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Commercial Real Estate Pro Network

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss todays opportunities, problems & solutions in Commercial Real Estate.
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Now displaying: Page 1
Apr 12, 2022

J Darrin Gross

If you're willing, I like to ask you, Zack Flora, what is the biggest risk?

 

Zach Flora 

Yeah, Darrin, absolutely. And I'm going to come at it from the point of their real estate community. And there's this growing need to be able to kind of measure and implement green and healthy building initiatives. And I think the biggest risk to the real estate community today is to not understand what it means to be a healthy building, not understand what it means to what those concepts are around creating a healthy building and to neut to narrowly focus in on kind of one set of aspects. So if it's an industrial to narrow to narrowly focusing on maybe things like workplace injury or commercial office space, to narrowly focusing on things like indoor air quality, or to say we're doing energy efficiency, and that's going to be enough. Being the healthy buildings are this idea of healthy buildings are relatively new, even though the evidence base has been around for for 100 years, companies and the real estate community specifically, they need to understand exactly how their buildings are performing against a set of related metrics. So that they can begin to figure out how to manage and measure the risk related to health. And, you know, we can come back to that, that office environment, we have low occupancy rates, still, we're struggling to get people back into the office, if you don't know how your properties are actually impacting health right now, you're not going to be able to make the effective changes to build that trust and reduce and mitigate that risk moving forward, you're not gonna be able to figure out how do I prevent reduced occupancies in the face of maybe a future contagious or respiratory infectious disease outbreak like COVID-19, we are not going to understand how do I control for mental health issues and social equity issues that my employer that my tenants and their employees are asking about. So not being able to kind of look at the broader picture, understanding where you are, where you're starting from. So you can make a really strategic and informed plan moving forward is, I think the biggest risk to saying you're not gonna be able to see some of the returns we talked about, unless you know exactly where you're starting from and setting goals and being able to meet them, you're not going to be able to see those kind of the suitability of tenants, you're not going to see that return on investment. Because maybe you were too narrow in your focus, or maybe you didn't know where to start, and you didn't know where you are. So you didn't start appropriately, in kind of retrofitting or designing or implementing healthy buildings in your culture.

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