There’s a whole lot of real estate thinkin’ and shakin’ going on!
The COVID-19 Pandemic and the catastrophic February winter storm in Texas have dramatically altered where and how we live, work, shop, and play. As a result, the traditional norms associated with real estate for businesses and families are under assault and the complexity of real estate strategy and planning have become top-of-mind considerations for everyone in 2021.
Complex Challenges & Opportunities
Work-from-anywhere, virtual collaboration, virtual browsing, buying & financing, talent pools, “Innovator’s Guild”, and hybrid workplace models are some of the terms and realities we are becoming familiar with in 2021. The resulting impacts from their consideration and implementation along with other real estate realities are creating complicating challenges and opportunities for businesses and families alike in Texas, and all across the USA.
A recent major survey of employers and employees shows both are imagining a future business environment after the pandemic with a lot more flexibility, but not one abandoning office space. In the survey results, 87% of executives said they expect changes to their real estate strategy over the next 12 months, with 6 out of 10 saying they expect to consolidate office space into one premier business district location while an equal number expect to open more locations.
Bifurcation Means Uncertainty
What does this bifurcation mean for businesses and employees in 2021? Real estate portfolios are undergoing major transformation and employers and employees, building owners and tenants alike are having to make adjustments to their real estate strategies and portfolios accordingly. Some are making proactive changes while others are reacting to the changes. Regardless, these changes and others are inevitable, and outcomes will depend on which approach and action is taken.
For many businesses, it means rethinking real estate strategies, planning processes, analytics, and even real estate partnerships. Regardless of what is being considered and/or implemented, success measurement criteria and expectations including, but not limited to, flexibility, productivity and performance, quality and quantity of collaboration, talent pools and employee retention, corporate culture, and communication and feedback are essential.
For many families, the challenges and opportunities related to new business and lifestyle realities mean rethinking living spaces and locations and making real-time real estate decisions based on new, evolving personal circumstances and finances.
The Real Estate Journey…
One Commercial Real Estate Company, Sidecar Commercial Real Estate, LLC, headquartered in Frisco, Texas is helping Dallas-Fort Worth companies proactively address these challenges and opportunities through “The Sidecar Difference” – guiding them through their corporate real estate journeys. It is both an expertise and a passion!
The team at Sidecar anticipates business trends, monitors and measures their impact, and help clients align their corporate real estate footprint with their companies’ operational, financial, and productivity goals. Whether clients are adding new office and industrial locations, searching for their first space, or needing to dispose of excess real estate, the Sidecar team is there with them every step of the way.
To explore The Sidecar Difference, or to discuss your real estate journey, visit www. sidecarcre.com/the-difference/ or contact Ray Martin, Vice President, Corporate Real Estate Advisor via telephone at 469-387-7528 or via email at [email protected].