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Advances in Mobility Producing Profound Impact on Commercial Real Estate

Cushman & Wakefield’s latest report in the firm’s “Tech Disruptor Series,” identified existing and emerging trends in the technology industry that are primed to reshape commercial real estate. Consumer behavior is changing, and that’s playing out across CRE marketplaces with increasing frequency. Still, the report notes widespread adoption is at least a decade or two away with many obstacles, encompassing regulatory, environmental, overall travel demand and legal.

Cushman & Wakefield’s Revathi Greenwood says, “As transportation companies continue to innovate, consumer behavior is changing and a key question is how this affects commercial real estate.”

Transformations in manufacturing facilities, office spaces, parking, and gas stations, are just a few examples of how commercial real estate will need to adapt to the changing landscape of transportation, notes Greenwood. “As urban commuters are spoilt for choice, with options from public transportation to ride-sharing, e-scooters, autonomous vehicles and electric vehicles, commercial real estate participants must be ahead of the curve to determine these changes and react accordingly,” she says.

Among the key report findings:
– Technology is being adopted in industrial logistics and manufacturing settings
– Private car ownership will survive for now, though ride-sharing frees up considerable space to be repurposed or risk becoming obsolete
– Markets will experience an explosion in demand from data centers, cloud computing, entertainment content, high-tech manufacturing, cybersecurity and original equipment manufacturers (OEM)
– Technologies provide more location flexibility, but location will still matter
– There’s a potential to erode premiums for TOD sites and projects
– Large, wealthy, densely-populated cities with expensive parking are likely to be the “early adopters”

Cushman & Wakefield advises CRE owners to look at how to combine constants, including the need for talent, innovation centers, building amenities, along with data, flexibility and efficiencies. Occupiers still want talent, and talent flocks to large, dynamic urban cities driving change and creating jobs.

Building-level soft amenities, services and technologies that straddle hospitality services, as well as data collection from buildings and occupiers (via surveys) are smart bets under any scenario. CRE players who focus on flexibility and efficiencies, while positioning assets to adapt to mobility changes, are best placed to outperform their competitors, predicts Cushman & Wakefield.

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Inside The Story

Read more at Cushman & Wakefield reportConnect With Cushman & Wakefield’s Greenwood

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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