I currently work in an acquisitions role for a firm that buys almost exclusively suburban assets and after being in the role for a little while I can say that I have found the work to be a little boring. Is it irrational to look at moving to a firm with more of an urban acquisition/development focus or is working on downtown high rise or mixed use projects less glamorous than it sounds?
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No, this is not irrational. Urban mixed use development (and investments I'd suppose) is far more interesting, dynamic, even "difficult" than suburban assets. The level of amenities, architectural significance, and just overall "cool" factor is much greater and many think this. I mean, which is the "better" city by WSO worldy standards... Des Moines or New York City??? Not to offend any Iowans... but it's called fly-over country for a reason. So, I think your thought process is very very common!
Final thought, this doesn't mean that urban assets/projects are necessarily "better" or will generate higher rates of returns than suburban assets in the short run or long run, especially when the extra "price" of urban is factored. So, maybe you can be richer in the suburbs? Less competition... it's a "possible". Just saying your firm's strategy may be 100% right for the type of capital and firm it is, but for your career... sure I totally get it
Disclosure... I work for a developer that mainly focuses on urban high-rise complex development but does some suburban development outside of core markets from time to time (meaning, I'm with you on finding it interesting!).
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