Weekly Newsletter Aug 31, 202031 Aug 2020
…"Are we headed for a Spring of hope, or a Winter of despair"… Charles Dickens.
From our market understanding and experience, we at Avison Young – Propertech, can feel the wind of change. It is probably too early to predict, numerous employees have been working from home for months and it is difficult to assess the long-term and final impact of this experience, yet it is already clear that change is taking place.
The office is just one option, among several. You can work from home, from a shared workspace, co-working space, the neighborhood café. A CEO needs to convince the employee to come and work from the office; the emphasis being on convincing. The employee feels that outside the office he is as productive as at the office, and even more so, and it warrants change.
Companies want landlords to provide more flexible contracts in terms of engagement period, serviced offices & branded buildings. We would like to call it hotelization, as in Las Vegas, every day you want to sleep in a different exceptional hotel and have different excellent experiences. The idea that a conventional office space is suitable for everyone is suddenly becoming obsolete. Companies are looking for specific solutions - to let their employees stay in an office where they will enjoy working and be efficient. It may be that given spaces need to be shared by several companies and given employees 4 different work environments.
Terms have changed, the company - the customer, dictates the terms and requirements, as it is in any other industry.
Developers and landlords who will read the map and understand the change will succeed to navigate these challenging days.
Big wins AY – Propertech
Completed a lease process of Convenience Store in the center of Israel (Brokerage).
Israeli commercial real estate deals
- ISRAEL CANADA LTD in talks to buy TAMARES hotels (Globes).
- HERTZ PROPERTIES GROUP, LIMITED is selling the Bank Of America Tower for $ 75.5 million.
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Commercial Real Estate Opportunities
- For sale 2,200M2 commercial building in Petah Tikva, in the center of Israel.
- For sale two floors (2,300M2) out of five, in a commercial building in the center of Tel Aviv.
- For Sale in Tel Aviv 600M2 floor, (one out of 4) + 13 parking spaces.
- For lease, in Holon, 1,500M2 office space ready to occupy
- For lease, in Alon Tower Tel Aviv 156M2 office space, high floor 5 rooms.
- For lease, in Or Yehuda, 600M2 office space ready to occupy.
- For lease, in in Petah Tikva 1,700M2 office space ready to occupy.
- For lease, in Kadima, commercial units in a new neighborhood commercial center.
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