Corporate Real Estate properties are valuable capital assets that must be managed and optimized in order to grow. Here we discuss the top 3 trends impacting Corporate Real Estate Facilities Management and Capital Planning.
1. Facilities Managers will become Ambassadors
Recently iOfficeCorp reported that Facilities Managers are becoming more like ambassadors. This comes on the back of an overarching trend within the facilities management industry which has seen Facility Managers and Executives move from being a support service to being strategic partner.
Further occupants and consumers are increasingly seeking experiences in addition to products or services. Integrated property and facilities management will streamline Corporate Real Estate Facilities Management, and the Facility Manager will be responsible for overseeing all of these added options.
In fact, creating and maintaining new features, such as water and fire features, will be an integral part of drawing in new consumers to spaces, and as a result, such features will draw in more tenants willing to pay a premium.
2. Sustainability is a Top Priority for Tenants
A key focus of corporate real estate facilities management for 2019 will include sustainability. Most consumers, which are millennials and Gen Zers, expect to do business with companies that use sustainable practices. This translates into tenants looking for sustainable-based CRE providers. As a result, CRE organizations will need to renovate existing facilities and improve use of energy, as well as ensure optimum facility condition, to attract and retain tenants.
CRE tenants want more than just a basic commercial space; they want spaces using sustainable practices. On the part of CRE providers, this translates into pre-M.Div. facilities retrofits, use of smart systems, and proactive means of maintaining facilities. In other words, the CRE-facilities management services partnership becomes even more important for attracting potential tenants.
3. New Construction of Office Space will Decrease
A final corporate real estate facilities management trend to consider will be the decline of new-build Corporate Real Estate space construction. Instead of trying to develop new CRE, builders are turning to renovations and ways to enhance existing sites, which will result in greater demand on the facilities management team.
As a result, maintaining optimum facilities will be crucial to tenants looking for space, and since space demand will increase. Further, facilities executives will need to develop stronger and more comprehensive long-range capital plans.
It is important that the facilities team make decisions for its Corporate Real Estate portfolio that are directly linked to the strategic objectives of the business across levels. Implementing software like our FOUNDATION platform will empower your team to effectively manage all buildings and assets as well as develop comprehensive capital plans so that you can secure the future of your organization's Corporate Real Estate portfolio.
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