New Normal Series Focuses on Future of RE Development

By Jodi McCulloch, Business Development Manager, Crosslands Company

On Wednesday, August 18, NAIOP Colorado hosted the first panel in its Education Series. This year’s them is “Post-COVID and The New Normal”. Our first panel, “The New Normal: Psychological and Behavioral Patterns”, hosted by Katie Donahue, Associate, Handel Architects was a great way to kick off this series.

Panelists included:  JJ Ament, CEO, Metro Denver Economic Development CorporationDr. Angela Loder, Vice President, Research at International WELL Building Institute; and Sarah Le Tourneur, Partner/Principal, EY Americas.

JJ shared that it is the talent and people of Denver that attract companies to the area. Industries of growth in Denver include Aerospace, Bio Science, Financial services, Aviation, Broadcast and Telecommunications, Healthcare and Wellness, Food and Beverage, Energy, and IT Software.

Angela talked about the ESG Landscape. ESG (environmental, social and governance) is a general term used in capital markets and used by investors to evaluate corporate behavior and to determine the future financial performance of companies. The ESG has a 73% impact on lease rate, a 62% impact on building value and a 59% positive impact on occupant satisfaction.

Sarah took everyone through a recent survive done by EY. They learned that 9 out of 10 people want flexibility on where and when they work. Sixty seven percent of the respondents preferred flexibility of time over location. Fifty four percent of respondents were likely to leave without flexibility. Lastly, 2/3 want employers to offer flexible start and finish times.

Denver is unique in what it offers with the outdoors, healthy environment/lifestyle and provides work/life balance. Pre-pandemic, Denver led the nation in work from home employees. 52% of people have moved to Denver from out of state while 10% have move her from somewhere internationally.

NAIOP was grateful for the insight from such a distinguished panel and are looking forward to see what our new normal of commercial real estate development will actually be. Join us for the next panel in our Educational Series on September 15 that will look at The New Normal of Industrial and Retail. We look forward to having you in-person or online.