CRE's Become More Engaged with Service Providers as Need for Growth is Balanced with Capacity Challenges
Fifty percent of the attendees at this year's CoreNet Global Summit conference, a high-profile real estate industry trade event, were end users - corporate real estate executives managing large internal real estate departments. This is a dramatic change from past years when service providers were the majority.
CoreNet Board Member and Time Warner Cable executive Philip Grossberg credits that shift of involvement to the economic environment and resulting need for the CRE to engage with service providers to deliver greater value. The internal role of the corporate real estate executive is shifting and today's executive needs to balance the need for growth with capacity challenges.
The distinction between the roles of end user and service provider is blurring more than ever due to the changing economy, the need for more transparency, and Corporate America's need to right-size and increase the utilization and efficiency of its real estate footprint. Today's corporate real estate executive must nurture close ties to the real estate community to stay on the forefront of new strategies and trends in best-in-class real estate solutions. The trend towards outsourcing critical real estate functions to service providers is here to stay, and will drive value for the companies that do it right. Outsourced providers give companies the ability to scale services as needed, offering the flexibility today's volatile business environment requires.
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