The requested news item does not exist. Please return to News
JLL global survey reveals “pressure cooker” of expectations for corporate real estate teams
SINGAPORE, LONDON and CHICAGO, June 22, 2015 – Skyrocketing C-suite demands for productivity are creating a “pressure cooker” of expectations for corporate real estate (CRE) teams worldwide, reveals a new JLL global survey. Although the CRE function is rapidly maturing, its transformation from tactical manager to trusted advisor is far from complete.
JLL’s third biennial Global Corporate Real Estate Trends survey shows that CRE teams are now even more challenged to transform their roles from order takers to order makers. More than half of respondents to the survey report even greater C-suite expectations in nearly every category. A concerning 15 percent say that they are poorly equipped to meet the increased demands—a proportion that has doubled since 2013.
Tracking insights from 544 CRE executives in 36 countries, the 2015 survey details the C-suite’s growing recognition of CRE and the corresponding pressure on CRE teams.
“Demands on CRE teams are unrelenting. The C-suite simply will not accept ‘we’ve always done it this way’ for an answer any more and they shouldn’t,” said John Forrest, JLL CEO of Corporate Solutions, Americas. “C-suite executives are demanding office space that make employees more productive, and expect CRE executives to use sophisticated data and analytics to make their global facilities portfolios highly efficient. Many of these demands require CRE executives to speed up their pace of change, and get out of their comfort zones.”
Great expectations A central theme in JLL’s last Global Corporate Real Estate Trends survey in 2013 was the intense pressure on CRE teams to deliver against a broad range of tactical and strategic tasks. The percentage of those who say they are “well-equipped” has fallen from 28 percent to 17 percent. Lack of access to data and analytics was the top-rated constraint limiting further development of the CRE function.
Reducing costs is an underlying concern for CRE executives but the overarching demand of senior leadership concerns strategic engagement. Top C-suite demands include:
Forrest suggests five ways CRE teams can expedite transformation of the CRE function:
“Corporate real estate teams must deliver with a more efficient and business-aligned approach that prioritizes data science, proactive leadership and predictive analytics,” said Forrest. “Without this shift, CRE teams will remain trapped in the past.”
To request a full copy of the survey report, visit www.jll.com/globalCREtrends. Social media users can also engage in the conversation about the future of corporate real estate on Twitter using #CRETrends.
A leader in real estate outsourcing, JLL’s Corporate Solutions business helps corporations improve productivity in the cost, efficiency and performance of their national, regional or global real estate portfolios by creating outsourcing partnerships to manage and execute a range of corporate real estate services. This service delivery capability helps corporations improve business performance, particularly as companies turn to the outsourcing of their real estate activity as a way to manage expenses and enhance profitability.
About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
+1 312 228 2233
+1 224 619 2190