Cushman forum addresses the future of commercial real estate

A team of institutional commercial real estate investors are set to meet in New York tonight to discuss the potential held by the reinvention of obsolete office properties. These spaces, it will be explained, represent promising new business opportunities.

The forum, organised by Cushman & Wakefield and the Edward J. Bloustein School of Planning & Public Policy, will showcase a so-called “adaptive re-use” of developments. The presentation at the invitation-only forum, “The Future of Suburban Office Campuses” will reflect the fast-paced, technology-centric demands of younger employees. The contemporary desire to work in an urban setting, close to transport and retail amenities, will also be addressed.

“This forum is not just about observing this phenomenon, this paradigm shift” said Gil Medina, Cushman’s executive managing director, “but to highlight developers who have been pioneering by going into these types of assets and repositioning them.”

The developers, operating primarily in New Jersey, will be showcasing a range of solutions to maximise productive usage within commercial real estate properties. A large number of Manhattan-based financial institutions have commercial real estate in New Jersey, hence Cushman’s decision to showcase the work of the developers in this location.

“We wanted to make sure the investors had an opportunity to consider some of the exciting pioneering work that’s being done by New Jersey developers,” Medina said.

The design considerations, though still to be seen, will likely define a scaled-down, area-efficient workplace, as described in the recent Cushman paper. Many corporate businesses are downsizing to smaller, cost-effective real estate and, when coupled with the growing trend for agile workspaces, it seems a probable topic for debate at the forum this evening.