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the death of the urban office building


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Google’s $2.1 billion office building deal is latest sign of Big Tech’s muscle in Manhattan market


 

 

Google’s $2.1 billion deal to buy a Manhattan office building adds to the rapid growth of Silicon Alley.

 

Its latest deal brings its total square footage in Manhattan to over 3.1 million square feet.

 

The leasing activity from Big Tech has helped spark early signs of a recovery in the Manhattan office market, which has been hit hard by the Covid-19 pandemic and urban flight.

 

https://www.cnbc.com/2021/09/22/big-tech-is-helping-to-save-manhattans-real-estate-market-.html

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Hines, Korean Pension Fund Bet Big on San Francisco Comeback

 

They plan to redevelop site of PG&E’s office campus in San Francisco


https://www.wsj.com/articles/hines-korean-pension-fund-bet-big-on-san-francisco-comeback-11632225601

 

Real-estate developer Hines Interests LP and a South Korean pension fund are planning a $2.5 billion-plus office and apartment project in San Francisco, a vote of confidence in one of the markets most upended by the pandemic.

 

Edited by fareastwarriors
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On 9/15/2021 at 10:12 PM, Spekulatius said:

Not sure where this post should go. This is a WFH study conducted by Microsoft Results are not positive, Imo:

https://www.nature.com/articles/s41562-021-01196-4

Basically sounds like WFH will be a competitive disadvantage for creative companies to a certain extent. 
 

Companies that only require data entry for example, don’t need to have an employees randomly meeting and interacting. WFH may be a competitive advantage in these cases. 

 

In Creativity, Inc, it talks about building the new cafeteria for Pixar and Steve Jobs required that it be set up so all employees would be in the same area and thus more likely to share different kinds of info, just like this study suggests.

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NYC Office Market Revives With Tech Firms Hunting for Space

 

Microsoft, Roku among companies seeking Manhattan leases

Growing firms line up new offices even as staffs work remotely

 

https://www.bloomberg.com/news/articles/2021-09-24/nyc-tech-push-gains-steam-with-microsoft-roku-in-hunt-for-space

 

Video-streaming company Roku is in talks to lease more than 100,000 square feet at 5 Times Square in Midtown, and Microsoft is close to a deal for roughly 100,000 square feet in the Flatiron district, according to people familiar with the companies’ plans. Stripe recently took more than 100,000 square feet at a WeWork location in lower Manhattan, people familiar with the transaction said.  

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