by Shane Henson — November 28, 2011—Attendees of the Thought Leader Symposium 2025: A Vision for Commercial Real Estate, offered in November through the Building Owners and Managers Association (BOMA) Foundation and the Georgetown University School of Continuing Studies and its Masters of Professional Studies in Real Estate Program, gained insight into what the future holds for commercial real estate and what effects technology, globalization, sustainability and demographic shifts will have on the workspace and the workforce over the next 15 years.
The Workspace: Katya Naman, senior vice president of Lowe Enterprises Inc., moderated a diverse panel featuring speakers from government, architecture and corporate real estate advisory firms, who discussed workspace trends and the potential demand for office space in 2025. Mobility was at the heart of the discussion, with all panelists agreeing that teleworking will continue to gain momentum, and, as teleworking becomes more prevalent, many companies will need less space per worker.
The key to future success in commercial real estate, the panelists agreed, is innovation. Property management firms will also have to think carefully about how they can provide the spaces and services that future tenants will need.
The Workforce: BOMA President Henry Chamberlain moderated a panel that looked at the Workforce in 2025. Chamberlain kicked off the discussion by noting that as productivity within companies continues to increase, developing and retaining a talented workforce is a core priority and challenge for commercial real estate firms. Panelists discussed how the goals and priorities of an emerging workforce are helping firms evolve to meet new expectations.
Technology is critical, and archaic systems will be a deterrent to candidates, said Matthew A. Metro, principal of The Maison Group Inc., who also noted that companies should empower employees to use new technologies and media to market their companies and attract the best talent.
Panelists also discussed how the concept of career development is changing with the incoming workforce. The corporate ladder concept is starting to go away, suggested Kristen Reese, director of talent acquisition for the Bozzuto Group. Satisfying careers don’t necessarily have to go up, but tend to go more in waves of different experiences. Reese also explained that the hierarchy trickle down of information is being replaced by more collaborative experiences.
In his closing remarks, Chuck Schilke, associate dean of Georgetown University’s Master’s Program in Real Estate, touched on the ways in which the workforce of 2025 will affect commercial real estate: A five-generation real estate workforce will collaborate in the workspace of the future. This promises to give the future real estate workforce a long-term perspective that will foster more sustainable and energy-efficient buildings, he said.
