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

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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. Inside Cisco’s NYC Office, Where 5,000 Data Points Are Being Collected

Cisco’s redesigned New York office is both a showcase of the company’s technology and an example of how it sees the workplace evolving.

“WSJ takes a tour to learn how its harvesting data and facilitating hybrid work.”

Cisco's smart office is both a showcase of the company's technology, and an example of how it sees the workplace evolving.

2. Open Office: How LinkedIn Redesigned Its Flagship for Hybrid Work

At LinkedIn's new flagship office, desks are no longer the primary focus.

“With dozens of different work settings and conference room setups, the company is using its office as a hub for its hybrid workforce.”

IMAGE CREDIT: GENSLER

Before the pandemic, the data integration startup Fivetran did what a lot of its fellow Bay Area startups did to stay competitive in the marketplace for tech talent. It held what the company calls Camp Fivetran, an annual weeklong offsite gathering where its global workforce would come together for team-building and leisurely getaway time in destinations like Cancun or Wyoming. But during the pandemic, the offsite was just one of many parts of office culture that went on hiatus.

“In the meantime, the company’s workforce grew to seven times its pre-pandemic size, to more than 1,000 employees. Almost everyone was working remotely, and many were far flung from Fivetran’s Bay Area headquarters. So in late 2020, when Fivetran’s leadership began thinking about the eventual return to the office, it was clear they’d need a bigger space. What that space should look like was an open question. So they did what a data-focused company would: they surveyed workers and analyzed the data.”

“It was this moment to reevaluate from first principles whether and how to have an office,” says Fivetran CEO George Fraser. “It was pretty clear that we were not going to go back to going in every day.” For most employees the physical office would be a place visited only rarely, almost like that that annual offsite gathering.

4. The Six Qualities of Deeply Enjoyable Work

During the coronavirus lockdowns of the past years, we held many open discussions with leaders and thinkers. From them, we took away one key idea. This pandemic has finally forced us to make the long-needed changes in life and work.

“Even before the pandemic, we saw worrying numbers coming from studies and surveys. More than two-thirds of employees are not engaged at work. And around half don’t see a clear purpose there.”

During the global health crisis, many people have gained more control over their work. Suddenly, they could choose when, where, and how they work – something many managers had previously described as impossible.

5. Blackstone Bags $700M In Sale Of Stake In MGM Grand, Mandalay Bay

Blackstone Real Estate Income Trust is selling its 49.9% stake in two major casinos in Las Vegas: MGM Grand Las Vegas and the Mandalay Bay, in a deal that values the properties at a combined $5.5B.

“BREIT, Blackstone Inc.’s nontraded REIT, has owned its stake in the hotels for about three years, acquiring them from MGM Grand. The sale would net Blackstone about $700M in profit, The Wall Street Journal reports, citing sources familiar with the deal.”

“The sale ... enables us to further concentrate BREIT’s portfolio in its highest growth sectors, including logistics and rental housing,” Blackstone Real Estate Senior Managing Director Scott Trebilco said in a statement.

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