BuySellBA
Administrator
The reinvention of a real estate business that is no longer just dedicated to renting or selling - La Nacion Propiedades
Source:
www.lanacion.com.ar
September 10, 2024
Due to the impact of new technologies and accelerated changes in the world of work, real estate companies not only rent or sell work spaces but also offer 360° business proposals
By Sebastian Prats
With the changes in recent times, real estate companies not only rent or sell work spaces but also offer 360° business proposals Shutterstock - Shutterstock
There has been much talk in recent years about what would happen to the office market , especially with the expansion of remote work . Were companies going to reduce their square footage to the minimum possible to the point of turning corporate real estate into a marginal segment? Four years after the start of a pandemic that accelerated the home office trend , reality seems to indicate that those predictions of a world with large empty buildings and a deserted downtown have not only not come true, but the sector has managed to reinvent itself by providing much more comprehensive services .
Companies dedicated to the corporate market agree that the times when business was exclusively about the marketing of offices are long gone . While the full home office gave way to hybrid formats of in-person work and decentralization led to the emergence of new office corridors, real estate companies offer their clients construction management, maintenance and administration services, among others, thus getting involved in the entire life cycle of the property and even in the well-being of the staff .
“ Being involved in the day-to-day operation of buildings allows us to better advise owners ,” says Gonzalo Meira, Director of Transactions at JLL. “On the one hand, it reduces the possibility of problems, since we resolve everyday inconveniences. On the other hand, it allows us to identify possible improvements and thus provide tools so that the assets are better prepared and attract market demand,” he adds.
Proximity to clients and their needs allows corporate real estate companies to better understand market dynamics and advise developers from the start of construction so that they can minimize the risks of their ventures . “We do not limit ourselves to buying, renting and selling. It is essential to understand valuations, efficiently manage income and measure the fiscal impact of each decision, as well as the cost of the money invested and its return. In this context, we collaborate with investors, owners and developers in the genesis of the business, defining the product and modeling the development,” says Domingo Speranza, CEO of Newmark Argentina, another of the leading companies in the sector.4
The office market has managed to reinvent itself by providing much more comprehensive services Shutterstock - Shutterstock
“In the Property Management area, we manage the common areas of multi-occupant buildings, while in the Facility Management area, we manage the facilities, focusing on each type of client. In an industrial warehouse, for example, the focus is more technical, while in a corporate office we look more at the users. Then, in the Project Management area , we are in charge of the management and administration of new construction, moving or remodeling projects, both for corporate and retail offices and for logistics and industrial properties,” explains Jeanette Motok, Regional Business Developer at Cushman & Wakefield.
Perhaps the great advantage of these comprehensive proposals has to do with the ability to solve any type of daily problem that may arise for their clients linked to work spaces . “One of the big issues today is the adaptation of offices. On the one hand, there are companies that redid the layout as soon as the pandemic ended and are already needing to review and modify it. And this point fits with the high cost of the investment that must be made to bring them towards efficient use and a modern layout. This is where new formats and proposals begin to appear , such as flex space , which is already a trend in the world,” says Alejandro Reyser, director of Commercial Properties at Toribio Achával.
Along the same lines, Motok points out that “in the Property area, clients usually arrive with inefficient management of the facilities, so that is where we have a great opportunity for improvement to minimize inconveniences and increase the capacity to generate quality information for decision-making.” The great challenge of Property Management , he says, is to reconcile the interests of a group of owners and occupants who usually have different objectives and points of view.
“ The most frequently asked questions and problems have to do with how to update an asset to make it competitive , how to position a property to attract and retain talent , and how to maximize results ,” says Speranza. “In these cases, a smart marketing strategy is not enough: you need a comprehensive view of the business, the cost of the operation, what the property offers and its comparative and competitive advantages. Understanding the market and the needs of demand is essential ,” adds the CEO of Newmark Argentina .
JLL also focuses on the “efficiency” of spaces . “In recent times, most of our clients’ problems focus on how to make their assets increasingly more efficient. They want to know if they are making good use of their spaces, if they have more or less surface area than they really need or if their buildings meet the criteria of their parent companies. Logically, another central concern is costs , since many companies have made significant adjustments. In this sense, we advise them by designing optimization strategies,” says Gonzalo Meira .
www.buysellba.com
Companies focus on the “efficiency” of spaces Pexels
“We understand that tenants are no longer just clients, but guests, with all that this implies,” says Speranza. “ Capturing and retaining talent is key to a company’s success , and the property that houses them is an essential part of that operation,” he adds.
Along the same lines, Motok says that Cushman & Wakefield also focuses on this type of “soft” services. “ We seek to find the identity for each building and we emphasize both the experience of tenants and owners. From the Facility Management perspective, the great challenge is to be able to identify and anticipate the needs and expectations of each client, since they are closely linked to the culture of each company,” he says.
Capturing and retaining talent is key to a company's success, and the building that houses them is an essential part of that operation.Herman Miller
Toribio Achával agrees with this view. “As part of the comprehensive advisory process, we offer our clients a diagnosis of the business culture and the role of the offices in retaining and recruiting talent. The result of this analysis will indicate a conceptual design, which will be the raw material for our interior architecture department to design the office layout that responds to and adapts to the company culture,” explains Reyser.
Comprehensive consulting is a clear effect of how new technologies have impacted work formats and the increasingly sophisticated demands of companies. Centralizing all services simplifies and streamlines complex processes that would otherwise require specialized personnel and result in higher costs.
Source:
La reinvención de un negocio inmobiliario que ya no solo se dedica a alquilar o vender
A partir del impacto de las nuevas tecnologías y los cambios acelerados en el mundo laboral, las empresas inmobiliarias no solo alquilan o venden espacios de trabajo sino que ofrecen propuestas 360° del negocio
www.lanacion.com.ar
September 10, 2024
Due to the impact of new technologies and accelerated changes in the world of work, real estate companies not only rent or sell work spaces but also offer 360° business proposals
By Sebastian Prats
With the changes in recent times, real estate companies not only rent or sell work spaces but also offer 360° business proposals Shutterstock - Shutterstock
There has been much talk in recent years about what would happen to the office market , especially with the expansion of remote work . Were companies going to reduce their square footage to the minimum possible to the point of turning corporate real estate into a marginal segment? Four years after the start of a pandemic that accelerated the home office trend , reality seems to indicate that those predictions of a world with large empty buildings and a deserted downtown have not only not come true, but the sector has managed to reinvent itself by providing much more comprehensive services .
Companies dedicated to the corporate market agree that the times when business was exclusively about the marketing of offices are long gone . While the full home office gave way to hybrid formats of in-person work and decentralization led to the emergence of new office corridors, real estate companies offer their clients construction management, maintenance and administration services, among others, thus getting involved in the entire life cycle of the property and even in the well-being of the staff .
“ Being involved in the day-to-day operation of buildings allows us to better advise owners ,” says Gonzalo Meira, Director of Transactions at JLL. “On the one hand, it reduces the possibility of problems, since we resolve everyday inconveniences. On the other hand, it allows us to identify possible improvements and thus provide tools so that the assets are better prepared and attract market demand,” he adds.
Proximity to clients and their needs allows corporate real estate companies to better understand market dynamics and advise developers from the start of construction so that they can minimize the risks of their ventures . “We do not limit ourselves to buying, renting and selling. It is essential to understand valuations, efficiently manage income and measure the fiscal impact of each decision, as well as the cost of the money invested and its return. In this context, we collaborate with investors, owners and developers in the genesis of the business, defining the product and modeling the development,” says Domingo Speranza, CEO of Newmark Argentina, another of the leading companies in the sector.4
The office market has managed to reinvent itself by providing much more comprehensive services Shutterstock - Shutterstock
Problems and solutions
This 360-degree view of the business involves other key services such as the remodeling of work spaces and what is known as Facility Management and Property Management , or in Creole, maintenance and administration , both of private offices and buildings.“In the Property Management area, we manage the common areas of multi-occupant buildings, while in the Facility Management area, we manage the facilities, focusing on each type of client. In an industrial warehouse, for example, the focus is more technical, while in a corporate office we look more at the users. Then, in the Project Management area , we are in charge of the management and administration of new construction, moving or remodeling projects, both for corporate and retail offices and for logistics and industrial properties,” explains Jeanette Motok, Regional Business Developer at Cushman & Wakefield.
Perhaps the great advantage of these comprehensive proposals has to do with the ability to solve any type of daily problem that may arise for their clients linked to work spaces . “One of the big issues today is the adaptation of offices. On the one hand, there are companies that redid the layout as soon as the pandemic ended and are already needing to review and modify it. And this point fits with the high cost of the investment that must be made to bring them towards efficient use and a modern layout. This is where new formats and proposals begin to appear , such as flex space , which is already a trend in the world,” says Alejandro Reyser, director of Commercial Properties at Toribio Achával.
Along the same lines, Motok points out that “in the Property area, clients usually arrive with inefficient management of the facilities, so that is where we have a great opportunity for improvement to minimize inconveniences and increase the capacity to generate quality information for decision-making.” The great challenge of Property Management , he says, is to reconcile the interests of a group of owners and occupants who usually have different objectives and points of view.
“ The most frequently asked questions and problems have to do with how to update an asset to make it competitive , how to position a property to attract and retain talent , and how to maximize results ,” says Speranza. “In these cases, a smart marketing strategy is not enough: you need a comprehensive view of the business, the cost of the operation, what the property offers and its comparative and competitive advantages. Understanding the market and the needs of demand is essential ,” adds the CEO of Newmark Argentina .
JLL also focuses on the “efficiency” of spaces . “In recent times, most of our clients’ problems focus on how to make their assets increasingly more efficient. They want to know if they are making good use of their spaces, if they have more or less surface area than they really need or if their buildings meet the criteria of their parent companies. Logically, another central concern is costs , since many companies have made significant adjustments. In this sense, we advise them by designing optimization strategies,” says Gonzalo Meira .
www.buysellba.com
Companies focus on the “efficiency” of spaces Pexels
A space of identity
Just as the search for more efficient workspaces is a very current concern for companies , and one that corporate real estate companies help to improve, remote work projected over time led many firms to revalue in-person work , especially in terms of reinforcing corporate culture and identity. This issue was also immediately noted and is today one of the most worked on aspects with their clients. Offices have now become tools to retain or attract talent .“We understand that tenants are no longer just clients, but guests, with all that this implies,” says Speranza. “ Capturing and retaining talent is key to a company’s success , and the property that houses them is an essential part of that operation,” he adds.
Along the same lines, Motok says that Cushman & Wakefield also focuses on this type of “soft” services. “ We seek to find the identity for each building and we emphasize both the experience of tenants and owners. From the Facility Management perspective, the great challenge is to be able to identify and anticipate the needs and expectations of each client, since they are closely linked to the culture of each company,” he says.
Capturing and retaining talent is key to a company's success, and the building that houses them is an essential part of that operation.Herman Miller
Toribio Achával agrees with this view. “As part of the comprehensive advisory process, we offer our clients a diagnosis of the business culture and the role of the offices in retaining and recruiting talent. The result of this analysis will indicate a conceptual design, which will be the raw material for our interior architecture department to design the office layout that responds to and adapts to the company culture,” explains Reyser.
Comprehensive consulting is a clear effect of how new technologies have impacted work formats and the increasingly sophisticated demands of companies. Centralizing all services simplifies and streamlines complex processes that would otherwise require specialized personnel and result in higher costs.
