{"id":1004763269,"date":"2025-07-01T02:12:50","date_gmt":"2025-07-01T10:12:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004763269"},"modified":"2025-07-02T06:30:35","modified_gmt":"2025-07-02T14:30:35","slug":"boma-special-report-tackling-cres-no-1-challenge","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boma-special-report-tackling-cres-no-1-challenge\/","title":{"rendered":"BOMA Special Report: Tackling CRE&#8217;s No. 1 Challenge"},"content":{"rendered":"\n<p>Halfway through 2025, the commercial real estate industry faces no shortage of challenges. But for her annual State of the Industry address on Monday, BOMA International President &amp; COO Mary Lue Peck looked beyond today\u2019s tight capital markets and trade uncertainty and identified a different longer-term challenge as the No. 1 issue: \u201cattracting, developing and retaining the workforce.\u201d<\/p>\n\n\n\n<p>Speaking at <a href=\"http:\/\/www.commercialsearch.com\/news\/boma-special-report-sustainabilitys-value-proposition\/\">BOMA International\u2019s Conference and Exposition<\/a> in Boston, Peck warned that if commercial real estate continues to take an approach to talent that stems from principles dated by generations, \u201cwe will not have workers to fill all of our needs.\u201d<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary-Lue-Peck-GenZ-sign_800x600.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004763270\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/boma-special-report-tackling-cres-no-1-challenge\/mary-lue-peck-genz-sign_800x600\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary-Lue-Peck-GenZ-sign_800x600.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1751300305&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Mary Lue Peck &#038; GenZ sign_800x600\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;BOMA International President &#038; CEO Mary Lue Beck delivers the keynote at the organization annual conference in Boston.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary-Lue-Peck-GenZ-sign_800x600.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary-Lue-Peck-GenZ-sign_800x600.jpg?w=800\" alt=\"Oversized projected sign with Gen Z at top, woman standing in front\" class=\"wp-image-1004763270\" style=\"width:396px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary-Lue-Peck-GenZ-sign_800x600.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary-Lue-Peck-GenZ-sign_800x600.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary-Lue-Peck-GenZ-sign_800x600.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">BOMA International President &amp; COO Mary Lue Peck delivers the annual State of the Industry address at the organization&#8217;s conference in Boston. <em>Photo by Paul Rosta<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>To a great extent, she said, business culture still tends to reflect qualities associated with the Silent Generation, those born roughly between the start of the Great Depression and the end of World War II. That generation is often characterized by respect for authority and conformity, in contrast to the more rebellious Baby Boomer children.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-beyond-stereotypes\">Beyond stereotypes<\/h2>\n\n\n\n<p>Yet a key problem is that business, like society at large, often misunderstands the next generation of up-and-coming professionals. Baby Boomers have been stereotyped as being self-indulgent, materialistic and focused to a fault on their own success.<\/p>\n\n\n\n<p>A fairer assessment, Peck noted, would credit Baby Boomers with leadership in economic growth, innovation in technology and social movements. For its part, Generation X was once considered cynical and disengaged, yet now deserves credit for its role in the digital revolution, startup culture and focus on work-life balance. &nbsp;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/cre-midyear-outlook-uncertainty-still-on-the-table-or-is-it\/\">CPE Midyear Outlook: Is It Only About Uncertainty?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Gen Z, now the pivotal pool of next-generation talent, has been unfairly tagged as hypersensitive, deficient in soft skills and unwilling to work hard, according to Peck. On the contrary, she added, experience has shown that this generation is not only hard-working but tech-savvy and deeply concerned about humanity.<\/p>\n\n\n\n<p>That said, Gen Z workers also need a management approach that suits their needs and expectations. Peck cited the desirability of managing to outcomes, rather than managing to activities or time in the office. Also preferable are meetings that are shorter but more frequent.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary_Lue_Peck_BOMA-Keynote.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004763271\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mary_lue_peck_boma-keynote\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary_Lue_Peck_BOMA-Keynote.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1751299905&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Mary_Lue_Peck_BOMA Keynote\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;BOMA International President &#038; COO Mary Lue Peck delivers the annual State of the Industry report at the organization&#8217;s conference and expo. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary_Lue_Peck_BOMA-Keynote.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary_Lue_Peck_BOMA-Keynote.jpg?w=800\" alt=\"Woman wearing glasses and a blazer delivering a speech in front of a large screen\" class=\"wp-image-1004763271\" style=\"width:440px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary_Lue_Peck_BOMA-Keynote.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary_Lue_Peck_BOMA-Keynote.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Mary_Lue_Peck_BOMA-Keynote.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">Without a new approach to recruiting, developing and maintaining talent, CRE &#8220;will not have the workers to fill all our needs,&#8221; BOMA International President &amp; COO Mary Lue Peck warns. <em>Photo by Paul Rosta<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Peck emphasized that mentoring for Gen Z is paramount. \u201cWe need to invest in our workforce and professional development more than we ever have before.\u201d This generation wants feedback daily, she added, not just once or twice a year. And for Gen Z, job-hopping is a career strategy.<\/p>\n\n\n\n<p>Summing up the Gen Z mindset, Peck said: \u201cThey don\u2019t just want to work for us, they want to build with us.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-snapshot-of-resilience\">Snapshot of resilience<\/h2>\n\n\n\n<p>Peck\u2019s discussion of the industry\u2019s generational challenge followed a snapshot of an industry that\u2019s proving resilient despite persistent uncertainty. Deal volume was up 11.3 percent year-over-year in the first quarter, with the industrial and multifamily markets leading the way.&nbsp;<\/p>\n\n\n\n<p>Capital markets are still tight, but the trend signals delayed decisions for financing real estate, not abandonment. In an encouraging sign, 44 percent of foreign investors plan to increase their investment in U.S. real estate this year.<\/p>\n\n\n\n<p>Although trade issues are the biggest wild card, she said, \u201cthe long-term outlook for industrial remains solid.\u201d The sector is going through a major shift from conventional warehouse and distribution center development to data centers and manufacturing. Citing Yardi Matrix research, she noted that industrial facilities under construction amount to 346 million square feet, about 1.7 percent of the nation\u2019s total stock.\u00a0<\/p>\n\n\n\n<p>Office vacancy, meanwhile, stands at about 20 percent, compared to 8.5 percent in the industrial sector, and almost 55 million square feet of new office space are under construction. As Peck noted, \u201cThis sector is at the beginning of a long-term transformation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BOMA International President &#038; COO Mary Lue Peck highlighted an issue that has implications far beyond today&#8217;s headlines.<\/p>\n","protected":false},"author":445,"featured_media":1004763270,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,23891,21742,21747,51037],"tags":[],"class_list":["post-1004763269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-national","category-latest","category-office","category-trends"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BOMA Special Report: Tackling CRE&#039;s No. 1 Challenge - 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