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In the latest episode of The Real Finds Podcast, host Gordon Lamphere sits down with Joe Brady, former head of real estate for Walgreens and CEO of Americas at The Instant Group. Together, they dive deep into the future of commercial real estate (CRE) and the critical lessons office spaces can learn from the retail sector. Joe shares insights from his new book, Work Shop: The Consumer-Driven Transformation of Commercial Real Estate, offering a fresh perspective on how technology and evolving consumer behaviors are reshaping the industry.

Joe Brady draws compelling parallels between the retail and office sectors. He highlights how the decline of traditional malls serves as a warning for office spaces, emphasizing the importance of adaptability. Just as consumers have changed their shopping habits, employees are redefining how and where they want to work. They are “voting with their feet,” choosing flexible work environments that suit their needs. This trend makes it crucial for office owners to rethink their spaces, aligning them with the modern, flexible, and hybrid work models that employees now prefer.

A key point of the discussion is the innovative use of data to understand space utilization. Forward-thinking companies are leveraging technology to create environments that are not only functional but also attractive to today’s workforce. By understanding how employees use their spaces, businesses can craft office environments that enhance productivity and foster a sense of community. This approach mirrors the retail sector’s transformation, where understanding consumer behavior has been vital to success.

Brady also delves into the concept of live-work-play environments. In a world where work and life are increasingly intertwined, creating vibrant, mixed-use communities is essential for attracting and retaining talent. The office of the future isn’t just a place to work; it’s a hub for collaboration, social interaction, and personal growth.

Key Takeaways:

• Retail’s transformation through technology offers a roadmap for office spaces.
• Understanding employee space usage is crucial for adapting office environments.
• Vibrant, mixed-use communities are vital for future CRE success.

Recommended Books:

• Work Shop: The Consumer-Driven Transformation of Commercial Real Estate by Joe Brady
• Trammell Crow, Master Builder: The Story of America’s Largest Real Estate Empire by Robert Sobel

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