Ready for Reinvention: 2023 Trend Report, made with support from CBRE, is for all parties involved in the real estate ecosystem and urban place management, including but not limited to investors, property owners, tenants, consumers, and the public and non-profit sectors.
The ways in which we have occupied the spaces where we work, shop, play, and live are changing before our very eyes, part of a rapid evolution in how consumers spend and value both their time and money. Post-pandemic, commercial districts anchored by large offices are being repurposed for alternative uses as office occupancy falls. The question we must now ask ourselves is this: if not retail or office, then what?
In a world and in a time when consumers are increasingly fatigued and overextended, wellness has blossomed into a highly profitable industry. We are witnessing a growth of wellness-focused real estate, with large-scale projects focused on providing wellness experiences across a range of asset types. Developers are increasingly interested in this type of offer, but right-sizing to the market, and ensuring the mix and experience are appropriate for the context, can present challenges. Find examples of spaces that have invested in wellness at a large scale in Ready for Reinvention.
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The Place Consulting team works to identify, analyze, and solve real estate and place-based challenges from the perspectives of key stakeholders in the real estate ecosystem, including investors, property owners, tenants, and consumers. We take pride in our award-winning diagnostic methodology, one that begins with uncompromising research: identifying unmet potential and diagnosing the hurdles in the way to meeting it. Our diagnostic ensures we have defined and fully understood the challenges, while also educating our clients and setting us up for highly executable solutions and recommendations that support return on investment— however it is measured.