by Kendall Pretzer
As the old adage goes, the only constant is change, and CRE is undergoing a massive one. The current economic climate places commercial real estate in an increasingly complicated and nuanced position. In the past, CRE investors were content to ride out dips in the economy with little pushback from banks as long as they were in a position to meet financial obligations, but the ride of hybrid work has changed things.
CRE owners and managers are now focusing on value creation for their tenants, including building improvements, amenities and customer service. These things aren’t going to fix the vacancy problem altogether, but by harnessing proven, reliable CRE policies, leveraging surveys and anchoring decisions on reliable benchmarks, companies will find it easier to manage their portfolios.
Read Kendall Pretzer’s article in Proptech Outlook.