NEW
YORK, May 16, 2024 /PRNewswire/ -- Commercial
Observer, the premier media and information services
platform connecting and informing commercial real estate leaders,
will host its highly anticipated State of Office
Forum at PENN 2 in THE PENN DISTRICT on
Thursday, May 16.
While office vacancies across aging assets have spurred many
headlines about office-to-residential conversions, elite Class A
office spaces are experiencing a separate narrative and the outlook
is hopeful. As the flight to quality continues, New York City is not only seeing an increase
in back-to-office policies fueling critical business districts but
is also facing a shortage of high-end office supply. This
dichotomy, shaped by aging assets set against futuristic new
developments, suggests that the state of office is far more complex
than reports suggest.
HOSTED AT THE TOWN HALL AT PENN 2, EVENT ATTENDEES WILL GET A
BEHIND-THE-SCENES LOOK AT THE BEST-IN-CLASS REAL ESTATE STRATEGIES
DRIVING OFFICE OCCUPANCIES
"Vornado is happy to host this important conversation at
PENN 2, a newly transformed 1.8 million square foot building in the
epicenter of New York that
exemplifies the future of work and the ideal location for
Commercial Observer's State of Office Forum," said Glen Weiss, Executive Vice President, Office
Leasing and Co-Head of Real Estate at Vornado Realty Trust. "The
curation of THE PENN DISTRICT has transformed the neighborhood
around Penn Station into a dynamic connected office campus at the
doorstep to Manhattan's new west
side for tenants and visitors. PENN 2, along with neighboring PENN
1 has created an incredible amenity-rich environment to meet the
needs of today's leading companies."
"In the evolving landscape of corporate America, we are
continuing to see companies mandate return to office policies,
marking a pivotal shift in workplace expectations and market
dynamics. In this highly bifurcated market, occupiers have newfound
expectations and objectives for their office space," said
Bruce Mosler, Chairman, Global
Brokerage, Cushman & Wakefield who is spearheading PENN 2
leasing efforts with Executive Vice Chair Josh Kuriloff. "PENN 2 stands at the forefront
of this transformation, embodying the office of the future where
connectivity, hospitality, sustainability and community
converge. PENN 2 is a prime example of exceeding the
expectations of today's workforce, featuring collaborative spaces
filled with light, air and green space, alongside meeting the
highest ESG standards while offering great accessibility to major
public transportation hubs. PENN 2 is a beacon of innovation,
creating a 24/7 live-work-play campus, which is a critical part of
exciting and inspiring employees to return to the
office. Vornado's commitment to anticipating and fulfilling
the evolving needs of the modern workforce positions PENN 2 not
just as a great physical space, but as a thriving ecosystem that
champions progress, well-being and environmental stewardship."
Commercial Observer's move to retitle the event from "State of
CRE" to "State of Office" is in and of itself a statement of
support for office recovery. "The office sector is vital to
New York City's longevity and
there have been many exciting developments that have been muted by
thinking that work from home is here to stay," explained Observer
Media CEO James R. Freiman. "We're
thrilled to host this as a dedicated office event and to build
awareness around what's actually working in today's market. Hosting
the event at PENN 2, a world-class property at the center of the
new Penn District, is a direct reflection of the event's theme as
we discuss winning workplace strategies that are engaging top
talent through modern urban campuses."
AN EXECUTIVE-LEVEL AUDIENCE CONVENING THE MOST PROMINENT
LEADERS DRIVING THE OFFICE RECOVERY
This extremely timely event, which will convene 250+
executive- and C-suite level commercial real estate
professionals, has lined up industry veterans to discuss the
nuances of office development and leasing in today's rapidly
changing market.
Speaker highlights include:
- Glen Weiss, Executive
Vice President, Office Leasing & Co-head of Real Estate,
Vornado Realty Trust
- Bruce Mosler, Chairman,
Global Brokerage, Cushman & Wakefield
- Spencer Levy, Global
Client Strategist & Senior Economic Advisor, CBRE
- Maria Torres-Springer,
Deputy Mayor for Housing, Economic Development & Workforce,
NYC
- Melissa Burch, COO, New
York City Economic Development Corporation
- Christina Chiu,
President, Empire State Realty Trust
- Brian Feil, Principal,
The Feil Organization
- Ryan Simonetti, CEO &
Co-Founder, Convene
Program topics and highlights include:
- Exclusive, behind the scenes look at PENN 2, one of
New York City's newest
high-performance mixed-use developments
- Data and statistics that uncover the true state of office in
New York City and share why
New York's office market is
outpacing recovery in other major markets
- Three keynote sessions covering topics ranging from global
office outlook to New York City's
public-sector support of office, and a case study on one of the
most innovative corporate properties to hit the market
- A high-level view of the state of CRE: capital markets,
economic triggers & the future of office
- The data & workplace strategies pointing to an office
uptick
- The tenant's perspective: what's really driving workplace
demand today
- The cost of doing business in a market demanding innovation:
tech, high-end amenities & LL97 compliance
ABOUT COMMERCIAL OBSERVER
Commercial Observer is the
leading commercial real estate media and information services
company, delivering high-impact content, events and platforms
designed to connect and inform industry participants of key trends
and people defining the global real estate landscape. Commercial
Observer reaches a national audience of the most active real estate
owners/developers, corporate occupiers, brokers, investors,
lenders, leasing professionals, tech firms, public officials,
contractors, architects, attorneys and accountants, as well other
business owners and key decision-makers impacting the trajectory of
the building industry. The company holds its reporting to the
highest editorial standards with a strong commitment to fairness
and accuracy. Commercial Observer is a unit of Observer Media, a
company which informs and connects leaders in industries undergoing
disruption to help them innovate, grow and make smarter decisions.
For more information, please visit www.commercialobserver.com.
Contact:
Kate Harrington
Commercial Observer
(413) 358-5397
kharrington@commercialobserver.com
Sarah S. Berman
The Berman Group, Inc.
(212) 450-7300
sberman@bermangrp.com
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SOURCE Commercial Observer