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CoreNet Global Corporate Real Estate Review

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Spotlighting people, news and events affecting corporate real estate (CRE) worldwide.
Member Viewpoint
Virginia Huang, Tin Sun, Catherine Xiong
By Virginia Huang, Regional Director, CBRE Northern China; Tin Sun, Associate Director, Head of Research, CBRE Northern China; and Catherine Xiong, Senior Director, Project Management, CBRE
Poor air quality in Beijing has been the subject of much local and international scrutiny in recent years. CBRE, the world’s leading commercial real estate services and investment firm, conducted an online survey to gauge the impact of poor air quality on the Beijing real estate market.
A Q&A with Cathy Guilbeaut
Data and analytics (D&A) are key to successful reporting and decision making in corporate real estate (CRE). In this month’s Member Viewpoint, Cathy Guillbeault, Head of Global Real Estate for Nike and a former CoreNet Global Board member, discusses how her team uses D&A to impact their decision making.
VijayA Conversation with Vijay V. Vaitheeswaran
Vijay Vaitheeswaran is a correspondent for The Economist and author of Need, Speed, and Greed. He will deliver his talk, titled “The New Rules of Innovation,” during General Session 1 at CoreNet Global’s APAC Summit in Hong Kong Wednesday, 18 March from 9:00 to 10:30 a.m.

Scott OffermannAn Interview with attorney David M. Kroeger, Jenner & Block
In this month’s Corporate Real Estate Review, David M. Kroeger, a Partner in the Chicago headquarters of U.S.-based law firm Jenner & Block, explains what TRIA covers and when it takes effect; why it is so important to the real estate industry and insurers; and what stakeholders need to know about changes to coverage going forward.

Member Viewpoint
Scott OffermannBy SCOTT OFFERMAN, Cushman & Wakefield
For corporate real estate (CRE) professionals who are continually faced with reducing expenses for their organizations, having to justify maintenance contracts to the C-suite and Board are just part of a day’s work. In this article, Scott Offerman, Critical Operations Manager for Cushman & Wakefield, builds a business case for investment in preventative maintenance programs.

Member Viewpoint
Guy DouetilBy Sally A. Fisher
For the past several months, governments around the world have mobilized healthcare and disaster response teams to try to get ahead of and contain Ebola Virus Disease (EVB), a hemorrhagic fever that, at the time of this writing, has killed more than four thousand people, according to the World Health Organization (WHO).

Member Viewpoint
Guy DouetilBy Ed Caddy, III and Allyn Dorey
This impressive new office is the result of Jardin Lloyd Thompson’s (JLT) need to consolidate almost 2,000 London staff from four locations into one prominent, highly sustainable workplace. M Moser Associates’ integrated expertise was key to bringing the project from site selection to completion with innovative planning, branding, design and coordinated engineering solutions.

Member Viewpoint
Guy DouetilBy Guy Douetil, Managing Director of EMEA Corporate Solutions Colliers International
On September 19, Chinese e-commerce company Alibaba went public, raising $25 billion during its initial public offering (IPO), the most ever for a company on the listed on an American exchange. The company, which might be best described as a patchwork of Amazon, eBay, PayPal and FedEx, is now one of the biggest technology companies in the world. The potential implications of Alibaba’s entrée onto the world market have been widely debated in the tech world, but what does it mean for corporate real estate (CRE)? Guy Douetil, Managing Director of EMEA Corporate Solutions, Colliers International, weighs in.

Member Viewpoint
Ed ZielinskiBy Ed Zielinski, AIA
Developing a living facilities capital plan can help you effectively and programmatically address these pressures in today’s constantly changing and inherently uncertain work environment.

Member Viewpoint
Bryan JacobsBy Bryan Jacobs, Managing Director, JLL
Picture this: the CFO of a Fortune 1000 company, speaking to investors on a quarterly earnings call, highlighted the corporate real estate (CRE) team for its successful program of monetizing certain assets and reducing carry costs of others.

Member Viewpoint
Victor VizgaitisBy Victor Vizgaitis, Design Principal for Sasaki's Corporate Interiors
In designing a workplace, determining the type—or types—of space you need is one of the most fundamental decisions to make.

Member Viewpoint
Lisa KillabyBy Lisa Killaby, IIDA, LEED AP, Principal, ADD Inc.
Intellectual property law firm Fish & Richardson has a long history of representing great innovators.

Member Viewpoint
Mark GibsonBy Mark Gibson, Mike Straneva and John Cullins, Ernst & Young
More companies are seeking rulings from the IRS allowing them to spin off owned real estate assets into a non-taxable entity known as a Real Estate Investment Trust.  What’s behind the trend?

Member Viewpoint
Greg ParsonsBy Greg Parsons, VP, New Landscape of Work at Herman Miller, and Sam Grawe, Editorial Director Herman Miller
At the outset of the 21st century, we find ourselves in a period of great inflection. Political, economic, social and technological order has seemingly given way to upheaval and uncertainty. A similar sense of uncertainty also follows us to work.

Member Viewpoint
ShareneBy Sharene Rekow, VP of Business Development, Green Building Initiative
There are solid financial reasons that leaders in commercial real estate own and operate sustainable buildings. Current market reports show that the benefits of implementing green practices include: 1) reduced long-term building operating costs (energy, water, maintenance), 2) qualifying for local tax incentives, 3) increased occupancy rates, rents and sale prices.

Member Viewpoint
Justin_halewoodBy Justin Halewood, Technical Environment Manager for Standard Chartered’s CRES Function
Standard Chartered Bank, founded in 1853, is an international banking organization, headquartered in London, with a presence in more than 77 countries and a world-wide staff complement of about 90,000 people.

Member Viewpoint
Meaghan FarrellBy Meaghan Farrell, Vice President, LEED Green Associate
Many tenants have heard about green leases, and almost as many might wonder whether they should consider one.  The answer, for a variety of reasons, is an overwhelming “Yes!”  It is a real estate opportunity that truly benefits everyone: tenants, landlords—and not least—the environment.

Member Viewpoint
CoreNet Global Should be Commended for Taking Leadership Positions on Healthy and Energy Efficient Work Environments
Adam BernholzBy Adam Bernholz, JD/MBA LEED AP, CEO GreenWizard
As a central repository for thought leadership in corporate real estate, CoreNet Global’s position statements of December 2012 on the Quality of Working Environments and Energy Management as Socially Responsible Practices are truly groundbreaking events, and certainly deserve to be praised in earnest.Read more..

Member Profile
CoreNet Global’s International ‘Camaraderie’ Powered by A Rich Diversity of Industry Professionals
Profile of George P. Melas, AIA, LEED AP
George MelasFor someone who grew up in Athens, Greece – home of the Acropolis, the Parthenon and other historic treasures – it seems only natural to have forged a career around architecture, design and the built environment. Read more..

Member Viewpoint
Is the drive for collaboration killing productivity?
by Hayley Dalton, Johnson Controls
Haley DaltonOver the last forty years, the workplace has changed considerably. The notion of the workplace as a static building with fixed working hours and space allocation based on status is fading. Instead, more companies are adopting open office environments designed to encourage knowledge sharing, collaboration and communication.  Read more..

Member Viewpoint
by John T. Anderson
John T. Anderson
Corporate real-estate executives (CREs) are often stuck between a rock and a hard place when it comes to workspace. On the one hand, they would all like to provide the types of workspace that employees want in the hopes that it helps workers be more productive, efficient, and satisfied. On the other hand, CREs receive cost and space mandates from above that frequently conflict with employees’ preferences. Read more...

Member Viewpoint
by Richard Mitton
Richard Mitton
A survey of CoreNet Global members has revealed that the top challenge facing the corporate real estate (CRE) industry is finding skilled people to deliver advanced solutions in complex workplace environments. Other challenges highlighted by the research include implementing cost savings initiatives, growth in new markets and developing new products and services. Read more...

Member Viewpoint
by Bob Fox
Bob Fox
If you've been in the workforce for more than 10 years, then you've likely noticed the transformative changes happening in workplace design. Technology is spreading beyond the physical boundaries of the organization, the office itself is interactive and increasingly flexible, and employees aren't glued to their workstations. Frankly, designing a workplace today is like juggling multiple objects -- like a chain saw, two flaming batons, and a half-dozen eggs (not in the box). Read more...

Member Viewpoint
by Sven Govaars
Sven Govaars
What struck me in exploring these five forces last year was their influence on each other. Each force could not be discussed in isolation and still provide deep insight into the changes we were facing. Today, I still believe that we need to see the five forces in a new way. Read more...

Member Viewpoint
by Helmut T. Weih
Helmut Weih
Helmut Weih, Regional Director for Corporate Services, China, at CBRE, discusses the improving FM environment in China and Asia and the path ahead. For most companies, China remains an area of growth, driving many corporations' bottom lines. It is in all of our best interests—regardless of which side of the fence we are on—to drive improvements that ultimately make our businesses and our industry better, Weih notes. Read more...

Member Viewpoint
by Steven Marcussen
Steven Marcussen
"Scare" is still in the air. Business conditions are uncertain, and taxes, healthcare costs and financial regulations are all still up in the air. Across the U.S., the commercial real estate market is being driven by consolidations, declining rents and nearly $1.3 trillion of under-secured debt coming due in the next few years. This is the current landscape that confronts any company looking to lease commercial office space. Read more...

Member Viewpoint
by Dennis Walsh

Jeffrey Keitelman
Cities have always created wealth, and have always been a population sink. But if we are ever going to get out of the tailspin we are in, cities are left with two choices: either reaffirm blind faith in the power of economic growth based on the assumption that the gains of economic growth will "trickle down" and make cities fit to live in or strive for explicit societal sustainable development. No doubt we must have growth, but we must grow in a different way. Read more...

Member Viewpoint
by Jefferey Keitelman and Tracy Stockton

Jeffrey Keitelman
Some real estate brokers offer to share a portion of their brokerage commissions on certain deals as a way to reduce transaction costs for their best corporate clients. Is this fairly common practice of commission sharing lawfully permitted in your state? Read more...


Member Viewpoint
by Mark Dixon

Mark Dixon Think of all the time we spend chasing things, reacting to situations, allowing ourselves to be carried along by other people's schedules and priorities. How often do we say we're too busy to think about something now? And what does this ceaseless activity achieve? Often very little. So let's think about the thinking process itself, how the brain works, and how we might make it work more quickly and efficiently.

Stop and think for a moment. Yes, think. We don't do enough of it. Read more...

Member Viewpoint

Long-term planning is an essential part of a successful company's operations. In contrast, how engaged are public agencies in the practice of long-term planning? Business leaders must look at their investment in facility, workforce and technology in the context of how it supports their operations and competitive positioning for the long-term. Where they locate their business is part of that planning. Read more...

Leader Preview
by Chris Cooper, CEO, Charles Dunn Co.

Chris Cooper
In September's CoreNet Global Leader, Charles Dunn Co. CEO Chris Cooper examines the evolution and foundation of successful client/provider relationships.

Today's corporate real estate (CRE) outsourcing model is very different than what we saw 10 to 15 years ago. Simply put, it was a much simpler model. Corporate clients back then were looking for coverage, technology, pricing and depth. Today, the CRE outsourced partner has become a fully integrated extension of the CRE department, sharing not only roles and responsibilities, but corporate culture, office space, 360 reviews and mutual goals as well. Read more...

Member Viewpoint
by Rick Cleveland

Rick Cleveland
Developing a customized portfolio strategy requires a significant amount of work up-front to first identify the needs of the organization and then establish an accurate view of the portfolio from which to build the strategy. As one begins the process of developing a strategic plan there are a few key steps to keep in mind. Read more...

Member Viewpoint
by Anne Joyner Sheehan, CRE, MAI

Anne Joyner Sheehan
Take a tip from several of the country's leading real estate investors, corporate owners and asset managers: proactively reduce your property tax liability by appealing your assessments.

"There are several very effective ways to present the loss in value over the last four years to maximize property tax reductions today." Read more...

Corporate Real Estate Review Chicago Midwest Summit Edition
Blog post on The Commercial Tenant Resource by Ken Ashley, MCR

Ken Ashley, MCR
Cushman & Wakefield's Ken Ashley, MCR, blogs on the seen and heard – and scene and herd – at the Chicago Midwest Summit.

"In a rousing opening session to the CoreNet Global Summit in Chicago, CEO Angela Cain and Chairman Lee Utke (Global Real Estate Head for Whirlpool) played the theme from the '80s sitcom The Jeffersons entitled "Movin' on Up." The ditty signaled real estate's increasingly important role in Corporate America. And it certainly makes sense given the many millions in savings that real estate directors have delivered over the past several years." Read more...

Corporate Real Estate Review Sneak Preview

Member Viewpoint
By Craig Gillespie

Craig Gillespie
There is no reason to wait – in the midst of the industry and organizational chaos that breeds new life, the time to change is now, comments Manhattan Software’s Craig Gillespie. Read more...

Corporate Real Estate Review Special Whitepaper
By Jack Heine

Jack Heine
The new FASB and IASB lease reporting standards, currently in the final stages of review and still subject to modifications (see Note #2), will place significant new demands on CRE and Financial reporting systems. Some estimates place compliance as early as FY2013. Read more...

Industry platforms appear to lack integration with company systems, a factor that could inhibit lease accounting changes.

CoreNet Global has helped Craig McPhie of Houston by providing best practices training through MCR, a great place to organize with other professionals, and first-class networking opportunities.

Craig W. McPhie, MCR
Facility & Real Estate Services
Devon Energy Corporation
Devon Realty Advisors