Net-Net - 09.14.2010 Tomorrow is the second anniversary of Lehman Brothers bankruptcy filing. It has been a tumultuous two years since that incredible weekend when the global banking system faltered at the brink of a meltdown. The repercussions on the world economy have been almost as dramatic as during the Great Depression, and the aftershocks continue today as the US economy struggles to fully recover. On the real estate front the business landscape continues to adjust to the market reset. There is an interesting trend that is beginning to follow historical patterns and is important to watch. Big firms are getting bigger. The major players such as commercial-service companies, healthy investment platforms and operating companies are getting bigger and more globally dominant through mergers and the acquisitions of smaller firms or teams. On the other hand, small, innovative niche platforms are emerging to fill in the gap left by the middling businesses that have been shut down or merged out of existence. Mid-level boutiques are a dinosaur of the past. These new emerging enterprises will gain strength and present a formidable alternative in the real estate space in which they serve and operate.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

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