Early on in a career, how does a bright, young mind choose between a profession in corporate real estate vs one in commercial real estate? Answer, we educate them. Taking on this task, ASU’s W.P Carey School of Business holds an eight session, non-credit, certificate class taught by corporate real estate practitioners who are members of CoreNet Global. I had the pleasure of being a guest instructor, alongside Chad Carter of Wells Fargo and Mike Brinkley of Land Advisors, to discuss how corporate real estate objectives must align with business objectives.
As presenters, our goal was to provide the students with three different perspectives during the session. Bank Corporate Real Estate professional, Chad Carter, discussed the bank process and procedures for doing a transaction. Healthcare Consultant, Mike Brinkley, presented two case studies on Land Acquisition for local hospital systems and lastly, I presented a case study on a lease acquisition in an offshore market.
Our presentation laid out a five step process, including program development, site selection, business point negotiations, contract negotiations and construction & follow-up. Within this process, my role is to assemble resources that provide unique information to the client; deliver the information in a timely, impactful and easy to comprehend format; and anticipate challenges and bring solutions. My advice to the audience – when you have quality and scope of information, this provide the client with decision-making confidence.
As an example, I presented Citrix Systems tech support service center facility requirement in San Jose, Costa Rica. I have represented Citrix Systems for nearly 10 years and they tasked me with securing a location that will accommodate 200 employees for a back-office tech support function. They needed an immediate/temporary facility for business start-up and recruiting with a long-term facility solution. I was able to accommodate the client’s needs and provide them with a best-in-class environment for optimal productivity in a high-quality, energy efficient building with reasonable proximity to employee housing, amenities and public transportation.
As I wrapped up and throughout my entire presentation, I conveyed to the audience that every business has two sides, the supply side and demand side. Without trying to sway anyone, I explained my decision to choose the demand side. Every business is different with different goals, objectives, management styles and structures. And like everything, every business is always changing and evolving. With that being said, the demand side of the business is much more of a “one size fits one” and this seemed more personal and dynamic, more consultative, to me.
Don Rodie has actively maintained a commercial real estate practice since 1984 and has been with Cushman & Wakefield since 1989. He is a founding member of the Cushman & Wakefield Tenant Advisory Group and manages the deployment of Cushman & Wakefield brokerage assignments and other service lines for corporate clients in virtually every major U.S. city and several international markets.