Commercial news from Israel - 13th January 2025

The Pendulum Swings Both Ways: A Fresh Look at the Return to Office

Here's something worth thinking about: When working remotely, you miss those precious "learning by observation" moments. And let's be honest - it's harder to catch the promotion committee's eye when you're just a face on Zoom.

Sure, young talents want to be cool and trendy. Skipping the commute is tempting (and legitimate!), but does it help build a better company?

In a recent interview with "The Globe and Mail," magazin, Mark E. Rose, Avison Young's Global CEO shared interesting details about the growing momentum around office work.

While remote work offers flexibility, time savings, and the freedom to work from anywhere - not to mention better focus and work-life balance - there's a renewed appreciation worldwide for what physical office presence brings to the table. We're talking about effective collaboration, learning through mentorship, clearer work-life boundaries, a genuine sense of belonging, and those spontaneous moments that spark big ideas.

Mark pointed out that more organizations are encouraging office attendance, with North American city centers seeing record occupancy levels since the pandemic.

The real question isn't about "office versus remote" anymore. It's about finding the right mix for your teams and goals. How do we reimagine the workplace – whether physical or virtual – to support connections, spark innovation, and help people grow in their careers?

Interestingly, Israel follows similar patterns to the rest of the world, just with our own unique "sabra" twist.

I'm curious - what's happening in your organization? What's been your experience?

Commercial real estate in Israel

Ari Real Estate (Arena) Investments Ltd. entered into an agreement for the sale of half of its rights in real estate in an area of approximately 8,000 square meters in Lakish Park, Ashdod, for NIS 37.5 million.

The Manarev Group Ltd. entered into a sale agreement to a reality fund of half of its rights in the land in the Ashdod industrial area on which three complexes are built, in exchange for NIS 200 million, as well as a commitment by reality to pay additional future consideration for the currently unused construction rights on the land.

Commercial real estate overseas

Mishorim Real Estate Investments Ltd. has completed the purchase of 50% of the rights in a commercial center known as Westland Park Plaza in Jacksonville, Florida, USA. The property was purchased for a total consideration of approximately 14 million US dollars.

Subsidiaries of Strawberry Fields Reit Limited entered into an agreement to purchase full ownership rights in 6 nursing homes totaling 354 beds, in the state of Kansas, USA, for $24 million.

Real estate in the headlines

Congratulations to my friends Ehud (Udi) Blum on his appointment as CEO of Allied Real Estate (Globes).

Amir Shaltiel sells his holdings in Metropolis to Allied for NIS 200 million (Calcalist).