Haworth hosts an expert discussion with insights on inflation and market fundamentals, as well as the biggest economic challenge of the next decade.
November 9, 2022 – Despite inflation, the fundamentals of real estate are really good and, in some areas, they’re exceptional. That’s one reason the economy is better than you think it is, says Spencer Levy, Global Client Strategist and Senior Economic Advisor for CBRE, the largest commercial real estate services firm in the world.
Haworth Connect recently hosted Levy for a webinar about the state of the commercial real estate market. He shared his insights on inflation, market fundamentals, capital markets, construction and key strategies for investors and occupiers. The recorded webinar is available here.
“I’m very bullish on the future of office properties, but the future of the office is changing. The future of the office is changing by, first and foremost, location. People are moving into what I call better business districts, or BDDs, versus CBDs (commercial business districts),” Levy said.
The difference between the business districts is that BDDs have live-work environments around things like universities or venture capital. An example BDD in Chicago is the West Loop or Fulton Market neighborhoods, which are seeing an increase in office activity. Three years ago, the Fulton Market represented 5% of all leasing activity in Chicago. Today, that’s 25%.
“The point is, is that if you put your offices in these live-work-play areas, it’s going to be not only fine, but it’s also going to thrive,” Levy said.
Both future and past Haworth Connect events are available here.