Power Reads: 5 Interesting Articles That Will Help You This Week

Each week, I select a few articles that rise above the fray and hopefully help you on your journey in leadership and the CRE world. They pull from one of four "corners": corporate real estate, technology, management science and anything positive. Each day we can become a better version of ourselves.

1. Hustle as a Strategy

Mark Christopher was a very senior and well-respected broker at Cushman & Wakefield, and I was – well, I was wet behind the ears. I had been in the real estate business less than two years and I was banging my head against the wall cold calling small industrial tenants in a grungy Atlanta industrial submarket.

I was beginning to make some traction, but like so many young people in our business I had a strong fear of failure and an unhealthy case of self-doubt.

We both walked to the office elevator right at 7:30 PM on that Thursday. I’m sure Mark had had a long day. At that time, I didn’t know him as a person, but I sure as heck respected his reputation. When we boarded the elevator, he looked right at me and asked how it was going. I said with a little too much enthusiasm “Busy!”

Mark smiled and said with intensity, “Ken, but are you GOOD busy?” I didn’t really know how to respond, because I was working so hard, I felt I was doing the right thing every day. I thought about the many administrative tasks I had done that day and I stammered, “I’m not sure what you mean.” The doors opened, and we got off the elevator.

2. The Future of Workplace Amenities Is Knowledge

To compete for top talent, employers have traditionally offered workplace amenities such as corporate gyms, gaming lounges, nap rooms, and other in-office perks. But today, after months of working from home, our expectations of the workplace and what it means “to work” and “be in a place” are facing an unprecedented shift.

As we navigate this shift, workplace experience is taking center stage — driving whole narratives on what “experience” should look like for each employee in a more hybrid work model, one that merges the best of “work” and “home” and looks to extend beyond physical space to support employees more holistically.

As more businesses embrace flexible work, things like employee choice and well-being are taking precedent over the physical amenity spaces that companies once offered. Instead of valuing things, employees are more likely to value great workplace experiences. Things like equity, mentorship, and learning are moving up the list of employee priorities now that our work and home lives have become seamlessly and intentionally interconnected.

3. Manhattan Emptied Out During the Pandemic. But Big Tech Is Moving In.

Facebook has just leased enough new office space in Manhattan to nearly triple its current local work force, including at one of the city’s most iconic buildings, the 107-year-old former main post office complex near Pennsylvania Station.

Apple, which set up its first office in New York a decade ago, is expanding to another building in Manhattan. And Google and Amazon are stitching together corporate campuses in the city more quickly than anywhere else in the world. Amazon paid roughly $1 billion in March for the iconic Lord & Taylor building on Fifth Avenue.

Despite a pandemic that has ravaged New York, hollowed out many of its office buildings and raised fundamental questions about its future, the four companies collectively known as Big Tech are all significantly expanding their footprint in the city, giving it a badly needed vote of confidence.

4. Time To Ditch Those Awful Zoom Calls, CEOs Say

Early during the pandemic lockdowns, in April, many were touting the benefits. James Gorman, CEO of Morgan Stanley, said his bank would need much less real estate in the future because even though he was a fan of having teams together, "we've proven we can operate with no footprint."

Now members of the C-suite have gone full boomerang on Zoom meetings. After finding them awesome and productive at first, they're now questioning how much they really achieve and are suggesting they lead to a sterile work culture lacking in imagination.

"What we as human beings need, want, seek ... is human contact," Nadella says. He was speaking at a virtual conference organized by The Wall Street Journal last week.

5. San Jose Unveils New Plans for Google Megaproject

Google’s proposal for a massive mixed-use development at the western edge of downtown San Jose, Calif., has taken a step forward with the city’s public release of revised plans and environmental documents for the roughly 80-acre project.

The search giant’s resubmitted application offers new details of the Downtown West Mixed-Use Plan, which calls for as much as 7.3 million gross square feet of office space, 4,000 units of new housing and up to 500,000 square feet for retail, cultural and arts uses.

Google’s updated project submittal, available on the city’s website, is accompanied by a 1,350-page draft environmental impact report. The Mountain View, Calif.-based firm formally submitted its proposal for the project in October 2019.

Your success blesses others. I wish you a great a hugely impactful week!

Ken Ashley