Is Office the new antifragile asset?

Rampant inflation, Russia attacks Ukraine and yet gold fails to break new highs. BTC is still unproven. Bonds started correlating with stock returns during the Pandemic and are will go nowhere while inflation threatens. Commodities appear to a risk off trade for now, but where can one preserve capital?

How about investing in well-leased office real estate? Values are 20%+ below replacement cost. Cap rates are 6 – 8% in non-gateway markets.

Seventy-five percent of executives are back in the office while 30% of employees desire to return…and the employees are winning. For now. The next recession will be the first where office occupancies will actually increase.


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