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However, leasing activity at Trophy properties continues to outperform the broader market. As the flight-to-quality trend persists and the construction pipeline remains nonexistent, this could lead to rent premiums and shrinking concessions in these properties due to the constrained supply of high-quality space options. Tenants are gravitating toward better-quality space to ensure that the luxuries employees experienced while working from home also exist in the office.
Despite a strong Houston economy with 87k jobs created over the trailing 12 months through February 2024 and unemployment remaining relatively low at 4.4%, office space absorption hasn't kept pace. This disconnect is likely due to companies right-sizing and adopting remote or hybrid work models, leading to a reduced need for office space despite strong job growth, particularly in office-using sectors (62,800 new positions since the pre-pandemic peak).
150 msf

Size of a large industrial facility

Despite a strong Houston economy with 87k jobs created over the trailing 12 months through February 2024 and unemployment remaining relatively low at 4.4%, office space absorption hasn't kept pace. This disconnect is likely due to companies right-sizing and adopting remote or hybrid work models, leading to a reduced need for office space despite strong job growth, particularly in office-using sectors (62,800 new positions since the pre-pandemic peak).

15.5%

A great return on investment

Despite a strong Houston economy with 87k jobs created over the trailing 12 months through February 2024 and unemployment remaining relatively low at 4.4%, office space absorption hasn't kept pace. This disconnect is likely due to companies right-sizing and adopting remote or hybrid work models, leading to a reduced need for office space despite strong job growth, particularly in office-using sectors (62,800 new positions since the pre-pandemic peak).

$120 psf

A theoretical lease raet

Despite a strong Houston economy with 87k jobs created over the trailing 12 months through February 2024 and unemployment remaining relatively low at 4.4%, office space absorption hasn't kept pace. This disconnect is likely due to companies right-sizing and adopting remote or hybrid work models, leading to a reduced need for office space despite strong job growth, particularly in office-using sectors (62,800 new positions since the pre-pandemic peak).

Avison Young named one of Canada’s Best Managed Companies

Canada Best Managed Companies Platimum Member Seal May 14, 2024

Avison Young maintains Platinum Club member designation, celebrating 13 consecutive years

Toronto, ON – Global commercial real estate advisor Avison Young is honoured to be named one of Canada’s Best Managed Companies for the 13th year in a row, with a Platinum Club designation. The 2024 Best Managed program award winners are among the best-in-class of Canadian owned and managed companies demonstrating leadership in peoplecentric culture, effective ESG strategies, and operational digitization.

“This past year has required nimble adaptability, deliberate reflection, and strategic decisions around how we manage our business and how we advise our clients – so being distinguished by this independent process is a strong testament to our commitment to our people, clients, and our future,” said Mark Rose, Chair and CEO of Avison Young. “Winning the Canada’s Best Managed Companies award is credibility like no other and I could not be more honoured.”

Avison Young’s commitment to creating real economic, social and environmental value, powered by people, is among the reasons why the firm is a great place to work and to be a client. Based on a principal-led partnership model, Avison Young is steered by more than 700 principals around the world who are industry leaders that exemplify partnership, collaboration and a client-first mentality. Together, they work toward developing top talent; improving the firm’s service delivery platform to support clients’ evolving business needs; advancing ESG and wellness strategies; and investing in technology and innovation that shape critical decisions. 

“For over 30 years, the Best Managed program recognizes companies who see challenges as checkpoints and obstacles as opportunities,” said said Lorrie King, Partner, Deloitte Private, Global Best Managed Leader and Co-Leader, Canada’s Best Managed Companies program. “This year’s winners, including Avison Young, have combined strategic expertise and a culture of innovation to not only drive impactful business outcomes, but serve their communities as well. They should be extremely proud of this designation and use it as a catalyst to continue the work they do every day.”

Applicants are evaluated by an independent judging panel comprised of representatives from program sponsors in addition to special guest judges. Canada’s Best Managed Companies is one of the country’s leading business awards programs recognizing innovative and world-class businesses.

About Canada’s Best Managed Companies

Canada’s Best Managed Companies continues to be the mark of excellence for private Canadian owned and managed companies. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada’s Best Managed Companies new winner, one of the new winners selected each year; 2) Canada’s Best Managed Companies winner, award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review; 3) Gold Standard winner, after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years; 4) Platinum Club member, winners that have maintained their Best Managed status for seven years or more. Program sponsors are Deloitte Private, CIBC, The Globe and Mail, and TMX Group. For more information, visit www.bestmanagedcompanies.ca.

About Avison Young

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2024 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years. 

For more information:

Avison Young: Andrea Zviedris, Media Relations – North America: +1.416.891.7416

Deloitte: [email protected]