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Now that some of the fear that has gripped the industry over the past two years is abating, there is a renewed emphasis on getting back to the basics of business. Commercial real estate is moving toward the old-school type of investing-when real estate meant bricks and mortar, not just a quickly traded, sliced and-diced commodity. A key component of that is asset management, explains Susan Smith, director of PricewaterhouseCoopers’ real estate advisory practice in New York City.

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