Utilizing Your Real Estate to Support/Implement Change

Transcription

1 May 22-25, 2016 Los Angeles Convention Center Los Angeles, California Utilizing Your Real Estate to Support/Implement Change Presented by Elizabeth Cooper, J.D. & Christopher C. Murray, III, AIA, LEED, ID+C OM20 5/24/2016 8:00 AM - 9:15 AM The handouts and presentations attached are copyright and trademark protected and provided for individual use only.

2 UTILIZING YOUR REAL ESTATE TO SUPPORT AND IMPLEMENT CHANGE May

3 Agenda duction duction Elizabeth Cooper Chris Murray 1 Balancing generational differences 4 of generations changes and challenges 2 5 and cost benefits Building, location,lease Design, space 3 6 Elizabeth Cooper Esq. 27 years of experience in portfolio management, transaction management and strategic portfolio leadership for law firm clients Awards / affiliations: Named one of Diversity Journal s Women Worth Watching (August, 2015) Real Estate Forum named Elizabeth a Women of Influence (Nationally, 2013) and a Top 20 Leasing Broker (Nationally; 11/2015) Washington Business Journal (WBJ) named her a Women Who Means Business, Metro Area (2013) Named as one of DC s Power Women in Commercial Real Estate by Bisnow(2014) Guest Lecturer-University of Virginia Law School/Business School Education: Catholic University (Columbus School of Law), J.D. Amherst College, B.A Economics; London School of Economics Chris Murray AIA, LEED ID+C 36 years of experience in architecture, strategic planning, benchmarking, trend analysis and project coordination for law firm clients Awards / affiliations: Registered architect, NCARB Certified, and member of the American Institute of Architects USGBC LEED ID+C Accredited Professional Elected first architect as a Fellow of the College of Law Firm Management Named a Trailblazer and Pioneer by the National Law Journal(2013) Faculty member Johns Hopkins University - Carey School ofbusiness Education: John Hopkins University (MS in RealEstate) University of Notre Dame (Bachelor of Architecture) - Studied in Rome for full school year 3 4 2

4 Key issues that impact your real estate Workforce breakdown by generation Work styles Technology Electronic imaging Client demands 26.3% Not yet in workforc e 20.5% 19.9% 23.9% 9.3% Leaving / left workforce Gen Z < 20 Millennials Gen X Boomers Seniors 70+ Much of this is driven by generational differences Millennials have a big impact! Nearly 47% of Americans are 34 years old or younger 5 Source: JLL Research, Bureau of Labor Statistics 6 3

5 Millennials (age 20 34) Generation X (age 35 49) Technology driven / mosteducated Technology competent Appreciate diversity in their work, not siloed Self-driven / independent Flexibility in work style Value productivity / revenuegenerators Relaxed work environment / share information Achieving goals is mostimportant *Influence on knowledge work being embraced by workersof all generations *Most studied and analyzed generation Like team efforts / regular face-time / mentoring Want instantaneous response Less loyalty to employers / independent / low tolerancelevel Delaying starting families avoiding responsibility With the heavy focus on Millennials and Baby Boomers, little attention has been paid to this generation who are moving into leadership roles within theirfirms Work / life balance is important Not mentors more blunt andstraightforward Less loyalty to employer / freeagent Adaptable problem solvers Millennials getting most attention Because this group is large, outspoken and are following the departing babyboomers Filling the retiring Baby Boomers leadership positions Steelcase study 7 8 4

6 Baby Boomers (age 50 69) Distribution of Partners by years of experience Adaptive / open to change Process and goal oriented Team players / builders (mentors) Percent of Equity Partners For the 12 month period ending 12/31/14 49% Gen X 51% Boomers Avoid conflict, more diplomatic Phased retirement / aging inplace While the expectation was that with their financial successthey would retire early, this has not happened Community involvement Loyalty to employer Motivated by perks & prestige (large office) Perceived as less competitive / more collaborative 19% 18% 18% 17% 16% 11% 2% < >35 Years of Experience Many are retired and more will retire in the next decade Equity Partners Gen X are almost equal to the Baby Boomers 9 Source: PricewaterhouseCoopers LLP 10 5

7 and cost benefits Building, Location, Lease Location Your Real Estate can provide solutions and potential cost benefits which fall into two broad categories: Building, Location, Lease Space, Design Access to public transportation Building amenities Close to retail and residential

8 Building, Location, Lease Building, Location, Lease Building access Parking, bike rack Building amenities Fitness center Security Daycare Easy access Outdoor areas

9 Building, Location, Lease Building, Location, Lease Building criteria Window line Building systems HVAC Column spacing Electrical & lighting Sustainability Communications

10 Building, Location, Lease Building, Location, Lease Lease Lease term Flexibility to grow and contract Capital expenditure Lifestyle support will increase in importance Building infrastructure needs will continue to grow Quantity of space leased will continue to fall

11 Space, Design Space, design Client areas Conference center Food area, servery Entertaining spaces Space Design Supporting the business process Positively influence the culture Accommodating the appropriate technology and tools Flexibility to change Branding, image Support processchange Video conference / Skype important for off-site personnel 19 Photos courtesy of HYL ARCHITECTURE 20 10

12 Space, design Space, design Practice areas Offices Administrative assistants Other staff Retired partners and visitors Offices Support Hoteling Private areas to support discussions or brainstorming without interruption? What is their real need?

13 Space, design Space, design Collaboration areas Teaming / huddle rooms Gathering areas Lunch rooms / coffeebars Corneroffices Different feel than office Hallwayspaces Social center offirm Neighborhoods where each team can collaborate and share ideas Café is a spot to chat it up and/or get-away Photos courtesy of HYL ARCHITECTURE

14 Balancing the generational differences Manage impact of technology Reducing Hard copies Reducing Administrative support Recapture Libraries and record center Centralize Meeting rooms for easy usage and support Wi-Fi and cell service Throughout the building and garage Repurpose Case / work room

15 Flexibility anticipate ongoing changes Support recruiting and retention Modular Work stations except perimeter attorney offices Universal Acoustic, lighting, HVAC and sprinklers Convert Vacant administrative stations to interior attorney offices Branding of firm One sized offices Reinforcing of culture Statement of values Everyone can be a leader everyone has a voice 27 Photos courtesy of Troutman Sanders LLP and Gensler 28 14

16 Make space inspiring Make space collaborative Avoid underutilized space Provide connectivity within firm Files / books in rooms not hallways for easy of recovery Ensuring ability to change usage of interior space Increase distribution of teaming / huddlerooms Eliminate scattered lunchrooms Stairs for multi-floor firms Lounge / lunchroom for all day use Photos courtesy of Troutman Sanders LLP and Gensler 29 Photos courtesy of HYL ARCHITECTURE 30 15

17 Economics win Lease issues Flexibility to contract TI for furniture / technology Expansion growth planned within initial envelope Support staff Will continue to decline The new generations are driving changes Technology Changes will continue to movequickly Paper Will go away Mobility Will continue to beimportant Make sure your firm s space and lease provide for flexibility

18 Questions Elizabeth Cooper Esq. International Director Chris Murray AIA, LEED ID+C Thank you! Managing Director YOUR OPINION MATTERS! Please take a moment now to evaluate this session. Thank You! 33 17