{"id":1004540914,"date":"2021-06-25T02:30:17","date_gmt":"2021-06-25T10:30:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004540914"},"modified":"2022-12-07T19:03:14","modified_gmt":"2022-12-08T03:03:14","slug":"whats-keeping-cre-executives-up-at-night","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/","title":{"rendered":"The Top 10 Issues for CRE Now"},"content":{"rendered":"
\"\"<\/a>

Empire State Building. Image by Free-Photos via Pixabay.com<\/p><\/div>\n

The global impacts of remote work and increased mobility on commercial buildings is the top concern for today\u2019s commercial real estate industry, according to The Counselors of Real Estate in its just-released 2021-2022 Top Ten Issues Affecting Real Estate report.<\/p>\n

\n

READ ALSO<\/strong>: How REITs Outperform on ESG<\/a><\/p>\n

\n

While COVID-19 isn\u2019t listed specifically as the No. 1 concern by the international consortium of commercial property professionals as it was last year, the pandemic\u2019s effects are clearly found throughout the comprehensive report. The counselors ranked the acceleration and adoption of technology as having the second-greatest impact on the industry. Logistics and the supply chain, housing supply and affordability were also among the other top 10 issues cited in the report.<\/p>\n

\u201cThe pandemic was a stress test, revealing vulnerabilities, appetites and new and increased risks,\u201d Michel Couillard, 2021 global chair of the Counselors of Real Estate, said in a prepared statement.<\/p>\n

He pointed out that the Top 10 Issues<\/a> are \u201chighly interconnected and indicative of a newly changed and further evolving real estate environment.\u201d For example, Couillard cited cybersecurity, supply-chain and price instability as problems that can quickly have repercussions in commercial real estate.<\/p>\n

\u201cNone of these are new concepts, but in a span of months or even just weeks, we saw high-profile hacks, shortages of resources like microchips, lumber and labor, and rising prices across the board,\u201d he said.<\/p>\n

One of the main themes emerging in this year\u2019s list is the need for the commercial real estate industry \u201cto recognize that adaptability and resiliency are paramount in real estate markets\u201d as we come out of the global pandemic, he said. Couillard, also the president & CEO of BUSAC Real Estate in Montreal, noted that the pandemic significantly disrupted human behavior in how and where people have chosen to work. As a result, there will be a repositioning of the workspace as workers begin to return to offices and benefit from easily adaptable and sharable spaces.<\/p>\n

Couillard said the industry will have to watch closely to see which population migration and space-use behaviors will endure, and be ready to react. Property owners and managers should be flexible in accommodating demand-driven changes in the use and location of space. The report states that after years of a trend toward urbanization, the pandemic universally caused a movement away from the urban cores. Most of the relocations remained in their original region\u201484 percent\u2014but it is still unclear how permanent some of the movements will be and if they represent a true urban exodus.<\/p>\n

As for the technology, the second-biggest concern, the report states that this year the news is about the industry\u2019s acceptance of technology because of the lockdown-driven changes to work, the economy, social structures and personal behaviors. Again, the question remains: \u201cWhat changes will be permanent?\u201d but the report points out that the accelerated upgrade of connectivity, security and hosted processes means any place is now a potential workplace.<\/p>\n

Moving into third place this year from tenth last year are ESG initiatives. Couillard said both investor and market demand for ESG programs in real estate became a global issue, as stakeholders questioned what material is, where we are vulnerable, and which strategies will cost-effectively mitigate risks and create long-term value.<\/p>\n

The counselors selected logistics as the fourth most-concerning issue because of its influence on the economy but also because of the important role it plays in the supply chain, particularly in the era of \u201cshop online and deliver it to me.\u201d The report states post-COVID-19 logistics will continue to disrupt commercial real estate models for years to come, with more funding going to the industrial sector and less to retail.<\/p>\n

The remaining issues on the list include:<\/p>\n

Infrastructure (No. 5): The report states COVID-19, climate change and heightened societal interest and social and economic equity have redefined infrastructure imperatives beyond roads, bridges, airports, ports, mass transit and other traditional needs. In Congress, a bi-partisan group of senators is working to come to an agreement on a massive plan, though it will be significantly smaller from President Joe Biden\u2019s initial $2.3 trillion infrastructure proposal<\/a>.<\/p>\n

Housing supply and affordability (No. 6): The counselors identified weakness in the housing supply and the pressure it puts on affordability as a top concern. The group stated lawmakers must work to expand access to resources, remove barriers and incentivize new development, and that the pandemic only made the affordable housing crisis worse.<\/p>\n

Political polarization (No. 7), economic structural change (No. 8), adaptive reuse (No. 9), and bifurcation of capital markets (No. 10) round out the list.<\/p>\n

Read the full report by The Counselors of Real Estate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

COVID-19 is no longer the No. 1 concern for real estate decision-makers, but its effects are pervasive, according to The Counselors of Real Estate\u2019s annual survey.<\/p>\n","protected":false},"author":1068,"featured_media":1004541063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,22251,21748,45527,23891,21742,21747],"tags":[48950,37207],"class_list":["post-1004540914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-in-focus","category-industrial","category-keyword-optimized","category-national","category-latest","category-office","tag-coronavirus","tag-counselors-of-real-estate"],"acf":[],"yoast_head":"\nThe Top 10 Issues for CRE Now - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Top 10 Issues for CRE Now\" \/>\n<meta property=\"og:description\" content=\"COVID-19 is no longer the No. 1 concern for real estate decision-makers, but its effects are pervasive, according to The Counselors of Real Estate\u2019s annual survey.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-25T10:30:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T03:03:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/\",\"name\":\"The Top 10 Issues for CRE Now - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg\",\"datePublished\":\"2021-06-25T10:30:17+00:00\",\"dateModified\":\"2022-12-08T03:03:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg\",\"width\":1200,\"height\":900,\"caption\":\"Empire State Building. Image by Free-Photos via Pixabay.com\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Top 10 Issues for CRE Now\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Top 10 Issues for CRE Now - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/","og_locale":"en_US","og_type":"article","og_title":"The Top 10 Issues for CRE Now","og_description":"COVID-19 is no longer the No. 1 concern for real estate decision-makers, but its effects are pervasive, according to The Counselors of Real Estate\u2019s annual survey.","og_url":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-06-25T10:30:17+00:00","article_modified_time":"2022-12-08T03:03:14+00:00","og_image":[{"width":1200,"height":900,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/","url":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/","name":"The Top 10 Issues for CRE Now - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg","datePublished":"2021-06-25T10:30:17+00:00","dateModified":"2022-12-08T03:03:14+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg","width":1200,"height":900,"caption":"Empire State Building. Image by Free-Photos via Pixabay.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/whats-keeping-cre-executives-up-at-night\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"The Top 10 Issues for CRE Now"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/06\/empire-state-building-1081929_1920.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004540914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004540914"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004540914\/revisions"}],"predecessor-version":[{"id":1004541578,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004540914\/revisions\/1004541578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004541063"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004540914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004540914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004540914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}