by Carrie Rosenfeld in GlobeSt.com with CBRE’s SVP Matt Carlson
“GlobeSt.com: What is driving current Downtown San Diego activity?
Carlson: The first thing is, on a more global scale, all the new and exciting projects delivering or getting ready to deliver Downtown. There’s a ton of residential being delivered—almost 6,000 units are coming online in the next five years. There are a couple of big holes in the ground—the East Village has the Pendry Hotel going in, a four-star version of the Montage, and cranes are starting to come out; on the west side, the Broadway area, Bosa has a high-end residential tower going in that’s going to be one of the top residential towers on the entire West Coast; and you’ve got the office market itself—all the office tenants looking at Downtown and all the fun people are having…
Ten years ago, offices were located where the CEO or partners lived and where it’s most convenient for them. If you were at the top of the pyramid or organization, you called the shots about where the company would be. But we are in an age of war for talent, particularly with these fast-growth tech companies. Their resources are in the employee—you get the edge from having the best talent. It’s really shifted. The last cycle, the person who ran the real estate wasn’t in the C suite—now that person is in the C suite because they’re driving the culture for the whole company.”
Read the full article here: Talent is Calling the Shots in Office