Times have changed in corporate real estate. And Marcus Rayner wants to spread the word about an organization he thinks can help professionals make sense of the world of modern business.
Over the past 20 years, the work of corporate real estate managers has shifted from focusing mainly on individual deals to a broader, more strategic oversight of often far-flung and diverse portfolios, the outgoing chairman of CoreNet Global’s New York chapter says.
At the same time, the way that companies interact with their space continues to change amid growing interest in both employee productivity and environmental efficiency.
“They need to know about human resources, and they need to know about technology and it’s impact on the workplace,” he said.
While the Real Estate Board of New York, of which Rayner, founder of Cresa New York, is also a member, focuses on advocating for and supporting landlords and property owners, Rayner said, CoreNet advocates on behalf of the tenants and occupiers who use commercial space.
The organization has more than 700 members in New York, 40 percent of whom represent end users, with the balance being made up by service providers, from brokers to architects and movers.
In addition to networking, CoreNet offers a variety of educational and professional development opportunities.
Upcoming events include workshops on air-conditioning and the U.S. Green Building Council’s new LEED standards, but also an invitation-only seminar on “managing up,” with advice for corporate portfolio managers who want to influence the actions of higher-ranked executives.
Brokers need to develop their skills and knowledge along with in-house corporate real estate professionals, Rayner says, in order to help their clients make the best decisions.
“How do you help a law firm decide what to do with its real estate?” Rayner said. “You can’t just say here’s the best deal. How do you know what that is unless you understand how the space will be used.”
Rayner has spent the past year working to help build membership and raise awareness of CoreNet’s tenant-focused mission.
In the process, he has compiled a list of statistics he rattles off with pride.
Fifty percent of the Fortune 500 members based in New York are CoreNet members, Rayner says, as are two thirds of the largest financial firms and 60 percent of the largest publically held companies.
In fact, according to Rayner, 80 percent of all transaction over 50,000 s/f in New York City last year involved CoreNet member firms as a tenant, landlord or occupier.
“CoreNet members are the decision makers in corporate real estate,” Rayner said.