I'm long office.

I’m listening to people, not headlines. As reality sets in, the more people are telling me they’re grateful for an office to go to. Not b/c it’s fancy, but because they get to be with the team.

We are social creatures, and that has never changed. Ever. I’m betting it never will.

Video chatting certainly has it’s value and place in the world, but it isn’t the tool to build deep relationships.

No matter what industry you’re in, the best of the best are surrounded by a network of deep relationships, which compound over decades.

History tells us, the winners will continue to build deep networks. Folks willing to be with others in person are the winners going forward.

They’ll shake hands, fist bump, high five, hug, and so on.

An extreme thought: Imagine trying to build the 90's era Chicago Bulls and telling each player that they need to practice in their own gym and work out solo, and video chat their teammates daily to build team spirit.

Team dinners and celebrations will be through video. Etc.

In-person interactions will be saved for game time and, no pressure, but they’ll need to play as a team that is ready to win championships.

To play as a high-caliber team, you need to have that 6th sense of people’s tendencies, emotions, etc. That happens during practice, locker room talk, team meals, team traveling, etc.

It’s impossible to gain that 6th sense through limited in-person interaction, substituted by video chatting. IMO, it's laughable to even consider.

I call that 6th sense "the magic" that nobody can necessarily articulate, but it’s understood that it exists.

Can you tell I’ve been watching The Last Dance too much?

It’s fu**ing awesome.

Back to the office, the best companies of the future will retain a strong office presence.

Sure it can be different, downsized, flexibility, spread out, whatever, but it's not going away.

In fact, it’ll likely become a stronger force for those looking to create “ the magic” and win.

There is a lot of untapped revenue that will be generated through the ownership of the office (and all asset types).

The years ahead will uncover those opportunities.

The great news is we’ve built a country on the backs of innovators and a spirit of entrepreneurship.

It's called the American Dream and it's alive and well, if you listen to people instead of headlines.

COVID will unleash a new generation of them like we haven’t seen.

If you own real estate, you’ll benefit from that force. We don’t have to have the idea, we just have to smart enough to implement it when it comes.

What will continue to change for landlords of all asset types is the relationship with the tenant.

Being human & serving customers means more to this generation than it ever has. That will be done in-person, often, in an office.

-CJP

Disclaimer: I’M NOT AN OFFICE INVESTOR....yet.