Corporate Restructures A byproduct of the great recession is the restructuring of how companies think about, plan for, and deal with their often massive real estate positions in the form of leases, owned real estate, and a broad range of facilities services (food, mail, procurement, etc). Historically, corporate real estate was a third-rung cost center, but that’s all changing, big time. Corporations have become sharply focused on the extraordinary impact real estate has on the balance sheet and bottom-line results. Across all industries, CEO’s are getting aggressive about change management and new approaches to what is now recognized as a core element of their business. At the same time, M&A activity, such as the Pfizer/Merck merger , and corporate failures such as Lehman, jettisoned an incredible array of talent into the market. This mix of cutbacks and restructuring, realignment, new directions, excess human capital, and for many of the largest corporations, challenging expansions throughout AsiaPac, is creating one of the most dynamic real estate stories in history, and with it, the repositioning and retooling of corporate real estate talent, both inside the company and with its service providers.

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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