by jbs032410 b3 — March 26, 2010—Research by the CoreNet Global corporate real estate association conducted during the recession of the past year shows that corporate real estate (CRE) helped lead corporate strategy in 2009 and early 2010 in battling the effects of the economic downturn with long-term solutions for optimizing future business growth.
These and other major findings are summarized in CoreNet Global’s annual State of the Industry Report, to be released in March. The report synthesized results from the past 12 months of research about a variety of major business drivers, including real estate portfolio consolidation.
According to the report, corporate real estate responded to Black October 2008 with rapid cost savings, higher-than-usual reduction of space, faster-than-normal uptake of mobility and other workplace solutions, and greater emphasis on sustainable practices such as energy efficiency and green buildings over more intensive LEED certification efforts.
Although there is still a tendency for corporate real estate to be seen as a cost-cutting toolbox, research points to it becoming a more proactive strategic partner within the enterprise, says CoreNet Global. As large multinationals were forced to gain control of assets and measure their performance for long-term goals, they began to rely more heavily on CRE as a proactive strategic partner to the business, says the report.
For more details, see the State of the Corporate Real Estate Industry 2010 report on CoreNet Global’s Research/Publications and Resources Web page, under “Current and Planned Research Projects.”
