The Evolution of CRE: "Upskilling" the Downsized CRE Organization

The Evolution of CRE: "Upskilling" the Downsized CRE Organization

September 2009

Executive Summary Corporate real estate (CRE) organizations have undergone significant evolutionary changes over the last decade, most notably transforming from decentralized to centralized organizations and furthering the development of shared services and outsourcing models in the context of the CRE function. Notwithstanding the ever-present pressures to rationalize real estate operating costs, the current global economic downturn has forced many CRE departments to downsize their own organizations. This downsizing comes at a time when CRE organizations are also being called to be more strategic and proactive in how they navigate dynamic business cycles, intense competitive environments and increased scrutiny from regulators. In response to the mandate to do "more with less," CoreNet Global and CB Richard Ellis (CBRE) recently completed an Evolution of Corporate Real Estate survey to ascertain current trends on CRE organizational size, sourcing strategies, services and skill sets. This survey, as well as empirical evidence from CBRE's own industry observations, brought to light the following key, interrelated findings:

Keywords: Evolution of Corporate Real Estate, Change Management, Research Project, Rightsizing, Partnerships, Outsourcing Management, Upskilling, Specialized Services

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