IRVINE, CA—Millennials have created arevolution in the commercial real estate industrywith their fresh and unique approach to life and their shiftingpriorities in the workplace, at home and in their leisure time.GlobeSt.com spoke exclusively with CRE experts about the mostsignificant ways Millennials have changed the face of the industry.Stay tuned for an upcoming feature story in Real EstateForum about this cohort's influence on commercialreal estate.

GlobeSt.com: What do you feel is the mostsignificant way this demographic has changed the face of commercialreal estate?

Stanley Iezman, CEO and chairman, American RealtyAdvisors: Millennials are significantly affecting theface of multifamily housing in a variety of ways.First, the changing life cycle of Millennials—i.e., getting marriedlater, having children later, as well as their sheer numbers—hascreated significant demand for multifamily from Millennials. Theirpreferences have impacted design of multifamily housing, whether itis the addition of bike repair/service rooms,Wi-Fi throughout properties or larger socialcommon areas (that sometimes look like the inside of the latesttech firms) with foosball tables, Internet-ready big-screen TVs andcoffee bars. Millennials are even indirectly impacting industrialas they have a higher propensity to buy online and demandjust-in-time delivery, increasing the demand from e-commercecompanies for local industrial distribution centers. Millennials,like the Baby Boomers, are a game changer. Winningtheir game depends on how one understands and responds to theirunique needs.