Oh no! The sky is falling in the city. Wait! Now the sky is falling in the suburbs.
As the economy improves, there seems to be a growing concern corporations and companies are fleeing suburban campuses for the urban high-rise. Looking past the trend, these market dynamics foster the ingenuity and moxie of successful building owners and corporations to reposition or repurpose buildings within their real estate portfolio (regardless of location) for relevance in the market.
As an engineer, I see this dynamic as a catalyst for helping real estate owners discover value throughout the region and remain attractive for the next prospective tenant. Over the next couple of months, I will expand on this concept with some examples where repositioning or re-purposing real estate was successful regardless of location: City or Suburb.
See Raj’s post on repositioning / repurposing: Vision, Creativity, and Collaboration: Finding Opportunities to Decrease Vacancy Rates in the City and Suburbs
Raj Gupta will be welcoming the audience at Crain’s Real Estate Forum on September 11, 2013. The topic is: Suburban office market: Hopeless case or ready for recovery?
See Raj’s thoughts on the global implications of working locally in High Performance in a Global Economy.