Summary
In this episode of the Cause Leadership Podcast, David Hutchinson speaks with Jeff Good, a Principal at Cresa, about the intricacies of real estate for nonprofits and charities. They discuss the challenges these organizations face in negotiating real estate, the impact of the pandemic on space utilization, and the importance of hybrid work models. Jeff emphasizes the need for nonprofits to understand their real estate needs, the pros and cons of owning versus leasing, and how to attract talent in a competitive market. The conversation also touches on market trends and predictions for the future of real estate in the GTHA.
Takeaways
- Real estate is often the second largest expense for nonprofits.
- Cresa exclusively represents tenants, avoiding conflicts of interest.
- Nonprofits face unique challenges in real estate negotiations.
- The pandemic has shifted how charities utilize office space.
- Hybrid work models are becoming the norm for many organizations.
- Downsizing or right-sizing office space can lead to significant savings.
- Attracting talent is easier with flexible work arrangements.
- Culture and socialization are crucial for team cohesion in a hybrid environment.
- Market conditions have changed, leading to higher vacancy rates in some areas.
- Flexibility in lease terms is essential for future planning.
Chapters
00:00 Introduction to Real Estate for Nonprofits
03:12 Understanding Cresa’s Role in the Market
05:49 Challenges Nonprofits Face in Real Estate
09:07 The Impact of the Pandemic on Real Estate Needs
11:58 Hybrid Work Models and Space Utilization
17:56 Evaluating Office Space Options
21:49 Ownership vs. Leasing for Nonprofits
26:48 Attracting Talent in a Hybrid Environment
29:55 Culture and Socialization in Nonprofits
38:40 Market Trends and Future Predictions
Guest Bio: Jeff Good
After finishing his undergrad, Jeff spent the next 20 years working with two for-profit organizations, Procter & Gamble and General Mills. In 2005, he moved into the not-for-profit world as a capital campaign fundraiser with the YMCA, and later was recruited to be the President and CEO of Junior Achievement of Central Ontario. More recently, Jeff has served as Principal in the Charity and Non-Profit real estate practice at Cresa since 2011. This provides entirely new ways to create breakthrough opportunities and solve problems for businesses and charities alike. Now Jeff’s passion, skills and experience benefit organizations throughout the province.
Connecting with Jeff:
https://www.linkedin.com/in/goodworld/
https://www.cresa.com/Locations/North-America/Ontario-Canada/Toronto-ON
Download the 2025 Nonprofit Benchmarking Report:
https://www.cresa.com/Whitepapers/2025-Canadian-Nonprofit-Benchmarking-Report
