State of the Industry
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Transcript of State of the Industry
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State of the Industry
BOMA: Better by Association
280 Plaza, Columbus, OhioCBRE
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Uneven Recovery in Search of Momentum
• Vacancy Rates Dipped to 15.3% (CBRE) • Just 49 Million sf Absorbed in 2012, Less than Half of 2005 (Mueller)• Q2 Still Flat – RER Sentiment Index – 69• Stock Market, Housing, and Auto Sales Up• The Federal Reserve
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Global Market Conditions
• Global Capital Office Value up 2.5% in Past Year (CBRE)
• Global Rent Up 0.8% in Past Year (CBRE)
• Emerging Markets account for more than half of world GDP
• Regulations• Taxes• Sustainability• Voluntary Marketplace
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Recognition of Best Practices
• TOBY Awards
• Performance Benchmarking
• Lower Operating Expenses
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Efficient Buildings Training for Engineers -Parmenter
Decreased Energy Usage by 64%-Glenborough, LLC
Moved Dial from 10 to 63 ENERGY STAR Rating-Munich Reinsurance
ENERGY STAR Award 11 Years in a Row-USAA Real Estate Company
Participant in DOE’s Better Buildings Challenge-Shorenstein
Distributed 312,000 CFL Bulbs through EPA’s Change the World Campaign -TIAA-CREF
Helped Tenants Benchmark Energy Use -Liberty Property Trust
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Technology & AdaptabilityIt’s time to take the Plunge!
• Mobile & “Sensor Revolution”• “Connected” Buildings• “Big Data” - Management
Dashboards• The Cloud• Time to Innovate
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Future Space Requirements
Source: BOMA International 2013 Global Tenant Survey
Space Utilization• More Density for
Some• More Space for
Others• New Configurations for Many • Culture Shaping
Workspace
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Global Tenant Preferences
TI Allowance Image/Prestige Amenities Public Transit "Green" Features
Downtown
61%
48%
48%
71%
56% 59
%
77%
68%
63%
54%
50%
49%58
% 62%
77%
31%
46%
73%80
%
64%
50%
48%
43%
21%
Priority of Selected Factors in Space Selection by Country
Canada USA New Zealand South Africa
Source: BOMA International 2013 Global Tenant Survey
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Global Space Preferences
Executives Managers
Workers
No Co-workingSpace
Some Co-workingSpace
ExecutivesManagers
Employees
Off-Site Co-Working
Alternative Workspaces
China, India,Russia, Morocco
U.S., UK, Germany, Netherlands
France, Spain, Italy
Source: Steelcase Workplace Culture Study
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Millennial Makeover
Set the Stage for Collaboration• Shared Workspace• Team Space• Tear Down those Walls!• Let in the Light• Be Green, Be Connected• “High Tech is High Touch”• “BYOT”
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LeadershipThe Tools and Ideas You Need to Be Effective in All of This
Leadership Track:• Maximizing Employee Performance through Involved Leadership• Lead, Follow or Get Out of the Way• Creating Value in the Workplace• Leading the Way! Women, Success & CRE• Employment Trends and Tips for Both Employer & Employee
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Collective Wisdom
BOMA: Better by Association
280 Plaza, Columbus, OhioCBRE