Canadian Corporate Real Estate Executives Facing a New Reality of Labour Shortages, Complex Location Decisions, Carbon Footprint Accountability



    TORONTO, July 23 /CNW/ - According to CoreNet Global's 2008 State of the
Industry Report, competition for a reduced labour pool, worker-centric
location decisions and the sustainability wave are the future of Corporate
Real Estate (CRE).
    The 2008 State of the Industry report - a compilation of research
findings from over the past year and the views of industry leaders - concludes
that global business forces have catapulted corporate real estate executives
from tacticians to influencers in the C-suite. Such forces include:

    
    -   Ongoing expansion and integration of the global economy, including
        mergers and acquisitions to enter emerging markets
    -   Monetization of real estate assets and the globalization of real
        estate investment funds, equities and trusts
    -   Continued advances in technology
    -   Impact and awareness associated with energy costs and carbon
        reduction, as well as the brand stigma of waste
    -   The multi-generational mix in the workplace
    -   The global war for talent as baby boomers enter retirement
    

    Peter Icely, President, CoreNet Global Canadian Region says that despite
a less volatile economy than other countries, these findings are in line with
the new realities of the Canadian marketplace. "Canada typically does not
experience the high and lows of other economies, but we are seeing these same
trends having an impact on strategic planning on the part of CRE
professionals. The biggest issue we face is labour shortages and the
competition for the knowledge worker of the future. It is increasingly evident
that CRE professionals need to look at more innovative ways to design
strategies and workplaces in order to secure a competitive advantage for
attracting today's talent."
    The report describes an increasingly complex role for corporate real
estate executives:

    
    -   They have a 'balcony view' of the enterprise
    -   Are providers and integrators supporting the C-Suite, business units,
        other internal shared functions like Human Resources and IT
    -   Support the business, not real estate
    -   Increasingly come from other parts of the corporation
    

    "Corporate real estate executives play an integral role in helping
organizations deal with labour, globalization and environmental issues," Icely
says. "These are the new realities that require a broader perspective and
highly integrated skill sets at the C-level."

    About CoreNet

    CoreNet Global members manage US $1.2 trillion in worldwide corporate
assets consisting of owned and leased office, industrial and other space. With
7000 members representing large corporations around the world, CoreNet Global
operates in five global regions: Asia, Australia, Europe, Latin America and
North America, including Canada. For more information visit
www.corenetglobal.org





For further information:

For further information: Media Contact: interviews or a copy of the full
report, please contact Kathryn Boothby at (905) 330-0943 or
kmboothby@sympatico.ca

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CORENET GLOBAL CANADIAN REGION

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