Demand for corporate real estate indicates strong economic outlook

Photo of Roy BlackDr. Roy Black, professor in the practice of finance at Goizueta Business School, was recently featured in the  The Wall Street Journal‘s MarketWatch. The new CoreNet Global Confidence Index, developed in conjunction with Black, is highlighted as evidence of a strong global economic outlook for the second half of 2013, while the prospects for corporate growth and expansion are also increasing.

Black’s colleague, CoreNet Global’s CEO Angela Cain says, “As a leading professional association for CRE executives, CoreNet Global is projecting the demand for office, industrial and other types of corporate real estate and correlating those internal business conditions to prospects for economic and business growth that, in turn, have direct impact on the wider economy,”

Based on the viewpoints of corporate real estate executives serving large, multinational companies, the new macro-economic index found that nearly two-thirds rated their outlook on the global economy for the coming six months as optimistic to very optimistic, compared to a year ago. Professor Black characterizes this as “a classic case of corporate economic resiliency following the challenging overhang of 2009” considering the World Gross Product measure of all economic growth globally shows a flat-line trend of +2.3 percent from last year to this year. Still, executives in the CoreNet Global survey ascribed even higher confidence levels to the likelihood of their companies’ growth for the second half of 2013.

Roy T. Black, who has taught part-time at Goizueta since 1999, joined the Goizueta faculty full-time in Summer 2007 to spearhead the Real Estate program. During his tenure at Goizueta, Black has seen his typical class size of 30 students and his load of one or two courses a year swell to the establishment of a program. He has a J.D. from Woodrow Wilson College of Law, an M.S. in Real Estate from Georgia State University, and a Ph.D. in Business Administration from the University of Georgia. Prior to entering academia, he spent 15 years as a real estate attorney.

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-Meredith Farahmand

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