REAL ESTATE TIP OF THE WEEK: GLOBAL VIEW OF REAL ESTATE
Sure, it is easy to look only at the total amount of real estate you want to own or lease. It is also easy to only look at the economics associated with your choice. However, before one even looks at real estate options, a strategic review is necessary. You want to ensure that your real estate and business goals can be aligned.
Certainly, economics (costs) are PARAMOUNT, but what other aspects of your occupied real estate significantly impact your business operations? For example; productivity, efficiency, growth, access to labor, and ability to attract and retain top talent are all influenced by real estate decisions. Attracting and retaining top talent, a key concern for most businesses, can be enhanced or diminished by the wrong real estate strategy. Employees and visitors want amenities such as restaurants, walking paths, public transportation, and public spaces.
There can be a delicate balance between the human resource aspects of real estate and the hard economics of the bottom line. A clear and well-articulated strategy makes this balancing act much easier when looking at real estate options.
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