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November 2, 2020

The Permanent Shift To Remote Work Could Create Race To The Bottom For Office
[Webinar] The Future Of Atlanta Office: Innovation In Workplace Leasing, Technology, Design & Construction Nov. 5

As a host of companies have started pushing their employees to work remotely, they will soon begin to show positive impacts on their balance sheets, saving not just in rent but in energy consumption and office supplies. The relative financial advantage could kick off a race to the bottom in office costs that could have sweeping impacts on the real estate market.

The Permanent Shift To Remote Work Could Create Race To The Bottom For Office

Already, a number of public companies are telling stock analysts that there will be sweeping reductions in office space use, which could save them millions of dollars. And these early adapters will create a Keeping-Up-With-The-Joneses race among companies, CFO Leadership Council founder Jack McCullough said.“That's definitely going to happen,” McCullough…

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Teixeira's Westside Project Was Denied Affordable Housing Incentive Before Sale To Microsoft

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The former developers of a much-watched Westside Atlanta parcel failed to come to terms with city officials for incentives to build affordable housing.Urban Creek Partners, led by former Atlanta Braves and New York Yankees All-Star first baseman 

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CRE's Next Generation: Transwestern's Katy Gragg On How Better Training And Technology Will Guide The Future Of CRE

This series asks rising stars in commercial real estate about their thoughts on some of the biggest issues facing the industry, including inequality, climate change and technology.

Katy Gragg knows how much a good training program can shape the experience of newcomers in commercial real estate. She went through one herself just five years ago, and she reaped the benefits of supportive senior leaders and camaraderie with fellow new hires. 

Not all junior experiences in CRE are positive, owing to the persistence of traditional sink-or-swim attitudes at some firms. But as the industry continues to look for ways to attract and retain top-tier candidates, Gragg told Bisnow that she sees leadership-involved training programs as the best way to invest in the next generation of brokers.

The combination of robust junior training programs and greater emphasis on brokers at all levels learning to use data and analytics to spot new trends could make a huge difference in how successfully CRE firms get through the coronavirus pandemic and beyond.

“Having that organization-wide buy-in, specifically from leadership, is really important to making a program successful, because it sets the tone throughout the hierarchy that training the up-and-comers is critical to the future of the company,” Gragg said.

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COVID And Compensation: How CRE Is Assessing Salaries During Uncertainty
 

The nightmare scenarios pundits paint about commercial real estate right now — malls and retail boarding up, offices remaining empty for months, large-scale developments pulling the plug — truly become horror stories when lost business leads to lost income and jobs. 

Talk with leading industry recruiters, however, and the scenario may not yet be as dire as some worst-case scenarios suggest. Chris Papa, founder and senior vice president at Bacharach Group, a CRE-focused recruiting firm, said the volume of job searches and recruitment activity hasn’t wavered for the last six months, bouncing back after the initial March and April downturn.  

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