2022 Year in Review: David Menaged, TROT

What person, project, transaction, or market trend had the greatest impact on your industry this year? As the market shifted due to the pandemic and cutting-edge technologies enabled people to work remotely and efficiently, flexibility became a priority for both individuals and businesses. We are seeing a monumental market shift towards flexibility in rental transactions that the commercial market has not seen before in such volume.

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? TROT is my biggest 2022 accomplishment. Property owners now have a vertical option to enter the flex industry that doesn’t require upfront investment or the need to partner with third-party providers. Owners can wake up with zero flex offering in their portfolios and go to sleep with an actionable strategy.

How has your career path changed in 2022? Launching TROT is the single biggest career path change that I have experienced in the past 25 years. Running TROT while still at the helm of my agency and managing traditional lease deals on behalf of tenants and landlords that I represent has definitely kept my schedule full.

What emerging trends will drive investment and development in 2023? Downsizing offices, flexible schedules, and increased lease expirations will put pressure on the market, leading to downward pressure on pricing and increased willingness from landlords for creative and new ways to rent spaces. There will also be a push for more affordable housing, while developers pause commercial office projects.