CPE: SIOR Special Report: Developers, Financiers, Techies Brace for Change
As part of its 75th Anniversary celebration, SIOR brought the industry’s top commercial real estate brokers and experts together to discuss topics facing the real estate industry today. The nearly 1,200 members and guests represented over 17 countries, with a diverse lineup of big-name speakers including former New York City Mayor Rudy Giuliani, noted journalist Tom Brokaw and author Erik Qualman.
Commercial Property Executive’s Sanyu Kyeyune covered the event:
Commemorating its 75th anniversary, the Society of Industrial and Office Realtors (SIOR) met in New York City from Oct. 19-21 to discuss the changing face of commercial real estate and what lies ahead. Buzzworthy topics included trends impacting industrial and office developers, REITs and investment managers; game-changing technologies and the impending presidential election.
Catering to the Coming-of-Age
As Millennials come of age, panelists noted, their needs begin to reflect what the suburbs can offer. Daniel Rashin, president & CEO of Rockefeller Group International Inc., commented, “Millennials have graduated from ‘live, work, play’ to ‘live, work, educate,’ as in educating their children.” He suggested that the desire for Millennials to live near good schools will increasingly draw them to the suburban office environment.
Chairman & CEO of Time Equities Francis Greenburger chimed in about the workspace amenities most coveted by Millennials. Referring to current projects, he said, “We find ourselves ‘amenitizing’ suburban office buildings to allow people to work when they want, where they want, how they want. We look at not only food but quality of food because the old-style cafeteria just doesn’t cut it. People are interested in fitness, so we need to have a convenient fitness center where people can work out.”
At Greenburger’s firm, he continued, “we’re developing what we call a ‘work lounge’ for the laptop generation, who don’t always like to stay at their desk. They can go into a different environment, get a cappuccino at the coffee bar and sit in an interesting ergonomic chair. They need the chance to be mobile, to work and play at the same time. We find Millennials are responding to this.”
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