Citibase’s Post

Really great article supported by Colliers research. A couple of observations as it relates to Toronto: -Suburban Toronto is weighed more heavily to smaller entrepreneurial tenants versus the larger corporate occupants in Downtown Toronto that are struggling to get employees back into the office -I rewatched LOTR with my kids recently. The commute downtown feels like Frodo’s journey to Mordor. -In the period of 2015 to 2019 many Institutional investors acquired downtown assets with a heavy reliance on 10 year DCFs, a mark to market on rental rates, and overlooking asset negatives to get a “foot in the door”. The underwriting assumptions on many “‘B’ priced like an ‘A’” acquisitions in this period have not transpired. The reality is that downtown Toronto office appraisals are trending back to where they should be, while suburban office has been a steady and predictable performer. Watch this space for an imminent closing from our team to reinforce suburban price discovery. Thoughts Adam Jacobs, PhD ?

https://lnkd.in/gAJxXQQe? Beyond pressuring local companies to enact strict return to office policies, American city governments can look to thriving European downtowns for inspiration. Rather than try to reinvigorate an already fragile and flawed American inner city design premised on strict separation of uses (central business districts) that "die" at night, encourage more mixed use buildings and walking streets. Got that "every-store-is-closing-because-streets-are-empty-San-Francisco-feeling?" Be bold and permanently shut down lanes to cars, opening them up to pedestrians, with good lighting at night and an experiential "third-place" for events, arts and entertainment. Post-covid vacant buildings? Implement adaptive-reuse policies to minimize carbon impact and provide innovative new spaces for a downtown that encourages diverse activities, not just business. This new Model Policy on Adaptive Reuse of Assets led by the World Economic Forum, Infosys and C40 Cities is here to help. San Francisco Mayor's Office of Housing and Community Development check it out: https://lnkd.in/gNAinUp7

Here is a nice Friday read on a very important topic. The first thing I thought of was, is there something different about Miami in terms of why people would be more inclined, or able, to be in their company's office more often? Because the piece discussed the Miami vibe nicely but also mentions that "...people are back in the office at greater rates in Miami, in general, workers across the country want more flexibility...". Can it be a function, at least partly, of the lifestyle and weather? People are more inclined to be on the move in general in a climate like Miami's? Maybe. At that point it comes down to the leadership of the company, to choose the kind of environment that they want to provide, and in some ways, what kind of a company they want to be. In that way this office/WFH dance that corporate America is engaging in can be a vital issue and its obvious that companies need to be upfront about what it means to work at that company. Interesting times. #torontorealestate #realestateinvesting #toronto #canadarealestate #torontocondos #gtarealestate #miamirealestate #miamicondos #economy #housing #MIAMI 🔔 Follow Simon S. Mass to see more great real estate investing content on #LinkedIn 🫂 Go to my profile and learn about pre-construction investment offerings in Toronto and Miami

🏆 Exciting news! The Toronto Association of Business Improvement Areas (TABIA) and the City of Toronto have recognized the Yonge North York BIA with the “Member Support Award” for our Broker Summit & Study! Earlier this year, we hosted our inaugural Yonge North York BIA Broker Summit, bringing together 80+ industry leaders, including brokers, property managers, asset representatives and the BIA team. The summit sparked insightful conversations about revitalizing a softened office market and highlighted the trends and opportunities shaping the Yonge North York business community. As Toronto’s second-largest office hub, with over 27,000 employees, Yonge North York is adapting to the post-pandemic landscape with a focus on flexible workspace solutions and collaboration. This award reflects our commitment to supporting the local office sector and fostering a thriving business ecosystem. Dive into the key takeaways from the Broker Summit here: https://lnkd.in/g92rbMS2 #TABIA #CityofToronto #YongeNorthYork #MemberSupport #Award #NorthYork #Willowdale #Toronto

Curious about what it’s like to work in the Twin Cities? Check out this video showcasing our workplace and team member culture. #usbanklife Learn more about our presence in the Twin Cities: https://lnkd.in/gjATKsff

Family offices are increasingly choosing to engage with Virtualnonexecs If you've seen the Netflix series Succession, you'll know that these offices face the real-world complexities of leadership transitions, governance, and long-term growth across generations. And not just for their investments but for their own entities! Virtualnonexecs offers family offices access to a highly vetted network of board professionals who understand the unique demands of both business and family dynamics. Top family offices in the UK leading the way include: 🇬🇧 Grosvenor Family Office (The Duke of Westminster) – Estimated at £9.5 billion. 🇬🇧 The Weston Family Office – Estimated at £11 billion. 🇬🇧 Rothschild Family Office – Estimated at £5 billion. 🇬🇧 The Sainsbury Family Office – Estimated at £2 billion. 🇬🇧 Cavendish Family Office (Duke of Devonshire) – Estimated at £900 million. 🇬🇧 The Dyson Family Office (James Dyson) – Estimated at £23 billion. 🇬🇧 The Rausing Family Office – Estimated at £10 billion. 🇬🇧 Bramdean Family Office (Dame Helena Morrissey) – No public net worth data. 🇬🇧 The Pears Family Office – Estimated at £6 billion. If you are interested in using the Virtualnonexecs Operator Network to source board advisor, non-exec and chair talent: https://lnkd.in/d3na7CEC #virtualnonexecs #succession #operatornetwork

🌟 Embrace the Future of Work: Introducing ROWE! 🚀 🔍 Ever heard of ROWE? It's not just a buzzword; it's a revolutionary approach to work that's transforming the modern workplace landscape. 🎯 ROWE stands for Results-Only Work Environment. Instead of clocking in hours at the office, ROWE focuses on one thing: RESULTS. 💼 👩💻 Imagine a world where you're not tied to your desk from 9 to 5. With ROWE, you have the freedom to work when and where you're most productive, as long as you're delivering results. 📈 💡 No more counting hours or micromanaging. ROWE empowers employees to take ownership of their time and tasks, fostering a culture of trust, flexibility, and accountability. 💪 🚀 Ready to revolutionize the way you work? Join the ROWE movement and unleash your full potential! #ROWE #FutureOfWork #WorkSmarter

As the workforce continues to embrace hybrid work, the commercial office market is adapting. Our CEO, Hessam Nadji, recently shared insights on CNBC’s Squawk Box, highlighting why we’ve likely seen the worst impact on office real estate. Despite challenges, long-term demand is still supported by economic fundamentals like employment growth and consumer strength. Read more about Hessam’s take on the future of commercial real estate in Benzinga and Yahoo Finance: https://lnkd.in/g-uHs8yZ #vhgcregroup #marcusmillichap #cre #commercialrealestate #office #yahoofinance #squawkbox

Along with expanding into a brand-new state, we are also opening another office in a state where we are already established. That’s right; we have TWO NEW OFFICES opening soon! Can you guess where we’re headed? Drop your guesses in the comments! Hint: In one state, we already have at least three offices. #TysonMendes #NewOffice #NewOfficeLocation #GuessWhere #ComingSoon #CantStopWontStop #GrowthMindset #NoNuclearVerdicts #JusticeforALL

🏙️📈 Wall Street Wakes Up the Workplace: The Revival of City Offices 🌆 Redefining Urban Workspaces: The Wall Street Catalyst Amidst the gradual revival of urban centers, Wall Street banks have emerged as unexpected catalysts, driving up office occupancy rates. This move signifies a paradigm shift from the remote work culture to a renewed interest in physical workspaces. 🔄 Evolution of Work Cultures: From Pandemic to Present Tracing the shift from remote to office-centric cultures provides insights into the changing dynamics of workspaces. 🌟 Impact Beyond Finance: A Ripple Effect Across Industries The move by financial giants is influencing other sectors, reshaping urban economic landscapes and daily life. 🔮 The Balance Ahead: Hybrid Work Cultures This resurgence might lead to a more hybrid work environment, blending in-office and remote work practices. Join the conversation and share your thoughts! #OfficeRevival #WorkplaceCulture #WallStreetTrend #RTO #ReturnToWork https://lnkd.in/echS3hZu