Jeff Bennett recently traveled more than 4,500 miles to Prague. While attending a conference where 70% of more than 200 attendees were from outside of the U.S., the message “it’s a small world” was reinforced repeatedly, in one-on-one meetings and group presentations.
For Bennett, managing partner of McColly Bennett Commercial Advantage in Schererville, Indiana, several primary themes resonated with Bennett, whose perspective is locally grounded, national in scope, and recently was at the center of the global stage. McColly Bennett Commercial Advantage serves Northwest Indiana and the Chicago Southland.
“Navigating the current complexities still requires human effort and collaboration to build bridges and leverage global insights that are relevant and beneficial to clients,” Bennett said, in part to address the importance of more than 200 people gathered from over 30 countries at the Leading Real Estate Companies of the World Conference.
From a commercial real estate business perspective, “the common threads intertwined throughout the global conference agenda were technological in nature and future focused,” Bennett said. “It reinforced that regardless of where we live, we live and operate in a global economy. Many of the issues and challenges we face are similar to issues and concerns all around the world.”
As part of the conference program, Bennett participated in commercial real estate panel discussion that focused on a range of topics from data centers and AI to electronic vehicles and battery storage, topics that are as relevant in downstate Illinois as they are in Portugal, Germany, New Zealand and China.
“We all need to understand on the international nature of data centers which is being driven by AI demand,” Bennett said.
He noted a commonly shared concept from Illinois that site selection for datacenters that centers on the 3Ps: people, place, and power.
“It requires community support and natural resources, Bennett said, “bringing the focus back to the power of natural gas and nuclear energy.”
Gotion is set to begin the production of electric vehicle batteries in Manteno, Illinois, in September, marking a significant milestone in its $2 billion project announced two years ago. The company initially launched the manufacturing of commercial-scale energy storage products in the spring with two assembly lines.
Other takeaways from the conference overall centered on the issues of tariffs and their potential impact and the broader perception of the U.S. among attendees.
According to Bennett, Marcy Russell, Chief Economist for Leading Real Estate Companies of the World, does not believe that President Trump’s execution of his tariff policy will lead to a recession. Her response was based on a philosophy that recessions typically begin with a surprise or gray swan event. Russell’s opinion, as interpreted by Bennett, suggested that the telegraphing and changeability of Trump’s tariffs do not meet that definition.
Foreign attendees noted the realities of as well as the issues associated with the policies and actions of the current administration in Washington, D.C. Bennett’s takeaway from discussions was that while “dysfunctional” was one of the most common characteristics of the U.S. today, no one is conceding that they continue to view U.S. as a significant market for trade and resources. Further, he said international investors still view the United States as the safest place to invest.
Still, many remain perplexed at the country’s view on welcoming immigrants since the US was founded by immigrants.
Bennett’s final takeaways, one international and one more localized:
- “Keep your eye on Africa because of its huge land base, wealth of resources, and tourism potential.”
- “AI can enhance the “trusted real estate advisor” role when combined with localized, full-service expertise and a foundation of strong relationships.”
Not bad insights from a veteran real estate professional working to be relevant on the world stage while conducting business daily from Kankakee to Bourbonnais to Michigan City, or anywhere else that matters.
