The Weekly Take from CBRE

Commercial real estate offers many different career paths. Learning how to overcome challenges and finding the right mentors are key to success in all of them. Trailblazing executives including Laura Clark (Rexford Industrial), Barbara Perrier (CBRE) and Elisabeth Troni (CBRE Investment Management) shared personal anecdotes and sage advice during CBRE’s recent Power of WE conference.Share these insights on pillars of a successful CRE career: Lead with integrity:Making decisions that may be contrary to your immediate financial gain builds trust and loyal, long-term clients.Seek out mentors and feedback:Mentorship is crucial for career development and informal feedback fosters skill enhancement.Challenge the status quo: Questioning traditional norms can lead to progress and achievement. Say yes to new challenges and opportunities.Balance flexibility with visibility in the workplace:Flexible work arrangements can be beneficial, but being present in your professional environment is also key to advancement.Favor unity over separation of your work-life:Completely separating professional and personal time is hard, whereas embracing work-life unity means emphasizes purposeful engagement while in both spheres.

Mary Ann Tighe, CEO of CBRE's New York Tri-State Region, discusses Manhattan's ongoing transformation. Drawing on decades of commercial real estate deal-making experience, Mary Ann discusses the resurgent office leasing market, office-to-residential conversions and long-term opportunities.Anticipated Market Transformation: Investors should prepare for a major shift in New York’s office market, reminiscent of the historic changes that occurred in the 1920s.Long-Term Leases: Despite the rise of remote work, many New York City businesses want to sign long-term leases due to the high costs and complexities of space renovation.Investment Opportunities: New York has significant opportunities to convert antiquated office buildings into residential or mixed-use properties.Government Incentives: Understanding and leveraging government tax incentives can be crucial in making redevelopment projects financially viable.Cultural Edge: New York's creative energy and foremost cultural and social amenities remain a strong draw for people, businesses and capital. This enables the City's resilience and continuous evolution.

Over 12 million people a month check The Points Guy for tips on making the most of their travel experiences. Brian Kelly, TPG himself, teams up with CBRE’s Hotel Research lead Rachael Rothman to explore the latest trends in loyalty programs, what hotel brands can learn from airlines and credit cards, and how you can get into that airport lounge. Insights to Share: Loyalty programs are growing in importance to operators of hotels, airlines and credit cards, many of whom have partnered to increase brand awareness and reach.The proliferation of loyalty program participation is, in some cases, diluting the benefits, but savvy consumers can maximize points by having flexible travel dates and using websites such as point.me to compare redemption value at different airlines and hotels.One way to create brand loyalty is to provide flexibility and a customized experience. Instead of waiting until guests arrive, hospitality brands should reach out in advance and offer access to local guides, spas and restaurants.

Two tech talent experts—New Enterprise Associates’ Darcy Casarella and CBRE’s Colin Yasukochi—discuss where to find highly skilled tech workers, the role of venture capital in shaping tech hubs and AI’s influence on office space demand.Share these insights from this week’s episode: 1. Strategic Location Strategy: Emerging tech markets in the Midwest and Southeast can offer significant cost advantages with their growing tech talent pools.2. AI and Talent Focus: Prioritizing AI capabilities to drive innovation and growth will mean finding and upskilling talent quickly across both tech and non-tech companies.3. Concentrated Venture Funding: Venture firms are creating a network effect by investing in new businesses in traditional tech hubs like San Francisco and Manhattan. Understanding the flow of venture capital can help predict the cities in which real estate demand will grow.