Evolving Workforces
Utilization has leapfrogged cost as the most common performance metric
CBRE & CoreNet Global surveyed 186 real estate executives on their management practices. Here is what we found.
February 27, 2023 3 Minute Read
About this study
Participate in CoreNet Global and CBRE’s 2023 Research: Managing Corporate Real Estate
CBRE Institute and CoreNet Global have partnered for many years on a longitudinal research project, which monitors both the established and emerging practices within the Corporate Real Estate (CRE) industry. This year’s study surveyed 186 CRE leaders during the latter half of 2022. Respondents oversee combined portfolios of nearly 1.6 billion square feet worldwide, with an average CRE organization of 173 full-time employees and an average portfolio size of 17.2 million square feet.
Additional insights will be released in a 5-part series throughout Q1 2023.
This segment focuses on portfolio strategy.
Overarching Themes
Key portfolio strategies include consolidation, analysis of remote work's impact, and increased use of flex space.
The majority of respondents expect a decrease in space allocation per worker in the future.
Utilization rate has become the most common metric for guiding CRE operations and performance—leapfrogging both occupancy costs and employee engagement/satisfaction.
Anticipated portfolio strategies
Many CRE leaders are undertaking portfolio strategies such as consolidation, analysis of remote work's impact and increased use of flex space.
These results are consistent with last year’s survey, with the addition of evaluating new markets to gain access to new talent pools.
What portfolio strategies are CRE considering over the next 12 months?
Please select all that apply.
Source: CBRE and CoreNet Global annual study, Dec. 2022.
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Real estate footprint over the next five years
Future of office density
Utilization tops all other metrics
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