This is a Real Estate Development course, and the Attached articles must be read in order to do the write-up. the direction is also attached, not more than a page. Time-sensitive please
Reading Assignment · How does the flat world effect real estate development? Give examples based on a specific property type. (Note, you have a reading on this!). Please use the "Flat world..." reading. This is a Pass/Fail assignment. A pass will be recorded as a 1 and a fail as a 0. In less than one page, what is the major take-away from the papers. Do not get caught up in the math. What is the practice evidence/application. Submission form: 1. Basic outline/purpose of article 2. Findings 3. Limit 4. Application NAIOP_PearceReport4.qxp Commercial Real Estate in a Flat World The Implications of Corporate Restructuring and Economic Globalization for Industrial, Office and Mixed-Use Property in America Submitted by: David Pearce Snyder Consulting Futurist Commercial Real Estate in a Flat World The Implications of Corporate Restructuring and Economic Globalization for Industrial, Office and Mixed-Use Property in America Prepared for and Funded by The National Association of Industrial and Office Properties Research Foundation By David Pearce Snyder Consulting Futurist The Snyder Family Enterprise Bethesda, MD November 2007 Commercial Real Estate in a Flat World NAIOP Research Foundation November 2007 i About NAIOP The National Association of Industrial and Office Properties is the nation’s leading trade association for developers, owners, investors and other professionals in industrial, office and mixed-use real estate. Founded in 1967, NAIOP comprises more than 16,500 members in 55 North American chapters and provides networking opportunities, educational programs, research on trends and innovations and strong legislative representation. For more information, visit www.naiop.org. About the NAIOP Research Foundation The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation’s core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial and mixed-use properties, impact and benefit communities throughout North America. Funding for the Research Foundation’s activities comes from the generous support of the Governors, annual gifts from NAIOP members, and underwriting from the National Association of Industrial and Office Properties (NAIOP). For more information, visit www.naioprf.org. © 2007 National Association of Industrial and Office Properties Research Foundation There are many ways to give to the Foundation and support projects and initiatives that advance the commercial real estate industry. If you would like to do your part in helping this unique and valuable resource, please contact Bennett Gray, senior director, at (703) 904-7100 ext. 168, or
[email protected]. Requests for funding should be submitted to
[email protected]. For additional information, please contact Sheila Vertino, NAIOP Research Foundation, 2201 Cooperative Way, Herndon, VA, 20171, at (703) 904-7100, ext. 121, or
[email protected]. ii Commercial Real Estate in a Flat World NAIOP Research Foundation November 2007 Table of Contents PREFACE .................................................................................................................................1 EXECUTIVE SUMMARY.........................................................................................................2 Introduction ........................................................................................................................... 2 PART 1 – The World Is Getting Flatter .................................................................................. 3 PART 2 – What’s FLAT and What’s Not..................................................................................5 PART 3 – Property Development on Planet Flat ...................................................................6 Conclusion ..............................................................................................................................8 PART 1 - THE WORLD IS FLAT AND GETTING FLATTER...................................................9 1.00 Introduction....................................................................................................................9 1.10 Defining “flat”................................................................................................................9 1.20 Friedman’s “Triple convergence:” Three new facts of economic life on Planet Flat ................................................................10 1.21 A level, Web-enabled playing field .......................................................................10 1.22 Horizontal enterprises ..........................................................................................10 1.23 The globalization of work ....................................................................................10 1.30 Four important features of our flattening world............................