Rethinking Spaces

Rethinking Spaces

While seemingly an unlikely source, Morten Kabell, CEO of the European Cyclists’ Federation, aptly considered the real estate all around us and offered a broad perspective, saying, “The crisis has made clear that we need to change the way we live, work and move.” Elliot Nassim, president of Mason Asset Management, which buys distressed malls, offered a more direct perspective,saying, “It boils down to the principal of the real estate. Ifyou have good real estate, you have the potential to do so much with it.” In a late 2018 Briefing entitled “Changing Places (and Spaces),” we examined the ways in which retailers and other businesses with physical real estate, stimulated by major shifts in technology and consumer behavior, were changing the size, configuration and utilization of spaces and offering new kinds of experiences in order to align with the needs of the digitally trained consumer. In essence, they were restructuring their available space to remain viable, sustainable businesses. Now, with a global pandemic making some indoor gatherings impossible and others risky, countries, cities, organizations and companies are rethinking how to best utilize available outdoor spaces in order to keep citizens, employees and customers safe and to create viability in both the short and long terms.

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