The Weekly Take from CBRE

Mexico’s industrial real estate market is benefiting from the need for more resilient supply chains. PGIM’s Enrique Lavín, DHL’s Guillermo Espinosa Armendáriz and CBRE’s Yadira Torres-Romero explain the advantages and challenges of nearshoring. Insights to Share:

Fried Frank’s Jon Mechanic and Michael Werner—attorneys steeped in the in’s and out’s of New York City dealmaking—share thoughts on the office market, affordable housing, recent legislative changes and much more. Insights to Share:

What’s attracting young people, businesses and investment capital to Nashville? Highwoods’ Alex Chambers and CBRE’s Elizabeth Goodwin explain how the Music City has created a cool culture. Insights to Share: · Nashville has attracted talent and businesses due to its affordability and high quality of life. · Nashville’s local government has fostered the city’s growth by investing in entertainment and sports, prompting a surge in related industries, as well as tech and retail. · With growth poised to continue, driven by the influx of new residents, Nashville offers an opportunity for private investors to buy Class B office properties.

With the U.S.’s fourth-strongest labor market and massive live-work-play appeal, Tampa, Florida is one of the country's hottest real estate markets according to a recent Wall Street Journal analysis, Tampa investor/developer Darryl Shaw and CBRE’s Mike DiBlasi explain how the city has become a magnet for institutional capital, expanding employers and top talent and what other mid-size markets can learn from it. Insights:

In a wide-ranging discussion, RXR CEO Scott Rechler opines on everything from the future of cities to leveraging AI in decision-making to office-to-multifamily conversions. Insights to Share: · Commercial real estate investors can find opportunity in a higher-cost environment. · The outlook for office is brightest in areas where talent wants to live, work and play. · RXR uses market intelligence combined with data to inform their strategies. Key data sources include VTS, cell phone activity, AI and predictive analytics.

“What Do You Want to Do Before You Die?” asks celebrity author Ben Nemtin in his best-selling book of 100 bucket list items. Ben shares thoughts on finding your purpose, protecting your mental health and achieving your most ambitious goals. Insights to Share: · Overcome fear. People who avoid taking risks because they are afraid to fail can often fall short of their goals. Empowering people to be their true selves is a critical component of a strong work culture. · Set ambitious goals. People who set ambitious goals for themselves are more likely to be successful in careers and life. · Take action. It is not enough to simply set goals; people need to act on them. Small steps forward create positive momentum.

Real estate investment markets are stirring after an extended pause, and capital may be ready to come off the sidelines. KKR’s Roger Morales and CBRE’s Kevin Aussef share insights on what assets, strategies and markets stand to benefit from an expected pick up in commercial real estate activity later this year.Real estate investment markets are stirring after an extended pause, and capital may be ready to come off the sidelines. KKR’s Roger Morales and CBRE’s Kevin Aussef share insights on what assets, strategies and markets stand to benefit from an expected pick up in commercial real estate activity later this year.

Student housing has become a darling of the multifamily asset class. Real estate investor Brian Dinerstein and CBRE’s Jaclyn Fitts explain how the sector has bounced back from pandemic-era challenges and offers enticing opportunities for investors. Insights to Share:

Growth strategist Rebecca Homkes delivers insights and ideas for companies navigating a challenging economic landscape. With wit and real-world examples, she challenges leaders to think of uncertainty as a neutral and temporary state – and where that line of thinking can lead. Insights to Share: · Survive, Reset, Thrive is a playbook for fortifying companies through times of change and challenge. · Market uncertainty is neither good nor bad. It is a neutral fact to be dealt with. · Companies who are willing to think creativelyare more likely to emerge from challenges successfully.

What’s the best way to prepare for a thriving commercial real estate career today and in the future? Leaders of real estate programs at the University of North Carolina, Ohio State and Clemson enlighten us. Key Takeaways: • Learn to be resilient and flexible. • Interdisciplinary approaches provide a broad real estate education. • There is a history of collaboration between higher education systems and the commercial real estate industry. • Experiential learning is an effective way to build skillsets. You’ve got to do the thing! This Episode's Guests Dustin Read, Ph.D. Director, Master of Real Estate Development Program, Clemson University Dustin leads the Master of Real Estate Development Program at Clemson University. Previously, he was involved in leadership in the real estate programs at Virginia Tech and the University of North Carolina at Charlotte. Some of his research interests include affordable housing, land use policy, and public-private partnerships. Dr. Read is a NAIOP Research Foundation Distinguished Fellow, an inductee into the Institute of Real Estate Management’s Academy of Authors, and a seven-time recipient of honors from the American Real Estate Society for his contributions to real estate theory and practice. Donald D. Sheets Executive Director, The Ohio State University Center for Real Estate Donald has over two dozen years of leadership experience on Wall Street across several investment management firms, one of which he founded nearly a decade ago and recently sold. In addition to leading the Center for Real Estate at The Ohio State University, he also is on the faculty at Harvard University and serves as Chair of the Harvard Alumni Real Estate Board. His predecessor faculty appointments were at Columbia University, New York University and Auburn University. Jeff Tucker Executive Director, Wood Center for Real Estate Studies, University of North Carolina Kenan-Flagler Business School Jeff is new to his role leading the real estate program at the University of North Carolina, having started in mid-2023. Tucker has more than 20 years of experience in private equity, with the last 16 focused on real estate. He most recently served as co-chairman and CEO of Century Bridge Capital, a firm based in Beijing and Dallas that is focused on middle-class residential developments in China.

Deepki CEO Vincent Bryant and CBRE’s Emma Buckland share insights on how data analytics helps property owners attract tenants, meet sustainability goals and enhance asset values. Insights to Share:

Despite widespread adoption elsewhere in the world, modular construction has been slow to take hold in the U.S. Assembly OSM CEO Andrew Staniforth makes a compelling case for the construction technique’s affordability, sustainability and speed—as well as reasons why the practice is still in its infancy domestically. Insights to Share: “Naturally occurring affordable housing is just an Econ 101 problem like supply and demand. The more housing that you build, it will lower the price. And I think as we start getting to scale, we hope to be able to move the market.” Andrew Staniforth CEO Assembly OSM

One’s an office occupier—Orrick’s Laura Saklad—and the other’s an office investor—CBRE Investment Management’s Julie Ingersoll. From opposite sides of the table, they discuss how property investors and occupiers can work together to facilitate return-to-office strategies and make the workplace a magnet for talent attraction and retention. Insights to Share: · Successful office occupancy strategies are about balancing employee flexibility with collaboration and professional development opportunities. · The surrounding neighborhood is an important amenity for office space. · The pandemic has brought landlords and tenants closer together, changing the relationship from adversarial to a partnership. Laura Saklad Chief Operations Officer Orrick Laura is responsible for leading and directing all operational functions of Orrick, a law firm with more than 25 global offices. She works closely with the Orrick’s Board and Management Committee to execute the firm’s strategy. Julie Ingersoll Chief Investment Officer Americas Direct Real Estate Strategies CBRE Investment Management Julie joined the firm in October 2021 from CPP Investments, an approximately $500 billion Canadian Pension Plan, where she was Managing Director overseeing portfolio strategy design and execution for 50 million square feet of U.S. residential and retail investments. At CPP, Julie focused on core-plus, value-add and development risk profiles, leading efforts across the investment lifecycle from identifying new strategies, originating and structuring joint ventures, acquisitions, asset management and dispositions.

One’s an office occupier—Orrick’s Laura Saklad—and the other’s an office investor—CBRE Investment Management’s Julie Ingersoll. From opposite sides of the table, they discuss how property investors and occupiers can work together to facilitate return-to-office strategies and make the workplace a magnet for talent attraction and retention. Insights to Share: · Successful office occupancy strategies are about balancing employee flexibility with collaboration and professional development opportunities. · The surrounding neighborhood is an important amenity for office space. · The pandemic has brought landlords and tenants closer together, changing the relationship from adversarial to a partnership. Laura Saklad Chief Operations Officer Orrick Laura is responsible for leading and directing all operational functions of Orrick, a law firm with more than 25 global offices. She works closely with the Orrick’s Board and Management Committee to execute the firm’s strategy. Julie Ingersoll Chief Investment Officer Americas Direct Real Estate Strategies CBRE Investment Management Julie joined the firm in October 2021 from CPP Investments, an approximately $500 billion Canadian Pension Plan, where she was Managing Director overseeing portfolio strategy design and execution for 50 million square feet of U.S. residential and retail investments. At CPP, Julie focused on core-plus, value-add and development risk profiles, leading efforts across the investment lifecycle from identifying new strategies, originating and structuring joint ventures, acquisitions, asset management and dispositions.

Some companies are finding success by applying retail practices to heathcare delivery. DaVita Kidney Care’s Peter Berkowitz and Prince Reed enlighten us on how their location and facilities strategies are supporting a rapidly growing business. Insights to Share:

What commercial real estate stories will make headlines this year? Diana Olick knows. The CNBC reporter talks interest rates, work from the office, the future of cities, climate strategies and more. Insights from CNBC’s Diana Olick:

What will the future office look like? Ask an interior designer. ThinkLab’s Amanda Schneider offers insights on how organizations can use design to support everything from hybrid work strategies to employee health and safety and from sustainability to portfolio optimization. Insights to Share:

CEOs of The Office Group and Industrious discuss the flex space office market in the wake of WeWork’s high-profile bankruptcy. Insights to Share:

U.S. Air Force veteran and consultant DeDe Halfhill discusses effective leadership qualities, debunks management myths and shares tactics for team-building and improving productivity. Insights to Share from DeDe Halfhill: · Creating a culture of open feedback is incredibly important for those in leaderships roles but often hard to achieve given the power differential with subordinates. · Empathy is critical to good leadership. · The effective integration of diversity is a critical skill for future leaders.

With many commercial real estate investors in a wait-and-see mode, Rob Finlay, author and founder of Thirty Capital, expounds on opportunities to create value using data analytics to optimize property performance. Insights to Share from Rob Finlay: 1. Waiting for rates to drop is not a good strategy for real estate investors. Instead, they should focus on managing their assets and debt effectively. 2. Innovation will be a key to success in an environment featuring sustained higher interest rates. 3. Both human intelligence and Artificial Intelligence play a role in helping investors to understand—and meet—market needs.