Kennedy notes "Back to work is here" and tech companies are moving back to offices. He states, "Probably the next one to three years office will perform best." There is a supply constraint (no new buildings for 20 years in key areas) combined with increased demand from AI/Tech companies for physical space with power. The 20-25% repricing in assets has already happened, creating an attractive entry point. Long Office REITs (focusing on high-quality, urban operators) as a contrarian value play against the "death of office" narrative. A recession triggers a new wave of layoffs, reducing demand for square footage.
Kennedy notes "Back to work is here" and tech companies are moving back to offices. He states, "Probably the next one to three years office will perform best." There is a supply constraint (no new buildings for 20 years in key areas) combined with increased demand from AI/Tech companies for physical space with power. The 20-25% repricing in assets has already happened, creating an attractive entry point. Long Office REITs (focusing on high-quality, urban operators) as a contrarian value play against the "death of office" narrative. A recession triggers a new wave of layoffs, reducing demand for square footage.
Kennedy notes "Back to work is here" and tech companies are moving back to offices. He states, "Probably the next one to three years office will perform best." There is a supply constraint (no new buildings for 20 years in key areas) combined with increased demand from AI/Tech companies for physical space with power. The 20-25% repricing in assets has already happened, creating an attractive entry point. Long Office REITs (focusing on high-quality, urban operators) as a contrarian value play against the "death of office" narrative. A recession triggers a new wave of layoffs, reducing demand for square footage.