September 1, 2022 • John Salustri
When it comes to addressing concerns about health and wellness—and how they impact tenant comfort and satisfaction—the industrial real estate sector is about 10 years behind its office sector counterpart. This according to Carl Lam, industrial director for QuadReal Property Group, a global real estate firm based in Canada.
Joanne Frank, president and CEO of the Center for Active Design, a New York-based nonprofit that uses design to foster healthy and engaged communities, echoed Lam’s assertion. She said the industrial sector also trails other commercial real estate sectors in terms of employee absenteeism and stress levels.
If those pressures on industrial property owners and managers were not sufficient, Jessica Long, global investment manager Nuveen’s senior director of sustainability for the Americas, added one more: “Our clients and investors are also increasingly asking about ESG [environmental, social, governance] protocols and managing financial risk.”
These experts, who shared their insights at BOMA International’s most recent annual conference, concluded that there are no universal solutions for solving all these challenges in the industrial sector.