Commercial Investment Real Estate May/June 2016 | Page 15

are drastically different. France is tenant
friendly, while countries in Middle East are
oriented toward the landlord. In Asia, the
governments are often involved in com-
mercial real estate transactions, especially
in China.
CIRE: How has working for a large
U.S. manufacturing company changed
your perspective of the global
economy?
Stergos: Global real estate transactions
opened my eyes to the interconnected
economy. Also, I get to see UTC’s cutting
edge manufacturing on new products, such
as the new geared turbo fan engine. Use of
this engine can actually change real estate
uses and values for properties near airports.
Its quieter operation makes more ef cient
glide paths possible.
UTC is also the world’s largest supplier
of equipment to the international build-
ing industry, where mass globalization
CCIM Institute education has provided me
the foundation to understand and implement
my commercial real estate career.
is ongoing. This means a significantly
increased long-term demand for elevators
and air conditioners in developing countries,
especially in Asia.
CIRE: How has the CCIM designation
improved your ability to advance and
adapt to changes in the industry?
Stergos: CCIM Institute education has
provided me the foundation to understand
and implement my commercial real estate
career. T e training allowed me to under-
stand commercial real estate and transfer
practical applications to my day-to-day
work.
Internationally, I can use what I learned
through CCIM about vacancy rates, com-
parative lease analysis, and whether to lease
or buy properties. CCIM brokers are not just
based in United States. When I work with
another CCIM on a global transaction, I have
the added comfort of knowing the CCIM bro-
ker understands the transaction and markets.
Sara S. Patterson is senior editor of Commer-
cial Investment Real Estate.
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May | June | 2016
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