More than half of executives polled in a recent Ernst & Young survey say they plan to invest in commercial real estate despite the current economic environment, while two-thirds say they are either leasing or plan to lease suburban office space.
Just 33% of U.S. C-suite business leaders surveyed by EY say they will downsize their CRE investment, while 58% say they will invest in commercial real estate, which could include enhancing or expanding the real estate footprint.
"The economic downturn will force leaders to make important decisions regarding their real estate portfolios — from investments, to space optimization, to workforce models," says Mark Grinis, EY Americas Real Estate, Hospitality & Construction Leader. "Employers are beginning to understand that they need to earn the commute time of their employees, and many are investing in the 'office of the future' to achieve this."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.