain a multi-generational enterprise.
Share these insights on succession planning in family-owned businesses:
· Succession Planning: Establish clear governance and involve family members in decision-making to ensure smooth leadership transitions.
· Leadership Transition: Transferring leadership to the next generation requires structured processes and clear roles.
· Family and Business Balance: Balance family dynamics with business operations, making necessary sacrifices for success.
· Adaptability: Evolve business models and diversify services to stay competitive.
· Economic Resilience: Maintain liquidity and seize opportunities during economic downturns.
Stories are what make information memorable and communications more impactful. Author and business consultant Esther Choy discusses business storytelling, emphasizing how engaging narratives can be more persuasive and increase connections with audiences.
Share these insights on how to use storytelling to improve the impact of communications
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Remember the “IRS” model: The Intriguing Beginning, Riveting Middle, and Satisfying End framework helps professionals craft compelling narratives.
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Make emotional connections: Effective storytelling connects with audiences on an emotional level, enhancing understanding of information that influences decision-making.
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Be memorable: Storytelling makes your messages more memorable and meaningful.
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Express empathy and curiosity: A good business story, like any story, feels human and personal, while delivering an insight.
Wharton organizational psychologist and New York Times-bestselling author Adam Grant shares insights on making better business decisions, fostering innovation and how your personal "challenge network” can lead to superior products and delight your customers.
Share these insights on how to be a successful leader:
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Encourage Humor and Humility: They help maintain a flexible and open-minded approach, making it easier to rethink and adapt.
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Have Pre-Mortems: Discuss as many potential failures as possible before launching. That way you can prevent or know how to handle problems when they occur.
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Eschew Best Practices for Better Practices: “Best Practices” implies there’s only one right way, while seeking “Better Practices” encourages people to innovate and try new things.
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Build a Challenge Network: Maintain a group of trusted critics who provide truly honest feedback to improve your decision-making.
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Reward Speaking Truth to Power: Encourage employees to ask questions, suggest improvements and challenge outdated ideas.
Manulife’s Jessica Harrison and CBRE’s Kevin Aussef join us from the CBRE Investor Symposium, where they highlight investment opportunities, particularly in alternative asset classes.
Share these insights:
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Market Momentum: Real estate capital markets are gaining momentum, as the gap between buyer and seller expectations narrows.
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Strategic Investment: Sectors like affordable housing, cold storage, and industrial outdoor storage present attractive opportunities.
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Market Reset and Repricing: Investors are setting their sights on higher returns, even for lower-risk assets.
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New Approach: Manulife has transformed into a private equity real estate investor and launched new investment strategies to capitalize on market opportunities.
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Tech Advances: AI enhances operational efficiencies and predictive analytics, improving underwriting and investment decisions.
We explore Chicago's vibrant real estate scene with CIBC’s Karen Case and CBRE’s Lisa Konieczka. They discuss market dynamics, Fulton Market's emergence and transformation, and ongoing capital markets challenges and opportunities.
Share these insights about Chicago real estate:
- The Big Split: Chicago's office market is bifurcated: creditworthy occupiers looking for high-quality space will have limited options while much of the rest of the market languishes amid a glut of space.
- Important Amenities: Advanced technology, workout facilities and unique features in the best buildings will help attract tenants and draw people back to the office.
- Capital Markets Challenges: High costs and limited access to capital have slowed new development significantly, exacerbating the shortage of premium-quality space.
- Transportation Networks: Chicago's excellent transportation infrastructure supports its diverse economy and enhances its appeal as a business hub.
- Strategic Transformation: Fulton Market has evolved into a vibrant live-work-play area, attracting major tenants and showcasing successful urban redevelopment.
Two self-storage experts—Merit Hill Capital’s Liz Schlesinger and CBRE’s Nick Walker—discuss the sector's strong long-term fundamentals and near-term challenges facing this resilient asset class, including a tepid housing market.
Share these insights about the self-storage industry fundamentals:
- Operators understand the customer: Self-storage customers prioritize proximity and convenience over amenities.
- Data plays a huge role: Savvy investors use data to inform site selection and identify market trends such as the increasing demand for units in urban areas.
- The housing market impacts demand: Investors should be aware of the potential risks and opportunities associated with housing market fluctuations.
- Operational expertise required: Self-storage relies heavily on operational expertise to maximize returns.
Ray Washburne is an accomplished investor with an eclectic portfolio that spans shopping centers, restaurants, energy and more. Washburne offers a unique perspective on market trends, Investment opportunities and the the evolution of cities.
Retail
- Unique Identity Wins: Local restaurants and regional brand dining experiences are essential to attracting visitors to a city or neighborhood.
- Bifurcation of Retail: High-end luxury retailers and those that offervalue to consumers are doing well.
Office
- Demolition Over Conversion: Many older offices are being demolished due to high conversion costs and antiquated construction.
- Amenities Matter: Office buildings with unique amenities are commanding higher rents and driving tenant demand.
Cities & The Economy
· Urban Revitalization: Cities are experiencing a resurgence with new developments driving growth and investment.
· Caution Persists: A large federal deficit, high consumer credit card debt, and sticky inflation are making it essential for investors to be prepared for extended volatility.
Swire Properties’ Henry Bott and CBRE's Troy Ballard examine Miami's growth, appeal to global investors and the Residences at Mandarin Oriental, Swire's luxury condominium project on Brickell Key Island.
Share these insights about opportunities in Miami:
- Miami is thriving: The city is growing rapidly, with strong demand for housing driven by an increasing population.
- Luxury housing is in demand: The Residences at Mandarin Oriental is a prime example of the demand for high-end housing in Miami.
- International investors: Miami’s multi-faceted appeal is attracting buyers from around the world.
- Demographics are changing: Brickell, for instance, has attracted a younger population base.
- Adaptive re-use opportunities: The office market in Miami has softened, but conversion and redevelopment projects are underway.
Stoneshield Capital’s Juan Pepa and CBRE's Adolfo Ramirez-Escudero discuss Spain's economic renaissance, which has engendered bountiful investment opportunities.
Share these insights about investment opportunities in Spain:
- Spain has great fundamentals: Gone are the dog days following the Global Financial Crisis. Spain's high economic growth rate has made it an attractive investment destination.
- Focus on alternative real estate sectors: Some of Spain’s strongest sectors are student housing, life sciences and seniors housing.
- Renewable energy is in demand: Interest in energy and sustainable infrastructure, particularly around data centers and the industrial sectors, is high.
- Big pharma has a big presence: A consolidation of big pharma companies makes the region attractive for life sciences investment.
- It’s a business-friendly environment: Incentive programs and a supportive regulatory environment has drawn inbound capital.
This week we shine a spotlight on San Francisco, a market that is showing increasing signs of shaking off the post-pandemic doldrums. Listen to a wide-ranging discussion as The Bay Area Council's Jim Wunderman and CBRE's Joe Wallace explore the growing impact of AI on local economy and real estate market, opportunities across sectors, public-private collaborations and the city's budding revival.
Share these insights from this week’s episode:
- Tech and AI Potential: The growth of AI is contributing to an economic revival in San Francisco.
- Office-Space Dynamics: Office leasing improved notably in San Francisco in Q4 2024, driven by its strong tech tenant base.
- Housing Development: Increasing the availability of affordable housing is vital for maintaining the city's workforce and economic growth.
- Infrastructure Improvements: Enhancing transportation—including the city’s historic trolley—and other infrastructure systems will support the region's growth.
- Cultural and Tourism Appeal: San Francisco's unique culture, diversity and lifestyle continue to attract talent and investment.
Jamie Hodari, CBRE's CEO of Building Operations & Experience, spotlights where he sees the biggest opportunity across commercial real estate: workplace experience. He discusses how a company’s space can attract tenants and enhance the employee experience, enriching people’s lives and increasing business effectiveness.
Share these insights from this week’s episode:
- Everything is operational real estate: Real estate companies are evolving from asset focused businesses to operating platforms, requiring high-quality management relentlessly focused on workplace experience.
- AI and data utilization are no longer nice-to-haves: Using AI to manage and interpret data is crucial for optimizing building operations.
- Markets are adapting to accommodate hybrid work models with flexible office usage: Urban markets especially put significant emphasis on making downtown areas vibrant.
- Finance institutions are catching up: The finance industry must recognize and adapt to the operational nature of modern real estate.
- Flight-to-quality is expanding: The focus for landlords and occupiers will increasingly be on creating spaces that people find enriching and valuable, not just functional.
With a twist on the conventional lodging business model, Extended Stay America (ESA) has seen impressive growth in recent years. ESA CEO Greg Juceam discusses managing its real estate portfolio and provides insights on the business of long-term accommodations.
Share these insights from this week’s episode:
- Investment Potential: The extended-stay lodging segment offers a resilient and growing opportunity, particularly in secondary and tertiary markets.
- Operational Simplicity: Extended-stay hotels can benefit from streamlined operations and less labor requirements.
- Scalability: ESA’s model combines ownership and franchising, enabling multiple avenues for growth and scalability.
- Diversified Demand: The diverse range of guest demand drivers -- from construction crews to long-term healthcare treatments to digital nomads -- tends to support stable occupancy rates.
- Strategic Expansion: ESA’s focus on new builds and strategic acquisitions positions it well for future growth, even in challenging capital markets.
High-net-worth individuals and family offices can be a lucrative, though difficult-to-access source of real estate investment capital. BNY Mellon's Boryana Zamanoff and CBRE's Zaahir Syed and Compie Newman discuss how to tap into funding from family offices and the strategies these investors are employing under current real estate market conditions.
Significant Pool of Capital: Family offices and high-net-worth individuals collectively represent hundreds of billions of dollars seeking real estate investment opportunities.
Access and Relationships: Family offices often do not entertain unsolicited approaches. It's crucial to build trusted relationships with their advisors who act as gatekeepers.
Investment Preferences and Structure: Family offices often prefer direct investments and opportunities where they can have more control and flexibility.
Market Conditions and Opportunities: High interest rates and current market conditions have prompted family offices to invest cautiously with a focus on data centers, logistics and housing.
Evolving Preferences: The preferences of the next generation are critical considerations. Younger family members often prioritize impact investing and newer asset classes.
Industry experts address the critical topic of property and casualty insurance, a topic that is acutely relevant amid the devastating fires in Los Angeles. AON’s Ryan Barber, Walton Street Capital’s Raphael Dawson and CBRE’s Chris Nassa discuss approaches that can help commercial real estate owners manage risks and stem rising costs.
Share these insights from this week’s episode:
- Innovative Modeling: Property owners should adopt a sophisticated approach to risk management, using advanced tools and models to inform their insurance decisions.
- Captive Insurance: Owners with large portfolios should consider captive insurance and other programs to manage costs and realize profits.
- Data Accuracy: Providing detailed and accurate information about properties can significantly impact insurance modeling and premiums.
- Stay Informed: Companies should designate an in-house expert dedicated to staying informed about insurance market trends and innovations crucial for effective risk management.
Hala Moddelmog of the Woodruff Arts Center and CBRE’s Nicole Goldsmith discuss Atlanta's economic and cultural development, highlighting the role of diverse talent, sports, the arts and entertainment and a welcoming business climate in its rise.
Share these insights from this week’s episode:
- Corporate support, cultural institutions and educational resources fuel Atlanta's economic development.
- The growing preference for mixed-use environments and high-amenity office spaces has attracted global brands and talent.
- Major sporting events like the 2026 FIFA World Cup and strategic urban development projects will continue to shape Atlanta's global standing.
- Addressing infrastructure challenges, particularly in the transit system, are key to supporting future growth.
- One of the most educated cities in the U.S., Atlanta’s ability to retain its diverse, highly skilled workforce is critical for sustained success.
What will 2025 hold for the global economy and real estate? Selma Hepp, CoreLogic Chief Economist, and Richard Barkham, CBRE Global Chief Economist, discuss where they see opportunities and challenges and a few things to keep an eye on.
Share these insights from this week’s episode:
- Despite continued high interest rates, the economy is expected to perform well in the near term, driven by a resilient consumer.
- Housing sales are expected to remain subdued due to persistently high mortgage rates and ongoing affordability Issues.
- Real estate is at the beginning of a new cycle with retail and industrial particularly well positioned.
- Increased insurance costs and property taxes have exacerbated housing affordability challenges.
Back in June, Belinda Román, 2023’s most accurate forecaster, according to The Wall Street Journal, and CBRE Econometric Advisors’ Dennis Schoenmaker opine on the art, science and technology involved in predicting the ebbs and flows of the global economy.
Insights to Share:
- Belinda Román, Associate Professor of Economics at St. Mary’s University, expects GDP growth of 3% this year.
- CBRE EA’s Dennis Schoenmaker expects GDP to hover around 2%.
- Even with slower economic growth, there will be opportunities in commercial real estate.
- Regional, national and global forecasting requires a deep understanding of the available data.
- In commercial real estate, where information has historically been opaque, future forecasting can be enhanced by AI.
It's that time of year - when we reflect on milestone moments of our fifth season. 2024 had some major themes including artificial intelligence's impact on commercial real estate, office conversions, evolving market conditions—and re-examine them all, as well as take our beginning-of-the-year economic forecasts to task to see how it turned out.
Dallas is a dynamic, fast-evolving city whose diversified economy and business friendly policies make it an attractive place for investors and companies. Longtime Dallas developers Lucy Billingsley and Lucy Burns offer insights into the city’s future.
Share these insights from this week’s episode:
- Dallas offers plentiful industrial and multifamily real estate opportunities thanks to its rapid growth and economic diversification.
- Investors and businesses benefit from Dallas' pro-business policies and relatively low tax burdens.
- Demand for convenience and amenities is driving the trend toward master-planned communities that offer live-work-play environments.
- Dallas’s growth hinges on continuing infrastructure investment, including transportation and public services to support its expanding population.
Commercial real estate offers many different career paths. Learning how to overcome challenges and finding the right mentors are key to success in all of them. Trailblazing executives including Laura Clark (Rexford Industrial), Barbara Perrier (CBRE) and Elisabeth Troni (CBRE Investment Management) shared personal anecdotes and sage advice during CBRE’s recent Power of WE conference.
Share these insights on pillars of a successful CRE career:
Lead with integrity:
- Making decisions that may be contrary to your immediate financial gain builds trust and loyal, long-term clients.
Seek out mentors and feedback:
- Mentorship is crucial for career development and informal feedback fosters skill enhancement.
Challenge the status quo:
- Questioning traditional norms can lead to progress and achievement. Say yes to new challenges and opportunities.
Balance flexibility with visibility in the workplace:
- Flexible work arrangements can be beneficial, but being present in your professional environment is also key to advancement.
Favor unity over separation of your work-life:
- Completely separating professional and personal time is hard, whereas embracing work-life unity means emphasizes purposeful engagement while in both spheres.
Mary Ann Tighe, CEO of CBRE's New York Tri-State Region, discusses Manhattan's ongoing transformation. Drawing on decades of commercial real estate deal-making experience, Mary Ann discusses the resurgent office leasing market, office-to-residential conversions and long-term opportunities.
- Anticipated Market Transformation: Investors should prepare for a major shift in New York’s office market, reminiscent of the historic changes that occurred in the 1920s.
- Long-Term Leases: Despite the rise of remote work, many New York City businesses want to sign long-term leases due to the high costs and complexities of space renovation.
- Investment Opportunities: New York has significant opportunities to convert antiquated office buildings into residential or mixed-use properties.
- Government Incentives: Understanding and leveraging government tax incentives can be crucial in making redevelopment projects financially viable.
- Cultural Edge: New York's creative energy and foremost cultural and social amenities remain a strong draw for people, businesses and capital. This enables the City's resilience and continuous evolution.
Over 12 million people a month check The Points Guy for tips on making the most of their travel experiences. Brian Kelly, TPG himself, teams up with CBRE’s Hotel Research lead Rachael Rothman to explore the latest trends in loyalty programs, what hotel brands can learn from airlines and credit cards, and how you can get into that airport lounge.
Insights to Share:
- Loyalty programs are growing in importance to operators of hotels, airlines and credit cards, many of whom have partnered to increase brand awareness and reach.
- The proliferation of loyalty program participation is, in some cases, diluting the benefits, but savvy consumers can maximize points by having flexible travel dates and using websites such as point.me to compare redemption value at different airlines and hotels.
- One way to create brand loyalty is to provide flexibility and a customized experience. Instead of waiting until guests arrive, hospitality brands should reach out in advance and offer access to local guides, spas and restaurants.
Two tech talent experts—New Enterprise Associates’ Darcy Casarella and CBRE’s Colin Yasukochi—discuss where to find highly skilled tech workers, the role of venture capital in shaping tech hubs and AI’s influence on office space demand.
Share these insights from this week’s episode:
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Strategic Location Strategy: Emerging tech markets in the Midwest and Southeast can offer significant cost advantages with their growing tech talent pools.
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AI and Talent Focus: Prioritizing AI capabilities to drive innovation and growth will mean finding and upskilling talent quickly across both tech and non-tech companies.
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Concentrated Venture Funding: Venture firms are creating a network effect by investing in new businesses in traditional tech hubs like San Francisco and Manhattan. Understanding the flow of venture capital can help predict the cities in which real estate demand will grow.
Regional economic development leader Victor Hoskins and CBRE’s Cathy Delcoco discuss Northern Virginia’s opportunities and challenges as well as its thriving real estate market.
Share these insights from this week’s episode:
· Northern Virginia is benefiting from substantial job growth, especially in the technology sector, including AI-related roles. Tech job growth supports demand for office space and housing.
· High-quality, amenity-rich office space is seeing strong demand. Tenants are willing to pay a premium for Class A trophy buildings with amenities, despite downsizing due to hybrid work.
· Older office buildings are being redeveloped into residential units or data centers. This represents an attractive buying opportunity for nimble investors.
Jordan Schnitzer shares the strategies that propelled his family’s business from scrap metals to West Coast real estate powerhouse. Plus insights on building a thriving decentralized business and the benefits of balancing data-informed and gut instinct investment decisions.
Insights to Share:
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Look at competition as well as returns. Schnitzer Properies’ prefers flex-industrial properties over big-box warehouses because there is steady demand and less competition.
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Do more, but be mindful of how much you can do. Jordan Schnitzer refers to his approach as “aggressive moderation.” Over-extending yourself can sacrifice long-term stability.
- Trust your leaders to use their local expertise. Schnitzer Properies embraces a decentralized business model with local teams empowered to make decisions and grow the business.
- Embrace data, but don’t ignore your experience. Utilize a data-driven approach combined with gut instincts to make informed and timely investment decisions.
Clarion Partners’ Drew Fung and CBRE’s James Millon discuss the improvement in market sentiment and a pickup in investment activity amid a brightening interest rate outlook.
Share these insights from this week’s episode:
- The Federal Reserve’s initial rate cut improved market psychology and increased liquidity in the marketplace.
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While banks remain a critical capital source, private debt funds have stepped up their lending at a time when many banks have pulled back.
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Harnessing data and predictive analytics is essential for navigating market complexities and optimizing returns.
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Investors are primarily focused on multifamily, industrial and alternative asset classes, with data centers emerging as a particularly attractive investment opportunity.
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The next 18 months are expected to see a gradual normalization of transaction volumes, with opportunities in both traditional and alternative real estate sectors.
Rob Bernard, CBRE Chief Sustainability Officer, and Miro Sutton, CBRE's new Global Head of Energy and Renewables, discuss the critical role that renewable energy can play in meeting carbon emission-reduction goals and simplify the complexity around implementing and investing in sustainability in commercial real estate.
Share these insights on sustainability and renewable energy:
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Companies should integrate renewable energy and sustainability strategies into their core business plans to remain competitive and resilient.
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The renewable energy market is evolving, with regulatory frameworks playing a significant role. Governments can make it easier to achieve environmental goals by writing clear and understandable regulations.
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Collaboration among technology, business and regulatory bodies can help to drive innovation and advance sustainability initiatives.
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Broader adoption of renewable energy can mean economic and environmental benefits for many companies.
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A holistic approach to sustainability, encompassing everything from energy procurement to building materials, is necessary for long-term success.
Community opposition can thwart the most desirable—and needed—development projects. Connecticut developer Jerry Davis and CBRE’s Jessica Lall offer tips and strategies for marshalling community support for worthwhile projects and overcoming the instinct to “just say no” to new development.
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Engaging the community early and maintaining open lines of communication are crucial for real estate developers to overcome community objections. By involving local stakeholders in the planning process and addressing their concerns, developers can build trust, gain allies and smooth the path for project approval.
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Local governments that adapt regulations to allow for a variety of housing types can ease the "missing middle" problem—affordable housing that falls between single-family homes and large multifamily properties.
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The affordable housing shortage can provide an impetus for regulatory changes and innovative solutions.
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Successful pilot projects can demonstrate how local communities can benefit from new development.
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Collaboration between government and the private sector can advance worthwhile projects that can be derailed by well-intention community opposition.
Office conversions are nothing new in Cleveland where older assets have long been transformed into higher and better uses. Three seasoned professionals shed light on the financial and logistical complexities of conversions, and the importance of public-private partnerships.
Share these Insights on Cleveland Office Conversions:
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Cleveland has a long history of converting older office spaces into different uses, long before it became fashionable.
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The city has a promising future with a growing downtown resident population. Office conversion projects and broader urban re-development plans will support this trend.
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Cleveland’s focus on enhancing its natural assets, like the lakefront, is another factor supporting the city’s revitalization.
Austin has been transformed over the past 20 years. A traditional government and college town has become a top tech hub and a model for developing metros. Heritage Title Company of Austin’s Gary Farmer and CBRE’s Bradley Bailey discuss the city’s ambitions, growth prospects and challenges.
Share these highlights from our conversation about Austin:
- Austin's economy has diversified significantly in the past 20 years, particularly with the growth of the tech, life sciences and automotive sectors.
- Infrastructure improvements, such as airport expansions and major roadway projects, are crucial for sustaining growth.
- Investing in social infrastructure to support students, seniors and everyone in between has been a major focus for Austin.
- The city's young, educated workforce is a major draw for companies, contributing to the rapid growth of Austin's tech sector.
Zoe Hughes of the National Association of Real Estate Investment Managers and David Chang of CoreNet Global highlight the benefits of a symbiotic relationship between real estate investors and occupiers.
Insights to Share:
- Investors and occupiers increasingly have similar priorities, especially with respect to operational efficiency and sustainability.
- Data-sharing between occupiers and investors can enhance asset performance.
- Consistent, open communication is essential for adapting to market changes and meeting the evolving needs of occupiers and investors.
Principal Asset Management’s Rod Vogel, a private equity investor, and Chris Duey, a debt specialist, share different perspectives on the current real estate market and identify sectors where they find common ground.
- Debt and equity investors often see the market differently.
- Rod Vogel, a private equity investor, remains bullish about the long-term.
- Chris Duey, a debt specialist, believes a new credit cycle may be emerging as property values adjust to the current interest rate environment.
- The investors share enthusiasm for data centers, Sun Belt multifamily and selective office investments.
Entrepreneurs Atticus LeBlanc of PadSplit and Christine Wendell of Pronto Housing discuss innovative ways to help address the acute affordable housing shortage. They discuss how new business models, paired with technology, can make housing more accessible and cost-effective for residents and more profitable for property owners.
- Utilizing new business models, coupled with technology, can make affordable housing more accessible and cost-effective.
- Optimizing the use of current housing stock through co-living can help to alleviate supply shortages and improve affordability.
- Using technology to streamline the compliance processes can get qualified residents into affordable housing faster.
CBRE’s Laura O’Brien, Chris Ludeman and Bill Concannon offer sage advice and discuss lessons learned as they wrap up storied commercial real estate careers—a must-listen for anyone interested in seasoned perspectives on our industry’s past, present and future.
Insights to Share:
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From Laura O’Brien: “Mentorship should actually be intentional. If you ask someone in this company to be your mentor, chances are they will say yes, but you have to make the first move.”
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From Chris Ludeman: “Take the work that we have been asked to do very seriously, but never take yourself too seriously.”
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From Bill Concannon: “Commercial real estate is a complex sale and a long cycle. So building trust requires time with people you know face to face.”
Secondary transactions—sometimes called indirect investing—are on the rise as a way to acquire real estate. Evercore’s Jarrett Vitulli and CBRE Investment Management’s Achal Gandhi discuss how these investment vehicles can boost returns at lower risk.
- Secondary transactions are gaining traction as a way to acquire real estate. Often, these transactions offer investors an opportunity to acquire real estate portfolios at a discount, enhancing returns without taking on property-level risk.
- The secondary market for real estate is expanding, driven by the need for liquidity, strategic portfolio management and recapitalization opportunities. Notable opportunities are available in logistics, multifamily and healthcare real estate.
- In today's market, secondary transactions can offer core stabilized assets at discounted rates.
In this episode we explore how government policy affects the housing supply, foreign capital flows, office-to-residential conversion and more with Duane Desiderio of The Real Estate Roundtable and Darin Mellott, CBRE's Head of U.S. Capital Markets Research.
Asia Pacific presents attractive investment opportunities, particularly in the multifamily, hospitality and logistics sectors. KKR’s John Pattar and David Cheong and CBRE’s Greg Hyland discuss capital flows, occupier market fundamentals and the importance of ESG.
Insights to Share:
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Demand for hospitality, multifamily and logistics is growing.
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Office occupiers strongly prefer high-quality, well-managed buildings that follow ESG principles.
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The work-from-home phenomenon did not really impact most countries, so office market fundamentals in most dense cities are strong.
CBRE Global Chief Economist Richard Barkham and Cycle Monitor’s Glenn Mueller share insights on what to expect across real estate sectors in the second half of 2024.
Insights to Share:
· Real estate is a delayed mirror of the economy, says acclaimed forecaster Glenn Mueller.
· Amid an anticipated long, slow recovery, specialized asset types like self storage and data centers are seeing increased demand.
· Demand for real estate is tied closely to employment growth.
· Consumer spending has been resilient, but is showing signs of slowing, and corporate balance sheets remain strong.
CBRE’s Laura O’Brien, Chris Ludeman and Bill Concannon offer sage advice and discuss lessons learned as they wrap up storied commercial real estate careers—a must-listen for anyone interested in seasoned perspectives on our industry’s past, present and future.
Insights to Share:
-
From Laura O’Brien: “Mentorship should actually be intentional. If you ask someone in this company to be your mentor, chances are they will say yes, but you have to make the first move.”
-
From Chris Ludeman: “Take the work that we have been asked to do very seriously, but never take yourself too seriously.”
-
From Bill Concannon: “Commercial real estate is a complex sale and a long cycle. So building trust requires time with people you know face to face.”
Over 12 million people a month check The Points Guy for tips on making the most of their travel experiences. Brian Kelly, TPG himself, teams up with CBRE’s Hotel Research lead Rachael Rothman to explore the latest trends in loyalty programs, what hotel brands can learn from airlines and credit cards, and how you can get into that airport lounge.
Insights to Share:
- Loyalty programs are growing in importance to operators of hotels, airlines and credit cards, many of whom have partnered to increase brand awareness and reach.
- The proliferation of loyalty program participation is, in some cases, diluting the benefits, but savvy consumers can maximize points by having flexible travel dates and using websites such as point.me to compare redemption value at different airlines and hotels.
- One way to create brand loyalty is to provide flexibility and a customized experience. Instead of waiting until guests arrive, hospitality brands should reach out in advance and offer access to local guides, spas and restaurants.
The Francis Scott Key Bridge’s collapse in late March closed down the Port of Baltimore, resulting in the tragic loss of six lives and threatening massive disruptions to U.S. supply chains. Maryland Port Administration’s Jonathan Daniels recounts the Herculean efforts to mitigate the disaster’s worst effects and restart port operations in 11 weeks.
Insights to Share:
- To practice effective crisis management, focus only on what’s important.
- The Port of Baltimore partially reopened in just 11 weeks, well ahead of the 11-12 month timeline some experts predicted.
- The network of East Coast ports has provided flexibility that mitigated the worst impacts on supply chains.
The real estate capital markets can be complex in the best of times and vexing in the worst of times. Lone Star Funds’ Bob Ricci and CBRE’s Tom Rugg share some insights on succeeding in a sluggish time, finding opportunity amid headwinds and where those headwinds have started to ease.
Insights to Share:
- As challenges in the capital markets persist, properties that were financed with heavy leverage may present opportunities.
- Higher interest rates will make rolling over debt a pervasive issue for several years.
- Distress is unlikely to reach the levels of the post-Great Financial Crisis years.
San Francisco has been facing extraordinarily high office vacancy rates since the pandemic. But more recently, the rise of artificial intelligence (AI) has stimulated demand for space and an influx of capital. Real estate investor Glenn Gilmore and CBRE’s Mike Taquino discuss the city’s history of resilience, culture of innovation and greatest opportunities.
Insights to Share:
- Venture capital firms, particularly those focused on AI, are increasingly establishing offices in San Francisco, which is driving demand for office space.
- San Francisco’s well-known headwinds have caused investors to shy away from what could be generational buying opportunities.
- AI is driving significant changes in San Francisco's real estate market, in terms of the types of offices needed and the locations most in demand. AI is also encouraging shorter lease terms, reflecting the fast-moving nature of tech companies.
- San Francisco’s tenants are showing a preference for high-end and creative office space, as well as a preference for sustainability and adaptive reuse.
Belinda Román, 2023’s most accurate forecaster, according to The Wall Street Journal, and CBRE Econometric Advisors’ Dennis Schoenmaker opine on the art, science and technology involved in predicting the ebbs and flows of the global economy.
Insights to Share:
- Belinda Román, Associate Professor of Economics at St. Mary’s University, expects GDP growth of 3% this year.
- CBRE EA’s Dennis Schoenmaker expects GDP to hover around 2%.
- Even with slower economic growth, there will be opportunities in commercial real estate.
- Regional, national and global forecasting requires a deep understanding of the available data.
- In commercial real estate, where information has historically been opaque, future forecasting can be enhanced by AI.
Industrial remains a highly desirable asset class despite a cooling of demand and softened market fundamentals. Prologis’ Melinda McLaughlin and CBRE’s Chris Riley offer insights on the long-term prospects for the sector.
Insights to Share:
- While the last 24 months have seen a slowdown of transaction activity in industrial markets, the long-term prospects remain solid.
- Conversions to industrial are typically viable where land comprises most of the total development costs, which usually are close to densely populated urban centers.
- Manufacturing and warehouse facilities have increased automation, adding technology that enables machinery to adapt to changes in the business.
CBRE Capital Markets specialists offer insights on debt availability, capital flows, sector fundamentals and deal pricing, while our Chief Economist comments on the economic outlook.
Insights to Share:
- Uncertainty about the direction of interest rates continues to hamper commercial real estate investment activity.
- Industrial and multifamily are facing softening fundamentals, but remain historically solid.
- Office continues to be split between the best assets and most of the rest and retail is growing in importance to institutional investors.
- Maintaining strong relationships with lenders is always critical, but especially so now.
Julia Coronado, keen-eyed observer of the economic landscape, shares wide-ranging insights on the economy, monetary policy, commercial real estate and more.
“The macro economy is a lot more resilient to the headlines than what you read every day."
-Julia Coronado
President and Founder, Macro Policy Perspectives &
University of Texas Finance Professor
Insights from the episode:
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Inflation should continue to cool in most countries around the world.
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The neutral interest rate is expected to be higher than the last cycle due to a healthier household balance sheets, supportive fiscal policy and improved productivity.
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Challenged multifamily developers should see some relief in the next few years, as interest rates drop, demand for housing increases and financing conditions improve.
GUEST BIO:
Julia Coronado
President and Founder, Macro Policy Perspectives
Julia Coronado founded MPP because she believes independent research can provide the most objective and relevant analysis to inform decision making in an uncertain world. Julia is a Clinical Associate Professor of Finance at the McCombs School of Business at the University of Texas at Austin. She has more than a decade of experience as a financial market economist including serving as Chief Economist for Graham Capital Management and BNP Paribas, and as a Senior Economist at Barclays Capital. After receiving her Ph.D. in Economics from the University of Texas at Austin, Julia worked for the Federal Reserve Board of Governors in Washington D.C. for eight years where she regularly briefed the Board and contributed to the FOMC forecasts. She is a regular commentator in financial media, including CNBC, Bloomberg, Marketplace, and the Wall Street Journal.
How do you get the most out of a global real estate portfolio? Siemens Real Estate CEO Stephanie Dorsey offers insights on everything from the cost of capital, the flight to green, site selection criteria and return-to-office strategies that benefit everyone.
Insights to Share:
· Siemens is on the leading edge when it comes to attracting talent, sustainability and technology manufacturing.
· Power is becoming an increasingly important consideration in companies’ site location strategies.
· Sustainability is quickly becoming a must-have for occupiers and some, like Siemens, will not lease space from landlords that don’t support their carbon-reduction goals.
Mexico’s industrial real estate market is benefiting from the need for more resilient supply chains. PGIM’s Enrique Lavín, DHL’s Guillermo Espinosa Armendáriz and CBRE’s Yadira Torres-Romero explain the advantages and challenges of nearshoring.
Insights to Share:
- Nearshoring is spurring industrial activity beyond Mexico’s border cities as companies seek inland nearshoring opportunities.
- The lower cost and availability of labor explains why companies have relocated or expanded manufacturing operations in Mexico.
- The cost of capital, even for transactions denominated in U.S. dollars, is lower than in the U.S.
Fried Frank’s Jon Mechanic and Michael Werner—attorneys steeped in the in’s and out’s of New York City dealmaking—share thoughts on the office market, affordable housing, recent legislative changes and much more.
Insights to Share:
- Despite the headlines, there is budding optimism in some New York commercial real estate sectors, particularly Class A office.
- Legislative efforts to promote affordable housing and sustainability are both incredibly important and challenging.
- New York City provides a nexus of talent, amenities and capital that is hard to replicate.
What’s attracting young people, businesses and investment capital to Nashville? Highwoods’ Alex Chambers and CBRE’s Elizabeth Goodwin explain how the Music City has created a cool culture.
Insights to Share:
· Nashville has attracted talent and businesses due to its affordability and high quality of life.
· Nashville’s local government has fostered the city’s growth by investing in entertainment and sports, prompting a surge in related industries, as well as tech and retail.
· With growth poised to continue, driven by the influx of new residents, Nashville offers an opportunity for private investors to buy Class B office properties.
With the U.S.’s fourth-strongest labor market and massive live-work-play appeal, Tampa, Florida is one of the country's hottest real estate markets according to a recent Wall Street Journal analysis,
Tampa investor/developer Darryl Shaw and CBRE’s Mike DiBlasi explain how the city has become a magnet for institutional capital, expanding employers and top talent and what other mid-size markets can learn from it.
Insights:
- Developers who want to build in culturally important areas need strong partnerships with the local community leaders and municipal government.
- Tampa’s historic Casa Ybor development demonstrates what’s possible when a long-term vision is coupled with consistent population growth.
- Tampa is experiencing a surge of development across commercial real estate sectors as a result of public-private investment in their downtown waterfront.
In a wide-ranging discussion, RXR CEO Scott Rechler opines on everything from the future of cities to leveraging AI in decision-making to office-to-multifamily conversions.
Insights to Share:
· Commercial real estate investors can find opportunity in a higher-cost environment.
· The outlook for office is brightest in areas where talent wants to live, work and play.
· RXR uses market intelligence combined with data to inform their strategies. Key data sources include VTS, cell phone activity, AI and predictive analytics.
“What Do You Want to Do Before You Die?” asks celebrity author Ben Nemtin in his best-selling book of 100 bucket list items. Ben shares thoughts on finding your purpose, protecting your mental health and achieving your most ambitious goals.
Insights to Share:
· Overcome fear. People who avoid taking risks because they are afraid to fail can often fall short of their goals. Empowering people to be their true selves is a critical component of a strong work culture.
· Set ambitious goals. People who set ambitious goals for themselves are more likely to be successful in careers and life.
· Take action. It is not enough to simply set goals; people need to act on them. Small steps forward create positive momentum.
Real estate investment markets are stirring after an extended pause, and capital may be ready to come off the sidelines. KKR’s Roger Morales and CBRE’s Kevin Aussef share insights on what assets, strategies and markets stand to benefit from an expected pick up in commercial real estate activity later this year.Real estate investment markets are stirring after an extended pause, and capital may be ready to come off the sidelines. KKR’s Roger Morales and CBRE’s Kevin Aussef share insights on what assets, strategies and markets stand to benefit from an expected pick up in commercial real estate activity later this year.
Student housing has become a darling of the multifamily asset class. Real estate investor Brian Dinerstein and CBRE’s Jaclyn Fitts explain how the sector has bounced back from pandemic-era challenges and offers enticing opportunities for investors.
Insights to Share:
- Student housing has been better insulated against rising interest rates than conventional multifamily housing.
- Large public colleges and universities provide the best environment for institutional grade multifamily student housing.
- Student housing now is a much different product than what was developed two decades ago.
Growth strategist Rebecca Homkes delivers insights and ideas for companies navigating a challenging economic landscape. With wit and real-world examples, she challenges leaders to think of uncertainty as a neutral and temporary state – and where that line of thinking can lead.
Insights to Share:
· Survive, Reset, Thrive is a playbook for fortifying companies through times of change and challenge.
· Market uncertainty is neither good nor bad. It is a neutral fact to be dealt with.
· Companies who are willing to think creativelyare more likely to emerge from challenges successfully.
What’s the best way to prepare for a thriving commercial real estate career today and in the future? Leaders of real estate programs at the University of North Carolina, Ohio State and Clemson enlighten us.
Key Takeaways:
• Learn to be resilient and flexible.
• Interdisciplinary approaches provide a broad real estate education.
• There is a history of collaboration between higher education systems and the commercial real estate industry.
• Experiential learning is an effective way to build skillsets. You’ve got to do the thing!
This Episode's GuestsDustin Read, Ph.D.Director, Master of Real Estate Development Program, Clemson UniversityDustin leads the Master of Real Estate Development Program at Clemson University. Previously, he was involved in leadership in the real estate programs at Virginia Tech and the University of North Carolina at Charlotte. Some of his research interests include affordable housing, land use policy, and public-private partnerships. Dr. Read is a NAIOP Research Foundation Distinguished Fellow, an inductee into the Institute of Real Estate Management’s Academy of Authors, and a seven-time recipient of honors from the American Real Estate Society for his contributions to real estate theory and practice.
Donald D. SheetsExecutive Director, The Ohio State University Center for Real EstateDonald has over two dozen years of leadership experience on Wall Street across several investment management firms, one of which he founded nearly a decade ago and recently sold. In addition to leading the Center for Real Estate at The Ohio State University, he also is on the faculty at Harvard University and serves as Chair of the Harvard Alumni Real Estate Board. His predecessor faculty appointments were at Columbia University, New York University and Auburn University.
Jeff TuckerExecutive Director, Wood Center for Real Estate Studies, University of North Carolina Kenan-Flagler Business SchoolJeff is new to his role leading the real estate program at the University of North Carolina, having started in mid-2023. Tucker has more than 20 years of experience in private equity, with the last 16 focused on real estate. He most recently served as co-chairman and CEO of Century Bridge Capital, a firm based in Beijing and Dallas that is focused on middle-class residential developments in China.
Deepki CEO Vincent Bryant and CBRE’s Emma Buckland share insights on how data analytics helps property owners attract tenants, meet sustainability goals and enhance asset values.
Insights to Share:
- Property management data has become much more standardized and transparent in the last ten years.
- CBRE’s strategic partnership with Deepki helps property management teams support investors’ sustainability goals.
- Meeting sustainability objectives can strengthen asset value and is strategically smart amid the growth of regulations.
Despite widespread adoption elsewhere in the world, modular construction has been slow to take hold in the U.S. Assembly OSM CEO Andrew Staniforth makes a compelling case for the construction technique’s affordability, sustainability and speed—as well as reasons why the practice is still in its infancy domestically.
Insights to Share:
- Modular construction is an option that provides a compelling combination of affordability, sustainability and speed.
- A tight labor market and strong real estate fundamentals make modular construction more viable.
- Affordable housing is a challenge that will require non-traditional thinking—like modular construction—to solve.
“Naturally occurring affordable housing is just an Econ 101 problem like supply and demand. The more housing that you build, it will lower the price. And I think as we start getting to scale, we hope to be able to move the market.”
Andrew Staniforth
CEO
Assembly OSM
One’s an office occupier—Orrick’s Laura Saklad—and the other’s an office investor—CBRE Investment Management’s Julie Ingersoll. From opposite sides of the table, they discuss how property investors and occupiers can work together to facilitate return-to-office strategies and make the workplace a magnet for talent attraction and retention.
Insights to Share:
· Successful office occupancy strategies are about balancing employee flexibility with collaboration and professional development opportunities.
· The surrounding neighborhood is an important amenity for office space.
· The pandemic has brought landlords and tenants closer together, changing the relationship from adversarial to a partnership.
Laura Saklad
Chief Operations Officer
Orrick
Laura is responsible for leading and directing all operational functions of Orrick, a law firm with more than 25 global offices. She works closely with the Orrick’s Board and Management Committee to execute the firm’s strategy.
Julie Ingersoll
Chief Investment Officer
Americas Direct Real Estate Strategies
CBRE Investment Management
Julie joined the firm in October 2021 from CPP Investments, an approximately $500 billion Canadian Pension Plan, where she was Managing Director overseeing portfolio strategy design and execution for 50 million square feet of U.S. residential and retail investments. At CPP, Julie focused on core-plus, value-add and development risk profiles, leading efforts across the investment lifecycle from identifying new strategies, originating and structuring joint ventures, acquisitions, asset management and dispositions.
What commercial real estate stories will make headlines this year? Diana Olick knows. The CNBC reporter talks interest rates, work from the office, the future of cities, climate strategies and more.
Insights from CNBC’s Diana Olick:
- One solution to the housing affordability crisis is the addition of supply at scale.
- Trends in climate and real estate are interwoven.
- For many people, renting a home makes more financial sense than purchasing.
- Some employees enjoy the dynamic energy of working in the office, much like the vitality of living in the city. The successful office investor will design workspaces to encourage collaborative productivity.
What will the future office look like? Ask an interior designer. ThinkLab’s Amanda Schneider offers insights on how organizations can use design to support everything from hybrid work strategies to employee health and safety and from sustainability to portfolio optimization.
Insights to Share:
- Hybrid work has brought interior design innovation to the forefront of conversations around productivity and the value of the office.
- Many organizations are seeking intelligent ways to incorporate technology into the workplace design, and even their furniture, to measure their occupancy and effectiveness.
- People do not want to come into the office and do the same work they do at home, so office design must account for changed workplace uses.
CEOs of The Office Group and Industrious discuss the flex space office market in the wake of WeWork’s high-profile bankruptcy.
Insights to Share:
- Despite recent headlines, the future of flex office is bright.
- Flex office space within the building stack can enhance asset value.
- Collaboration spaces and individual private spaces, like pods or booths, have gained favor among flex-office occupiers. Large, open floorplans with rows of desks have drawn less interest.
U.S. Air Force veteran and consultant DeDe Halfhill discusses effective leadership qualities, debunks management myths and shares tactics for team-building and improving productivity.
Insights to Share from DeDe Halfhill:
· Creating a culture of open feedback is incredibly important for those in leaderships roles but often hard to achieve given the power differential with subordinates.
· Empathy is critical to good leadership.
· The effective integration of diversity is a critical skill for future leaders.
With many commercial real estate investors in a wait-and-see mode, Rob Finlay, author and founder of Thirty Capital, expounds on opportunities to create value using data analytics to optimize property performance.
Insights to Share from Rob Finlay:
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Waiting for rates to drop is not a good strategy for real estate investors. Instead, they should focus on managing their assets and debt effectively.
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Innovation will be a key to success in an environment featuring sustained higher interest rates.
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Both human intelligence and Artificial Intelligence play a role in helping investors to understand—and meet—market needs.
In a bonus episode from our 2024 Outlook, Chief Economists Jim Costello (MSCI Real Assets) and Richard Barkham (CBRE) respond to live audience questions about the 2024 commercial real estate outlook.
Our annual must-listen episode. Chief Economists Jim Costello (MSCI Real Assets) and Richard Barkham (CBRE) share their predictions for the global economy, interest rates, capital markets and investment opportunities across commercial real estate sectors.
THIS WEEK'S GUESTS
Richard Barkham
Global Chief Economist, Head of Global Research & Head of Americas Research, CBRE
Richard Barkham leads a global team of nearly 600 research experts who help CBRE’s clients understand the forces shaping the commercial real estate industry. One of the world’s leading real estate economists, Richard combines the theoretical framework of an academic with hands-on experience in development to deliver actionable insights for real estate investors and occupiers. A frequent source for both clients and journalists navigating moments of economic volatility, he is particularly interested in the role government stimulus plays in long-term economic recoveries.
Jim Costello
Executive Director MSCI Research
Jim is chief economist on the MSCI Real Assets team and is based in New York. He is the principal author of the US Capital Trends report series and a frequent speaker at commercial real estate conferences. At Real Capital Analytics, which MSCI acquired in 2021, Jim was a leader for analysis across the commercial property universe. Jim also spent two decades at Torto Wheaton Research (now known as CBRE Econometric Advisors) working on issues of real estate risk and forecasting. He recently finished serving a term on the Commercial Board of Governors of the Mortgage Bankers Association and is currently a member of The Counselors of Real Estate.
As you make big plans for 2024, here's one of our most popular episodes from the past year featuring author and professor Bent Flyvbjerg talking about how he and his team studied more than 16,000 projects—from skyscrapers to Oscar-winning films—to learn the secrets of their success, and the common thread in their failures.
THIS EPISODE'S GUEST:
Bent FlyvbjergProfessor, Oxford University and IT University of CopenhagenBent Flyvbjerg is the first BT Professor at Oxford University and the VKR Professor at the IT University of Copenhagen, an economic geographer, and “the world’s leading megaproject expert,” according to global accounting network KPMG. He has consulted on over one hundred projects costing $1 billion or more and has been knighted by the Queen of Denmark.
2023 was a challenging year for commercial real estate, driven by sharply rising interest rates, economic uncertainty and continued slow progress on return-to-office plans. Join us as we look back at everything from market conditions to labor issues to office amenities to emerging technologies and more.
Insights to Share:
· The commercial real estate market in 2023 was challenged by sharply rising interest rates, but fundamentals largely held up, aside from the office sector.
· Technological advancements, particularly artificial intelligence (AI), played an increased role, especially in Data Centers but elsewhere as well.
· U.S. seaports made strides in solving pandemic-era bottlenecks and other challenges.
Mixed-use real estate can be thought of as several discrete projects—executed in parallel—within a block-by-block area, to create a whole that’s greater than the sum of its parts. Three seasoned CRE professionals, Katie Grissom of Nuveen, Sondra Wenger of CBRE Investment Management and Colin Yasukochi of CBRE, discuss the metrics that matter most when measuring synergies across residential, retail, hospitality, office, medical and entertainment.
Insights to Share:
- Mixed-use real estate is key to creating vibrant neighborhoods.
- Strong, vital neighborhoods are a critical amenity that helps office tenants attract the most productive talent.
- Investing in mixed-use environments is a key way to help differentiate investment strategies.
Kimco Realty’s (NYSE: KIM) President and Chief Investment Officer Ross Cooper says that retail and mixed-use property owners and tenants have become partners. In a wide ranging discussion he talks about the challenges facing real estate investors today, the evolution of the shopping experience and the possibilities for mixed-use properties.
SOME KEY INSIGHTS:
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Taking on equity partners through joint ventures can offset high capital costs and support diversification efforts.
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For e-commerce companies, a physical retail presence can often complement digital platforms.
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Now is the time to explore investment opportunities outside conventional real estate, such as infrastructure projects or green bonds targeted at energy-efficient construction.
Marc Lore helped to revolutionize how consumers purchase goods—everything from diapers to office supplies. Now he wants to revolutionize the restaurant and food delivery business with his newest venture, a company called Wonder. Lore discusses his vision for Wonder, which combines ecommerce with traditional restaurant and real estate strategies.
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The food delivery market has boomed to about $100 billion today just in the U.S., according to Marc Lore, but kitchens look much the same as they did 100 years ago.
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Wonder is a unique restaurant brand with a founder who sees tremendous growth opportunity in combining brick-and-mortar dining and delivery.
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The ability to deliver a tremendous variety of “fine-fast” food quickly is a differentiator for Wonder.
Rob Lilwall was a high school teacher who, in need of a new direction, decided to walk across Siberia. This was the start of an avocation that he parlayed into a profession. Rob’s story is about conquering fears, overcoming setbacks, building inner resilience and reaching for higher goals, whether it’s climbing mountain or closing real estate deals.
“One of the great things about an expedition, which just simplifies life so much, is you have one very, very clear goal.”
ABOUT THIS WEEK'S GUEST
Rob Lilwall, Adventurer
Rob started his career as a high school geography teacher in England, but has transitioned into a career of adventuring and motivational speaking. His expeditions include a three-year expedition cycling from Siberia to London, a solo walk across the Taklamakan Desert and cycling across the U.S. Across his adventures, he has learned that our abilities are not fixed, and that we can grow in many ways, including to become more positive, courageous and resilient, especially when put in positions outside of our respective comfort zones.
One’s an office occupier—Orrick’s Laura Saklad—and the other’s an office investor—CBRE Investment Management’s Julie Ingersoll. From opposite sides of the table, they discuss how property investors and occupiers can work together to facilitate return-to-office strategies and make the workplace a magnet for talent attraction and retention.
Insights to Share:
· Successful office occupancy strategies are about balancing employee flexibility with collaboration and professional development opportunities.
· The surrounding neighborhood is an important amenity for office space.
· The pandemic has brought landlords and tenants closer together, changing the relationship from adversarial to a partnership.
Laura Saklad
Chief Operations Officer
Orrick
Laura is responsible for leading and directing all operational functions of Orrick, a law firm with more than 25 global offices. She works closely with the Orrick’s Board and Management Committee to execute the firm’s strategy.
Julie Ingersoll
Chief Investment Officer
Americas Direct Real Estate Strategies
CBRE Investment Management
Julie joined the firm in October 2021 from CPP Investments, an approximately $500 billion Canadian Pension Plan, where she was Managing Director overseeing portfolio strategy design and execution for 50 million square feet of U.S. residential and retail investments. At CPP, Julie focused on core-plus, value-add and development risk profiles, leading efforts across the investment lifecycle from identifying new strategies, originating and structuring joint ventures, acquisitions, asset management and dispositions.
The rapid growth of digital infrastructure like AI, edge computing, virtual reality and private clouds is making data centers—once an underappareciated niche—into an increasingly important commercial real estate sector. DigitalBridge CEO Marc Ganzi and CBRE’s Pat Lynch share insights on this burgeoning market.
ABOUT THIS WEEK'S GUESTS:
Marc Ganzi
CEO
DigitalBridge
Marc C. Ganzi is the Chief Executive Officer at DigitalBridge and has been an investor and operator in the digital infrastructure sector for more than 25 years. Marc has led DigitalBridge’s transformation to become a leading global manager of digital infrastructure, managing over $70 billion in assets under management across the digital ecosystem, including cell towers, data centers, fiber, small cells and edge infrastructure.
Pat Lynch
Global Head of CBRE Data Center Solutions
Pat Lynch, Executive Managing Director for CBRE’s Data Center Solutions, acts as an advisor, advocate and partner in navigating the dynamic technology needs for his clients. Pat and his team of professionals develop custom mission-critical strategies that address specific industry challenges and help meet business objectives. Through creative problem solving and transaction structuring, clients experience improved reliability and expense management, and operational efficiencies.
KEY TAKEAWAYS:
- Digital infrastructure is an estimated $13 trillion market, according to DigitalBridge CEO Marc Ganzi; leasing and licensing agreements for fiber space resemble real estate leases.
- Demand for data centers is significantly outstripping supply, creating opportunities for expansion in emerging domestic and international markets.
- The industry is grappling with sustainability issues, particularly the effects of heavy power and water usage. This is driving a focus on renewable resources.
- Ganzi notes the next big trend in digital infrastructure could be network virtualization, moving toward software-defined infrastructure. One manifestation of this is the growth of private clouds, where organizations have better security and control than in the public cloud.
The leaders of two of America’s key seaports—Gene Seroka of the Port of Los Angeles and Barbara Melvin of South Carolina Ports—discuss lessons learned from the pandemic and what resurgent trade activity augurs for supply chains and industrial & logistics real estate investors and occupiers.
ABOUT THIS WEEK'S GUESTS
GENE SEROKA is the Executive Director of the Port of Los Angeles, the busiest container port in North America. Confirmed by Los Angeles City Council in June 2014, the Port has experienced a series of historic, record-breaking performances since his appointment. Since the pandemic-induced buying surge generated by American consumers in the second half of 2020, the Port of Los Angeles has eclipsed multiple monthly cargo records and recorded eight out of 10 highest-performing quarters in its 115-year history. The Port set two new milestones for the Western Hemisphere in June 2021 as the first port to process 10 million Twenty-Foot Equivalent Units (TEUs) in a 12-month period and in May 2021 the first port to process 1 million TEUs in a single month. Seroka received the esteemed Stanley T. Olafson Award from the Los Angeles Area Chamber of Commerce in 2023, recognizing his work in the world trade industry and leadership of the nation’s busiest container port.
BARBARA MELVIN is the sixth leader in the history of the port and the first woman to lead a top 10 U.S. operating container port. During her more than 20 years with SC Ports, Melvin has held several senior leadership positions, including senior vice president of operations and terminals; senior vice president of external affairs; and vice president of government relations. In addition to overseeing numerous infrastructure projects, Melvin served as the lead staff person on the Charleston Harbor Deepening Project, which is on track to being the deepest harbor on the East Coast at 52 feet this year.
Commercial Real Estate insights at https://www.cbre.com/TheWeeklyTake
Oscar Munoz, former CEO of United Airlines, and Sol Trujillo, Chairman of Trujillo Group Investments, share their unique experiences on business transformation, honing leadership styles and climbing the corporate ladder while embracing their Hispanic heritage.
Blackstone's Chief Technology Officer, John Stecher and CBRE's Chief Data & Technology Officer, Sandeep Davé join The Weekly Take to explore the extraordinary power and promise of technology—from AI to PropTech and more—on commercial real estate.
Futurist Jacob Morgan returns to discuss how leading teams with vulnerability can increase productivity, build relationships and achieve organizational transformation. Morgan’s new book, Leading with Vulnerability—filled with lessons drawn from interviews with more than 100 CEOs—explains the difference between being weak, being vulnerable and leading with vulnerability.
Siting a manufacturing plant or warehouse is a supreme challenge in today’s economy. TreeHouse Foods’ David Varalli and CBRE’s Seth Martindale and A.J. Magner offer insights on balancing infrastructure, labor and resource availability, automation and costs in site selection and deciding whether to lease or own.
The competition to attract and retain skilled labor has intensified, but what if your best candidates never know about your business? Project Destined’s Cedric Bobo and CBRE’s Toya Everett discuss how they are increasing awareness of commercial real estate careers—particularly in underrepresented communities—and creating more grassroots training and mentorship.
As the global capital markets wait for asset repricing and interest rates to peak, global investment management firms like PGIM see opportunities in sectors such as multifamily, industrial and retail. PGIM Real Estate’s Cathy Marcus offers insights on capital flows.
On this episode, three retired military officers—Hiring Our Heroes’ Adam Rocke, Cleveland Clinic’s Pat Rios and CBRE’s Michelle Butters—discuss how veterans can help companies overcome skilled labor shortages and share advice on transitioning from military to civilian life.
Melinda Richter, Johnson & Johnson’s Global Head of Innovation - JLABS, discusses finding, funding and incubating startups with expert commercial real estate market and Life Sciences sector commentary from CBRE’s Matt Gardner.
CBRE’s Office Occupier Sentiment Survey provides current insights on how companies are approaching in-office and hybrid work. CBRE’s Global Occupier Thought Leader Julie Whelan discusses key findings and shares thoughts on several companies’ return-to-office strategies.
Are we through the worst of the downturn? CBRE Global Chief Economist Richard Barkham offers insights on the outlook for the rest of 2023 and beyond, and CBRE Research’s sector specialists chime in with commentary from last week’s Midyear Global Real Estate Market Outlook.
The end of the pandemic and relatively low retail availability have rewritten the “Malls Are Dead” narrative. So asserts Tom O’Hern, CEO of Macerich, a REIT with 47 million sq. ft. of regional town centers. He joins Spencer Levy to discuss how the best malls are succeeding by reimagining their tenant mix and offering shoppers new experiences.
In this episode of The Weekly Take, PIMCO’s John Lee and CBRE’s Chris Ludeman join Spencer Levy to discuss the current state of the capital markets, the impact of the Federal Reserve's continued interest rate hikes and potential opportunities amid uncertainty.
What major forces will influence the future of commercial real estate? Bank of America’s Global Strategist Haim Israel offers insights on shifting demographics, technology, sustainability and the pandemic’s lasting effects.
The need for affordable housing is acute—with millions of units required to meet demand. Institutional investors are taking notice. Nuveen’s Nadir Settles and CBRE’s Armand Tiberio offer insights on how the sector’s strong fundamentals and the tax credits available can benefit communities as well as investors.
Want a more engaged, productive workforce in the age of hybrid work? The key is rethinking the office with new design approaches, flexible space and an abundance of practical amenities. So say three workplace strategy experts—Industrious CEO Jamie Hodari and CBRE’s Lenny Beaudoin and John Stephens—in a discussion about the future of cities.
Many real estate investors are favoring retail right now. We caught up with DLC’s Adam Ifshin—along with CBRE’s Brandon Isner and Chris Decouflé— at the ICSC conference to find out why open-air retail has such compelling allure.
Build-to-Rent communities are sprouting rapidly, particularly across the Sun Belt. ResiBuilt Homes’s Jay Byce and CBRE’s Michael Paul discuss why more and more investors and residents are attracted to the sector.
StripMallGuy (@realEstateTrent) was born two years ago when a real estate professional was looking for a new way to expand his network and his business. Today, the anonymous account is one of the most widely followed real estate handles on Twitter. We caught up with StripMallGuy at ICSC, and he shared insights on using his online presence to create a brand, build relationships and uncover business opportunities.
Oxford professor Bent Flyvbjerg and his team studied more than 16,000 projects—from skyscrapers to high-speed rails to Oscar-winning films—to learn the secrets of their success, and some failures.
Pensford Financial’s JP Conklin and CBRE’s Kelli Carhart dive deep into the debt capital markets with thoughts on hedging strategies and other valuable insights.
Walton Street Capital’s Federico Martín del Campo and CBRE’s Lyman Daniels explain why Mexico has seen an influx of international capital, particularly into its robust industrial and hotel sectors, thanks to its proximity to the U.S. and other advantages.
White Castle is a staple of popular culture, appearing in everything from Beastie Boys lyrics to “Harold & Kumar’s” eponymous film. CEO Lisa Ingram offers insights on how the century-old, family-owned company—inventor of the slider—determines where and when to open new Castle locations.
Author and Columbia University professor Hitendra Wadhwa offers insights on how business leaders can inspire people and organizations to live and work with purpose.
When EDENS, the retail real estate owner, operator and developer, evaluates a location, it starts with a simple question:“What will inspire the community?” CEO Jodie McLean, architect of the community-minded approach, offers insights on the art and science of understanding markets, people and retail placemaking.
Want a thriving city? Build. So says Harvard urban economist Ed Glaeser, who talks about why cities remain a magnet for talent and how they can improve affordability.
While many retailers were shuttering stores during the pandemic, menswear retailer Psycho Bunny took the opposite approach. Chief Development Officer Kenny Minzberg and CBRE’s Drew Shaul discuss Psycho Bunny’s strategy to aggressively add brick-and-mortar stores to their wholesale and e-commerce ecosystem.
Wellbeing has become increasingly important in return-to-office strategies. Delos’ Paul Scialla and Brookfield Properties’ Brian Pagac offer insights on how people, companies and buildings benefit from wellness initiatives and WELL certification.
Investing in commercial real estate always entails a complex mix of science and art. FD Stonewater principal Jeff Toporek and Continental Realty Corp CEO JM Schapiro share their secrets for prudently raising capital and adroitly putting it to work at a time of high market uncertainty.
Whitney Johnson, author and leadership development consultant, explains why disruptive innovation is key to staying ahead of trends, and how individuals and organizations can embrace change and challenge the status quo.
Carim Khouzami, CEO of Baltimore Gas & Electric, on the cleaner, more efficient future of energy.
Haworth CEO Franco Bianchi shares how his company uses modern design to craft innovative workspaces that enhance productivity, create culture and attract and retain talent.
As businesses evolve their workspaces, construction projects must meet modern design needs to boost collaboration amid rising costs. Reidy Contracting Group’s Daniel Monteiro and CBRE’s Nic McNamara point the way.
Ford, the iconic automaker, is putting location strategy and employee experience to work to aid Detroit’s renaissance. Ford Land’s CEO Jim Dobleske and Michigan Central Innovation District’s CEO Josh Sirefman offer insights on driving productivity, innovation, collaboration and adaptive reuse in the Motor City.
Sports can teach business a lot about turning a staff into a team and promoting a culture that helps everyone thrive. In this episode, CBRE’s Peter Stewart, Nicole Levenson and Hugues Levis share thoughts on how athletics can help to build winning teams, the power of perseverance and the benefits of camaraderie.
You don’t need to be a scientist to unlock the insights in your data. In fact, DataCamp’s Maggie Remynse and CBRE’s HoChun Ho say the secret to using data is hard-earned industry experience.
Acknowledging gender differences can lead to a better culture and improved company performance. So asserts Barbara Annis, CEO of Gender Intelligence, who shares bold ideas on how women and men can work and win together.
Today’s Philadelphia story features a new $1.3 billion arena coming to downtown. This will mean more amenities, a more vibrant night life and more capital for a city that is already high on investor wish lists. Campus Apartments CEO David Adelman and CBRE’s Spencer Yablon offer insights on the City of Brotherly Love.
Many people are eyeing outdated office buildings as a way to address the housing shortage. But office-to-apartment conversions can be tricky. Victrix’s Anoop Davé and Tim Gordon, along with CBRE’s Steve Timmel, discuss how they are making conversions work.
What’s in store for commercial real estate in 2023? Find out what Byron Carlock, PwC’s U.S. Real Estate lead, and Richard Barkham, CBRE’s Global Chief Economist, think.
As the curtain closes on 2022 and opems on a new Broadway season, The Shubert Organization’s Julio Peterson and CBRE’s Mary Ann Tighe join Spencer Levy to discuss the Times Square theater district’s central role in another New York City comeback. Enjoy this encore presentation of one of our favorite episodes of '22
Commercial real estate had its share of memorable moments this year: return-to-office and hybrid work plans, the workplace as a talent magnet and navigating an economic recovery that’s likely fading toward recession. Spencer Levy revisits the highlights of 2022 and offers a look ahead to 2023.
Among the nation’s premier live-work-play cities, Denver’s near the top. ULI Colorado’s Rodney Milton and CBRE’s Katie Kruger join Spencer Levy to share a bird’s eye view of the Mile High City’s success story.
Retail banking is undergoing a transformation. Workplace design experts from Fifth Third Bank offer insights on how the modern bank is reimagining its experience for customers and employees, everything from gamification of wellness benefits to bespoke scents and atrium music.
Southern California has more industrial real estate than most countries. How will a changing economy affect a huge market that today has historically low vacancy and diminishing supply? Rexford Industrial’s Laura Clark and CBRE’s Barbara Perrier offer insights.
Multifamily investors need data to measure their social impact and renters need a way to build credit. Esusu’s Samir Goel, Kayne Anderson’s Amanda Nunnink and CBRE’s Chelsea Cutler join Spencer Levy to offer insights on proving and improving equity, sustainability and resilience.
As the curtain rises on a new Broadway season, The Shubert Organization’s Julio Peterson and CBRE’s Mary Ann Tighe join Spencer Levy to discuss the Times Square theater district’s central role in another New York City comeback.
The pandemic brought leisure travel to a near-standstill, but short-term rental demand proved resilient. AirDNA’s Scott Shatford and Jamie Lane and CBRE’s Rachael Rothman explain the sector’s efforts to improve data collection and insight and how short-term rentals appeal to visitors.
What opportunities do global investors see in real estate? International investor Michael Smith of Mapletree joins Spencer Levy to share insights on the markets and sectors he finds most attractive.
Industrial real estate remains one of the best-performing asset classes. Link Logistics’ Nick Pell and CBRE’s David Murphy join Spencer Levy to discuss supply chain trends and what they portend for industrial demand.
In recognition of Hispanic Heritage Month, Clarion Partners’ Pedro Niño and CBRE’s Armando Nuñez and Nellie Cruz join Spencer Levy to offer perspectives on their workplace experiences and the importance of diversity and share tips for people at every stage of a career.
Walgreens’ Chris Noble and CBRE’s Maury Vanden Eykel join Spencer Levy to offer insights on how the pharmacy has evolved from a corner drugstore to a healthcare stalwart with investment-grade credit, a compelling brand story and scientific innovation.
The Real Estate Roundtable’s Duane Desiderio and CBRE’s Matt Werner join Spencer Levy to analyze what the new federal law—which features incentives designed to boost green energy—means for the buildings where we work, shop and live.
Chile has become one of the most attractive institutional investment markets in Latin America over the last 20 years. Greystar’s Tom Livelli and CBRE’s Nicolas Cox and Tim Gifford join Spencer Levy to discuss the business climate and real estate opportunities in Chile.
Capital remains available for commercial real estate, albeit with tighter underwriting and increased selectivity about asset quality, type and location. Val Achtemeier joins CBRE global capital markets leaders to assess the risk and opportunities in the debt market.
With Labor Day nearly here, two labor experts—Cornell University’s Alexander Colvin and CBRE’s Chris Volney join Spencer Levy to offer insights on how companies are shifting their hiring, employee retention and location strategies in the competition for the best talent.
DLP Capital, a workforce housing investor, has new ideas for measuring productivity and hiring and managing talent. Founder Don Wenner and Claudia Schiepers join Spencer Levy to offer insights on growing a successful business.
The Resmark Companies’ Ziv Cohen and CBRE’s Roland Merchant join Spencer Levy to offer insights on what’s next for residential development.
What’s the outlook for the second half of 2022 and beyond? CBRE’s Mike Watts and Spencer Levy take a deeper look at the economic and real estate sector insights shared during CBRE’s Mid-Year Global Outlook webcast.
Author and futurist Jacob Morgan joins Spencer Levy for a deep dive into business leadership, corporate culture, employee experience and the future of work.
Inflation, supply chain disruptions, labor shortages, rising energy prices and stricter regulations are changing the game for the construction industry. CNY Group’s Ken Colao and strategist Dr. Rebecca Homkes discuss the best approaches to managing projects through uncertainty.
Networking is an essential—though often neglected—cornerstone of business relationships. In a special episode recorded at the CBRE Women’s Network conference, CBRE leaders explain how to build a robust and authentic network at every stage of your career.
What will the future of office work look like? Commercial real estate insiders offer their latest thinking on evolving return to office plans.
With a real estate and logistics strategy predicated on buying local, Sprouts is reinventing the grocery sector. Sprouts’ Dave McGlinchey and CBRE’s Brandon Famous discuss the implications for grocery-anchored retail centers and how landlords and owners can attract today’s discerning shoppers.
How’s the future of work taking shape? What’s next for New York’s office market? Citi’s Linda Foggie and CBRE’s Bob Alexander join Spencer Levy to offer insights on the strategies, technologies and amenities attracting workers back to the office.
The Weekly Take traveled to Las Vegas where ICSC CEO Tom McGee and CBRE’s Bill Wright offered insights on the implications of retail’s evolution for consumers, real estate investors and retailers.
CBRE’s CEO offers lessons on leadership, including thoughts on hybrid work, the future of the office and resilience during the pandemic. He also touches on his career evolution as he joins Spencer Levy on The Weekly Take to celebrate 100 podcast episodes.
LBX Investments’ Robert Levy and CBRE’s Chris Decouflé join Spencer Levy to offer insights on the retail real estate sector and which property types are most attractive.
With rising inflation and the Fed tightening monetary policy, investors and occupiers have questions about the impacts on the macro economy, capital markets and key real estate asset classes. Get insightful answers from CBRE experts.
Carla Harris joins The Weekly Take to offer tips and insights on getting ahead in business—from relationship building to seizing opportunity to opening doors more widely to people of all backgrounds and experiences.
Work from anywhere is here to stay, CBRE’s latest Occupier Sentiment Survey confirms. Economist Steven Davis and CBRE’s Julie Whelan join Spencer Levy to explore what dynamic work arrangements mean for office occupancy strategies. Pt. 2 of The Weekly Take’s series on the Future of Office and Hybrid Work.
A legacy of the pandemic is hybrid work. Economist Steven Davis and CBRE’s Julie Whelan join Spencer Levy to offer insights on what’s next for the workplace and how are companies are approaching it.
With Earth Day approaching, CBRE’s Global Chief Economist Richard Barkham and Chief Responsibility Officer Tim Dismond provide fresh perspective on environmental sustainability, and we hear from recent guests who shared insights on this topic.
Futurist Erica Orange joins Spencer Levy to offer insights on what’s driving new ways of working and strategies to future-proof commercial real estate and improve resilience.
What’s the secret to multifamily’s continued success? Camden Property Trust CEO Ric Campo and CBRE’s Matt Vance join Spencer Levy to offer insights on multifamily investment, adaptive reuse, purpose-built development and more.
Dr. Parag Khanna joins Spencer Levy to explore what’s next for the future of work, how businesses can foresee where people will live in the future and the effects of technology, fiscal policy, climate and culture in a globally connected world.
What country had the fastest-growing economy in the developed world in 2021? Ireland. In this episode, IDA Ireland’s Denis Curran, Kennedy Wilson’s Bill McMorrow and CBRE’s Marie Hunt offer insights on how the small island nation weathered the pandemic exceptionally well and the factors pointing to its continued success.
In part two of our Women’s History Month interview, we hear from three accomplished female executives about mentorship, networking, saying “yes” to opportunities and how women are shaping the future of work.
How can more women flourish in commercial real estate? This International Women’s Day, three industry leaders—CREW Network’s Wendy Mann and CBRE’s Benji Baer and Alison Caplan—share their challenges, inspirations and practical ideas to help women succeed and transform the future of work.
The Dallas Metroplex enjoys a central location, business-friendly government policies and other favorable attributes that have attracted business expansions and investment. Crow Holdings’ Michael Levy and CBRE’s Chelby Sanders join Spencer Levy to offer insights on the catalysts for the area’s enviable growth.
Exploring the intersection of brand and place, Rachel Friedman of TENFOLD and TENSPACE and Brian Taff of Streetsense join Spencer Levy to offer insights on how branding and placemaking can work with real estate to create memorable experiences and shape company culture.
Abundant investment capital is targeting life sciences properties, but breaking into this sector is not easy. Tim Schoen, CEO of BioMed Realty, and CBRE’s Ted Jacobs join Spencer Levy to analyze the keys to success, including how to pull off an office-to-lab conversion and why locating near talent and innovation clusters is so important.
With the big game set to kick off in a few days, Fred Maas, Chief of Staff for the L.A. Chargers, and CBRE’s Phillip Ruhl join Spencer to offer insights on the franchise’s sparkling new development project that has resulted in a championship-caliber facility that will serve the players, staff and the Greater Los Angeles community.
Health and wellness are top of mind for investors and occupiers alike. The Center for Active Design’s Joanna Frank, QuadReal’s Jamie Gray-Donald, and BentallGreenOak’s Rob Naso join Spencer Levy to discuss fostering and measuring building wellbeing in the workplace as well as the broader ESG considerations influencing today’s real estate market.
One of the world’s great cities, Chicago’s diversified economy and eclectic culture attract talent, jobs and investment capital, even amid challenges. Roosevelt University’s Collete English Dixon and CBRE’s Lisa Konieczka join Spencer Levy to share insights on the Windy City’s blueprint for growth and revitalization.
Financial workout specialists Goodwin’s Minta Kay and CWCapital’s James Shevlin join Spencer Levy to explain why commercial real estate has been more resilient during the pandemic than previous downturns and offer insights on creative moves that property owners facing potential distress can make to mitigate financial pain.
What does 2022 have in store for commercial real estate? This week’s guests provide a well-informed perspective. The Real Estate Roundtable’s Ryan McCormick and CBRE’s Global Chief Economist Richard Barkham join Spencer Levy to offer insights on which sectors stand to benefit from an economy that, despite continued challenges, is poised for further growth.
As we close the book on 2021, commercial real estate professionals look to start fresh in 2022. On The Weekly Take, Glenn Rufrano, former CEO of VEREIT, and CBRE net lease specialist Will Pike join Spencer Levy to discuss recovery trends in office, retail, REITs and more.
The Weekly Take covered defining topics of 2021: the future of cities and the office, ESG investing, supply chains, click-to-brick retail experiences and scores of others. Our roster of influential guests ran from A to Z: Allen de Olazzara of Miami’s Parkway Properties to the inimitable Sam Zell. In this year-end episode, we look back to some of our favorite moments from the year and look forward to new insights and conversations in 2022.
New strategies are getting shoppers back into stores. Industry experts Brian Harper, CEO of RPT Realty, and CBRE’s Lisa Stoddard join Spencer Levy to discuss investment trends, the tenant mix, this year’s shopping season and what it takes to succeed in 2022 and beyond.
What do the recent Black Friday and Cyber Monday sales figures portend for the holiday shopping season? Retail data expert Dana Telsey and CBRE’s Brandon Isner join Spencer Levy to offer insights on the future of retail in 2022 and beyond.
New hybrid workplaces, retail experiences and multifamily residences will help to shape the future of cities in continental Europe. CBRE’s Javier Chico Palazón joins Spencer in Madrid for an international take on the changing ways we work, shop and live.
As Atlanta celebrates its World Series championship, Cousins Properties’ CEO Colin Connolly and CBRE’s John Shlesinger and Ellen Stern join Spencer Levy to examine the business-friendly climate that has propelled Atlanta’s robust recovery and look ahead to future opportunity.
Interest in golf surged during the pandemic. Course designer Beau Welling and CBRE’s Jeff Woolson and David Gossett (ex-professional golfer) join Spencer Levy to discuss the reasons for the renewed popularity, its durability and what the future holds for golf as a sport and a business.
No matter the setting – from home to school to work -- our environments affect our concentration, creativity and critical thinking. In this episode, authors from Harvard University, Joe Allen and John Macomber, join Spencer to explore how healthy buildings can boost employee wellbeing and productivity and ultimately, business performance.
In this episode we take a deep dive into the world of REITs. Nareit’s John Worth and CBRE’s Richard Barkham join host Spencer Levy to offer insights on the global economy and trends in commercial real estate investment.
Data Centers are playing an increasingly integral role in the digital economy. Sureel Choksi, CEO of Vantage Data Centers, and CBRE’s Pat Lynch join Spencer to discuss innovations that increase data center reliability, operational efficiency and value, including new forms of energy management.
The world's largest companies are increasingly focused on employee well-being and mental health. Lisa Furst of Vibrant Emotional Health and CBRE's Lacey Willard join Spencer to discuss how proactively promoting employee wellness can yield profound benefits for a company's culture.
Miami is booming, capturing the imaginations of people, businesses and investors. Parkway Property Investments’ Allen de Olazarra and CBRE's Shay Pope join Spencer to take a deep dive into what makes Miami the Magic City.
CBRE’s latest U.S. Cap Rate Survey reveals opportunities—and some risks—across property types. Rod Vogel, Head of Private Equity Production at Principal Real Estate Investors, and CBRE Executive Vice President Paige Morgan join Spencer to talk about what it all means for investors in U.S. commercial real estate.
With changes sweeping through most industries, Spencer speaks with Matt Watkinson, author of The Grid, about strategies for anticipating market evolution, adapting to the challenges every business faces and making better decisions.
As companies adopt more ambitious ESG goals, Altus Power Co-CEO Lars Norell joins Spencer Levy to discuss the role that solar power plays in helping to forge sustainable energy solutions at commercial properties.
After a year of historic challenges, what’s next for hotels? Marriott’s president Stephanie Linnartz and CBRE’s Robert Mandelbaum join Spencer Levy to discuss hospitality sector innovations, expectations for the future and more.
Why are some direct-to-consumer brands now expanding to brick-and-mortar retail locations? Travis Boyce, the Global Head of Retail Operations at Allbirds, and CBRE’s Laura Barr join Spencer Levy to discuss the appeal of physical retail locations and the power and promise of sustainability in attracting modern consumers.
What does the growing interest in hybrid work mean for the world’s workplaces? CBRE Workplace experts from around the world join Spencer Levy to discuss hybrid work’s global implications for companies, their employees and the future of work.
What big trends are driving the global economy and commercial real estate? CBRE Global Research leaders Julie Whelan and Henry Chin join Spencer Levy to discuss what’s next for key sectors and asset classes for the rest of 2021 and beyond.
After a year of pandemic-spawned disruption, the commercial real estate industry is undergoing a period of growth—and change. Spotify’s former Chief Economist Will Page joins Spencer Levy to discuss his new book, Tarzan Economics, and what lessons commercial real estate can draw from the music industry’s disruption.
Interest in flexible workspaces is on the rise—both to allow companies to better manage their real estate and accommodate employee preferences for more flexibility at work. Jamie Hodari, the CEO and co-founder of Industrious, and CBRE’s Christelle Bron join Spencer Levy to discuss what’s next for flexible workspaces and how workplace experience matters more than ever in an increasingly hybrid world.
Amid pandemic-induced workforce migrations and new hybrid work models, where should companies be looking for tech talent? Lisa Picard, the CEO and President of EQ Office, joins CBRE’s Colin Yasukochi and Dan Harvey to discuss tech markets, hybrid work, sustainability, and CBRE’s latest research on tech talent, with Spencer Levy.
Travel rates are returning to pre-pandemic levels in parts of the world. How is the hospitality industry responding? Keith Barr, CEO of the multinational InterContinental Hotels Group, and CBRE’s Rachael Rothman, Head of Hotels Research & Data Analytics, join Spencer Levy to discuss what’s next for the hospitality sector and what lessons the industry has learned from COVID-19.
What does the next generation of live-work-play developments look like? Tavistock’s Rasesh Thakkar and Gloria Caulfield join Spencer Levy to discuss how Lake Nona, a 17-square-mile development outside Orlando, Florida, brings together sustainable construction, future-forward technology and an eclectic mix of commercial, retail, healthcare and residential uses.
Employees want more flexibility. What does this mean for how companies think about office space? Denis McGowan, Global Head of Real Estate at Standard Chartered Bank, along with CBRE's Julie Whelan and Manish Kashyap, join Spencer Levy to discuss the value of flexible workspaces, what the move towards hybrid work means for company culture, lessons from the economic recovery in Asia and more.
What’s ahead for commercial real estate? Educators from Cornell University, Ohio State University and the University of North Carolina join Spencer Levy to discuss what’s happening today—and what to expect for the office and retail markets, as well as labor trends, as the recovery unfolds.
Brookfield Real Estate CEO, Brian Kingston, and Head of U.S. Office, Ben Brown, join Spencer Levy to explore the cycle of urban reinvention and what is drawing people back to great cities like New York, London, Shanghai and San Francisco. Hear how it impacts office and retail assets and investment strategies.
What will the future city look like? Who will live and work there? Urbanist Richard Florida and CBRE’s Global Chief Economist Richard Barkham join Spencer Levy to answer these and other compelling topics in a wide-ranging discussion on CBDs and the suburbs, remote work and the creative class.
Today’s law firms are moving beyond dark wood and marble and opulent private offices. Orrick’s David Fries and Laura Saklad and CBRE’s Stephen Bay join Spencer Levy to discuss how the workplace model for legal firms is changing—and what those changes portend for work styles and office requirements.
Timber has emerged as a safe, sustainable next-generation office construction material. Laura Hines-Pierce and Steve Luthman of Hines and CBRE’s Emma Buckland join Spencer Levy to discuss the role that innovative timber construction can play in the future of office development.
Australia’s businesses have largely returned to the office months ahead of the U.S. and Europe. Charter Hall’s Office CEO Carmel Hourigan and CBRE’s Amanda Steele join Spencer Levy to share insights on preparing for employees to return and Australia’s central role in the global economy.
Industry titan Sam Zell joins Spencer Levy for a frank conversation on the topics and trends at the forefront of commercial real estate, everything from inflation to ESG investing to the future of cities and remote work.
The pandemic added new challenges to the affordable housing industry. Avanath Capital Management’s Daryl Carter and CBRE’s Sarah Garland join Spencer Levy to explore innovative ways the industry is responding, including impact investing, international capital flows and modular construction technology.
A trio of commercial real estate CEOs, Invesco Real Estate’s Scott Dennis, BentallGreenOak’s Sonny Kalsi, and CBRE Global Investors’ Chuck Leitner, join Spencer Levy to discuss how impact investments using ESG principles can help the bottom line and the greater good.
From Atlanta to Nashville and Raleigh to Orlando, the U.S. Southeast is attracting employers and investors. Highwoods Properties’ Ted Klinck, Johnson Development’s Geordy Johnson, and CBRE’s Frank Fallon and Will Yowell join Spencer Levy to explain why.
Joel Kotkin, Presidential Fellow in Urban Futures at Chapman University, joins Spencer to discuss migration trends, globalization and the evolving role of cities.
Three of New York’s preeminent brokers—CBRE’s Annette Healey, Darcy Stacom and Mary Ann Tighe—join Spencer to discuss New York City’s recovery from the COVID-19 shock and why it’s not a good idea to count out the Big Apple. Second of a two-part series on NYC in honor of Women’s History Month.
In honor of Women’s History Month, three of the industry’s top brokers join Spencer to discuss their rise to the top of the New York market and the challenges of being working women and mothers in a traditionally male business. Part two of this series will air on March 23.
Healthcare delivery has played an important role during the pandemic, which has accelerated trends in life sciences properties and medical office buildings. Pete Bulgarelli, President and CEO, Lillibridge Healthcare Services and Executive Vice President, Office at Ventas, and CBRE’s Chris Bodnar join Spencer to examine the changes driving these industries and how operators and investors are adapting.
The retail sector is evolving, marrying bricks and mortar with technology and e-commerce platforms. Terry Brown, Asana Partners; Brian Taff, Streetsense; and CBRE’s Melina Cordero join host Spencer Levy to examine how the urban mixed-use retail experience is being reimagined.
Location strategy is evolving rapidly. Economic development leaders from Columbus, OH; Kansas City, MO; and Salt Lake City, UT, and CBRE’s Eric Stavriotis join Spencer Levy to weigh in on how secondary markets are luring talent and employers seeking increased flexibility.
Where and how will people work in the future? That’s the big question under discussion when two workplace leaders—Bank of America’s Anne Walker and CBRE’s Karen Ellzey—join Spencer to share insights on corporations’ evolving plans for the future workplace.
As the hospitality industry awaits the return of travelers, the government’s Paycheck Protection Program has helped many hotels weather the COVID-19 storm. D.J. Rama, Auro Hotels, Chip Rogers, American Hotel & Lodging Association, and CBRE’s Bob Webster, join Spencer to discuss PPP’s impact and the potential timing of the sector’s recovery.
The reigning Bachelor, Matt James, is an Associate broker in CBRE’s New York office. On this episode, Matt joins Spencer to share his insights on forging a career in commercial real estate and why diversity, equity and inclusion matter.
As we observe International Data Privacy Day later this week, CBRE’s Chandra Dhandapani, Chief Administrative Officer, and Shannon Clark, Global Director, Data Protection & Privacy, join Spencer Levy to offer insights about keeping data secure amid a work-from-anywhere environment.
What does 2021 have in store for the economy and commercial real estate? Noted economist and real estate analyst Peter Linneman and CBRE’s Global Chief Economist Richard Barkham join Spencer to dig into what the Biden Presidency and vaccine rollout mean for the economic recovery and CRE sector performance.
2020 was a complex year for construction. Some markets paused activity for long periods, while the cranes barely rested in places where construction was deemed essential. Meanwhile, tenant improvement work and corporate projects slowed sharply amid COVID lockdowns. Trammell Crow Company’s Ann Sperling as well as CBRE’s James Millon and Jim Dobleske join Spencer Levy to offer insight on the outlook for construction as the calendar turns to 2021.
Self-storage is not just a haven for beloved treasures but a resilient real estate play. Liz Schlesinger of Merit Hill Capital and Nick Walker of CBRE Capital Markets join Spencer to examine the sector’s growing appeal.
In 2021, we plan to bring you more great stories. In the meantime, here are some of our favorite insights and outtakes from the debut season of The Weekly Take, when an array of experts joined host Spencer Levy to offer timely thoughts on commercial real estate and the economy.
Mark Zandi, Chief Economist for Moody’s Analytics, and Julie Whelan, Global Head of Occupier Research for CBRE, join Spencer to share their informed insights on the economic outlook and its impact on the banking and financial services sector in 2021 and beyond.
What happens to your unwanted online purchases? Reverse logistics helps put products back into the supply chain and builds consumer loyalty for retailers. Sid Brown, CEO of NFI, and John Morris, Americas Industrial & Logistics and Retail leader, CBRE, join Spencer Levy to explain how.
Co-living is one of the fastest-growing trends in multifamily housing. Adina David of Greystar, along with CBRE’s Jo Winchester and Tom Moffatt, join Spencer Levy to share insights on how co-living addresses urban density and affordability challenges and creates connected communities.
Where is global capital headed? Michael Turner, President, Oxford Properties, and Chris Ludeman, Global Head of Capital Markets, CBRE, join Spencer to discuss investment trends and strategies for 2021.
Spencer Levy moderates a roundtable featuring experts from CBRE, The Real Estate Roundtable and Hudson Advisors, who handicap a recovery for 2021, including how policy changes in Washington may influence the commercial real estate market.
Do diversity & sustainability initiatives make financial sense? CBRE’s Chief Financial Officer, Leah Stearns, and Chief Diversity Officer, Tim Dismond, explain why the answer is a resounding "Yes!"
With all eyes riveted on the U.S. election results, Richard Barkham, Global Chief Economist for CBRE, joins Spencer to discuss what the election and the prospects for a vaccine mean for the economy and commercial real estate in 2021.
“The future of retail is net lease,” says Joey Agree, CEO of Agree Realty Corp. Agree and Will Pike, Vice Chairman, CBRE Net Lease Property Group, join Spencer to discuss why net lease has become a key portfolio strategy across asset types.
From TV & movies to gaming & tech, the entertainment industry has a voracious appetite for physical space. Victor Coleman, CEO of Hudson Pacific Properties, one of the largest owners of studio and tech space, and CBRE’s Lew Horne, Advisory Services President, Pacific Southwest, join Spencer to take us behind the scenes.
The Life Sciences industry is booming around the world. CBRE specialists Ian Anderson, Joanne Henderson and Steve Purpura join Spencer to analyze the growth of bio-tech clusters and what it means for real estate usage and investment.
How resilient is Senior Housing? Joel Nelson, CEO of LCS, and Lisa Widmier, EVP of CBRE’s Senior Housing Capital Markets practice, join Spencer to discuss how senior housing has adapted to the challenges of the COVID era and the enduring trends that underpin this asset class’s long-term appeal.
Property owners are reimagining their retail assets - finding creative ways to enhance their value. This week, Adam Ifshin and Chris Ressa of DLC Management Corp, along with Melina Cordero, Americas Head of Retail Capital Markets for CBRE, join Spencer to discuss the future of retail real estate.
Steven Hussain, Director of Community Workforce for Prologis, and Mark Seeley and Kristin Sexton of CBRE’s Labor Analytics Group, join Spencer to share insights on how labor skills and availability affect real estate markets.
Why is student housing so recession-resilient? Bill Bayless, CEO of American Campus Communities, and Jaclyn Fitts, CBRE’s student housing practice leader, join Spencer to offer insights.
What’s powering the burgeoning digital economy? Charles Meyers, CEO, Equinix, and Pat Lynch, CBRE’s Senior Managing Director, Data Center Solutions, join Spencer Levy to share insights about a robust asset class – Data Centers.
How the pandemic-related move toward e-commerce has accelerated key trends in the Industrial & Logistics sector.
Dror Poleg, futurist & author of Rethinking Real Estate, joins Spencer Levy to share insights on the impact of innovation on commercial real estate and the evolution of cities.
How innovations in flexible space will shape the office experience long after the COVID-19 crisis subsides with Hana leaders Andrew Kupiec and Georgia Collins.
A view on the prospects for a global economic recovery and the road back for commercial real estate with Richard Barkham, CBRE’s Chief Global Economist.
CBRE’s Julie Whelan and Brandon Forde on how major companies are viewing the future of the office in the COVID era.
CBRE’s Tech Sector experts, Colin Yasukochi, Lexi Russell and Dan Harvey join Spencer Levy to share insights into the many ways tech talent is influencing real estate markets.
As U.S. hotels adopt new safety protocols and evolve the experiences they will deliver, James Risoleo, CEO Host Hotels, and Bob Webster Vice Chairman & President, CBRE Hotels Institutional Group, discuss the sector’s future.
Talking public policy with Jeffrey DeBoer, President & CEO of The Real Estate Roundtable, and Brian Stoffers, Chairman of the Mortgage Bankers Association and Global President of Debt & Structured Finance, CBRE, about the proposals on the table in the nation’s capital and how they may affect the commercial real estate recovery.
As construction activity resumes, Mark Wilsmann, Head of Real Estate Equity Strategies, MetLife Investment Management, and Matt Khourie, CEO, Trammell Crow Company, discuss navigating the challenges posed by Covid-19 with host Spencer Levy.
How cold storage became the unsung hero of the supply chain and an attractive investment asset. Featuring Fred Boehler, CEO & President of Americold, and Barbara Perrier, Vice Chairman, CBRE National Partners Group.
Pulitzer Prize-winning author Daniel Yergin, and Craig Beyer, Vice Chairman of CBRE’s Global Energy Practice, discuss the global oil market during COVID-19 and its impact on everything from office demand to your commute.
Featuring CBRE’s Christelle Bron, Americas Agile Practice Leader, and Manish Kashyap, Global Head of Advisory & Transaction Services—Agile, joining host Spencer Levy, Chairman of Americas Research and Senior Economic Advisor, to offer insights on the Future of Flex.
Ralph Rosenberg, Partner & Global Head of Real Estate at KKR, and Chris Ludeman, CBRE’s Global Head of Capital Markets, join Spencer Levy, CBRE’s Chairman of Americas Research and Senior Economic Advisor, to dissect conditions and opportunities in today’s roiled commercial real estate investment market.
Microsoft’s Michael Ford, Head of Global Real Estate and Security, joins CBRE’s Spencer Levy, Chairman of Americas Research and Senior Economic Advisor, to share insights on how data and technology innovations can improve the workplace experience and overcome challenges created by COVID-19.
Alex Smith, Founder & President of Atlas Restaurant Group, and CBRE SVP, Restaurant Practice Leader - Emerging Concepts, Jessica Curtis join host Spencer Levy, CBRE’s Chairman of Americas Research and Senior Economic Advisor, to discuss challenges and opportunities surrounding restaurant reopening.
President & CEO of Bozzuto, Toby Bozzuto, and CBRE’s Vice Chairman & Managing Director, Brian Eisendrath, join host, Spencer Levy, CBRE’s Chairman of Americas Research and Senior Economic Advisor, to analyze the prospects for Multifamily investment.
CBRE’s Global Chief Economist, Richard Barkham, PhD, and host, Spencer Levy, CBRE’s Chairman of Americas Research and Senior Economic Advisor, share their distinct views about what will drive the U.S. and Global economic recovery, with a specific eye on commercial real estate’s most resilient and vulnerable asset classes.
In Episode 5, Lenny Beaudoin, CBRE Executive Managing Director of Space Enablement Services, describes practical steps businesses can take to begin preparing for their return to the workplace.
In episode 4, Greg Hyland, Head of Capital Markets for APAC, and Moray Armstrong, Managing Director of CBRE Singapore, talk with Spencer about the COVID-19 experience in Asia and what it may portend for the U.S
In episode 3, Melina Cordero, Managing Director of Retail Capital Markets for the Americas at CBRE, talks with Spencer about how Retail will fare in the short and long term.
In episode 2, Todd Lippman, Vice Chairman, CBRE talks with Spencer about the impact of COVID-19 on occupier sectors and how he’s advising both tenants and landlords through today’s challenges.
In the first episode of CBRE's The Daily Take podcast, Spencer Levy welcomes Darcy Stacom, Chairman and Head of New York City Capital Markets to discuss how she's advising clients amid the COVID-19 crisis