February 3, 2006—According to the results of a CoreNet Global survey released today, exposure in a major motion picture increases the status of a trophy office building. From a survey of CoreNet Global members, 97% of respondents said properties like the Empire State Building, which had a recent starring role in the movie “King Kong,” are important to a city’s identity.
Respondents said however, that screen time doesnt translate into higher rents that a building can command. Forty-three percent said such exposure would increase rents while 57% said time on the silver screen would have no impact. And by a 52% to 48% margin, members said they would not locate in an iconic, trophy tower like the Empire State Building just because it has become a movie star.
Security concerns, which became more prevalent after 9/11, have not greatly impacted whether to locate in an iconic building. By a comfortable 37% to 28% margin, respondents say companies are not avoiding well-known symbolic office towers. Nor are companies lax about security concerns. By a 70% to 30% margin, attitudes about locating in high profile structures have not become more relaxed as they were in pre-9/11 days.
CoreNet Global members manage $1.2-trillion in worldwide corporate assets totaling 700-billion square feet of owned and leased office, industrial and other space. For more on the company, visit its Web site.
