David C. Smith, Cushman & Wakefield

NAIOP Podcast: Inside CRE

David C. Smith is the head of Americas insights for the Cushman & Wakefield global think tank. He joins the podcast and puts in a pitch for the office sector, which he said is experiencing a reckoning similar to the “retail apocalypse” that made headlines back in the mid-2010s through 2020. David discusses topical office trends including reduced square footage per worker, flexible office configurations and the flight to quality. He explains the cyclical vs. structural headwinds faced by the office sector, why “urban nodes” are one of the greatest opportunities over the next decade, and the optimal mix of downtown real estate (42% should be office) for maximizing GDP. Recorded on Sept. 23, 2024.