At this year’s Trepp Connect, RXR Chairman and CEO Scott Rechler discussed the growing divide in the office market, noting that well-located Class A buildings continue to strengthen while older properties face mounting obsolescence. Rechler pointed to RXR’s “Project Kodak” study from 2022, which anticipated the bifurcation in office performance years earlier.
“We said, just like film, there’s going to be a point where some buildings are going to be digital and they’re going to have a future, and some are going to be film and not have a future,” said Rechler during an interview with Trepp CEO Annemarie DiCola. “And we can’t be like Kodak and ignore the fact that they are not going to have a future.”
Commercial Property Executive Article
