|
The impacts and implications of the 9/11
terrorism attacks on the commercial real estate market are
seemingly fading from memory, especially in the US, EU and
international news and professional property media market.
The initial
aftershock post 9/11 predictions were for drastic effects on the
high rise office markets for major US metro areas. Also, the widely
anticipated post 9/11 geographic “diffusion” of corporate
functions, personnel and real estate assets away from US central
cities did not happen.
Although as the
months and years pass, and 9/11 type fear seems to be abating,
threats of terrorism still remain and corporations would do well to
remember the lessons learned from considering corporate
survivability.
One concern still occassionally
voiced at conferences and in various studies relative to the
implications of 9/11 concern the percieved higher sense of threat associated with occupancy in
the “higher profile” office towers in major cities such as
Chicago, San Francisco, Los Angles and New York.
Other areas of
continued concern involve corporate continuity in the wake of
potential new terrorist
attack. Issues related to key systems redundancy,
survivability and increased use of threat reduction strategies
regarding corporate
operations, real estate assets and
personnel should continue to be of concern in corporate
development strategies.
There are also increased regulatory impacts
resulting from 9/11, as
several federal agencies, such as the
U.S. Securities and Exchange Commission, have begun promulgating
guidelines and standards regarding the provision of corporate
redundancy for key operations within the financial sector.
The following
references and sources were initially drafted within the 12 months
post the 9/11 attacks. Reviewing these reports may provide reminders
useful in addressing corporate development strategies going forward.
 Top
|
