Resilience and Adaptability in a Challenging Market Environment
2023 was a continuation of the challenges facing the CRE industry in 2022, marked with a decline in transaction volumes due to high interest rates and the resulting tight margins of error.
Despite the market slow down, Partner Engineering and Science, Inc. (Partner), continued to strengthen its presence in the environmental consulting market. The company experienced growth in several key sectors, including the Environmental Solutions department as well as the Energy, Social, Governance + Resilience (ESG) division. As clients prioritized asset management over buying and selling, Partner’s ESG services gained traction, driven by evolving state and federal policies that emphasized sustainability and resilience.
“Despite the challenges in the CRE market, our commitment to innovation and client service has enabled us to expand our services and continue growing,” said Monique Burrola, Chief Operating Officer at Partner. “Our team’s dedication to adapting to market needs and regulatory changes has been pivotal in our success.”
Even with the downturn in CRE transaction volumes, Partner earned a spot on the Engineering News Record’s Top 500 Design Firms List, ranking at #145. This achievement underscores the company’s resilience and adaptability in a challenging market environment.
Engineering News Record reported an overall increase in design revenue from 2022 to 2023, rising from $122.53 billion to $137.80 billion. This growth highlights the industry’s ability to adapt and thrive amidst adversity.
In 2023, the design industry was largely influenced by artificial intelligence and technological integration, as firms sought to improve operational efficiency and implement continued technological advancements. Partner saw continued implementation and development of Partner Sitelynx Technology, a user-friendly, cloud-based platform for CRE due diligence used to simplify report orders, delivery, and analysis. The platform can assist clients with property risk management, as clients are better able to access and review reports.
Click here to view the full ENR 500 rankings
