Real Estate Provides Insight Into PR Growth Areas
Spencer Levy (photo by: Michael Rodriguez)
With 2019 rapidly approaching, agencies are busy planning for the next 12 months. Among the biggest questions:
What sectors will provide the greatest opportunities for growth? And are they sustainable?
To start with, astute real estate executives have historically been strong believers in the value of effective public relations programming. The industry has a lot going on and is certainly in a position to take advantage of smart, targeted communications. Better yet, the industry’s insight provides a good look into the future.
I recently attended a presentation by Spencer Levy, senior economic adviser and chairman, Americas research for CBRE.
He noted that Phoenix is the 11th hottest real estate market in the country. We’re right in the mix with Tampa, Austin, Boston, Portland and Nashville – not bad company.
Taking his information one step further provides the following view into which industries have had the highest demand for office space this year and on into next year – and thus the most needs to effectively communicate their growth:
| Industry Sector | Use of available office space | |
|---|---|---|
| Technology | 17.6 percent | |
| Financial Services | 12.1 percent | |
| Health Care/Life Sciences | 10.7 percent | |
| Business Services | 9.8 percent | |
| Creative Industries | 6.5 percent |
Not too many surprises. The bigger question is: do the leaders in these sectors embrace and understand the value of effectively connecting with their target audiences moving forward?
