Quote:
Originally Posted by clubtokyo
Also google has deep pockets obviously. indeed is owned by Japan based recruit which also has deep pockets.
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I think it's fascinating and telling that Indeed has decided against occupying the space since they have access to job postings from around the world. They may be seeing how strong the trend is toward remote work, so they're making an informed decision and have concluded that the extra office space is overkill at this time. I think things recover over time, but in at the short term the office market will struggle to maintain anything near the trajectory it was on just months ago. It's a shame because Austin was really starting to come into its own in that regard. I am hopeful that Austin will still be strong once things begin to recover as investors and major companies will gravitate toward the strong markets first.
Also, if Indeed ever needed more space downtown, I'm sure they could just do another lease for one of the many office projects in the pipeline. They're probably just being very cautious in this environment because you know it would have been pretty sweet to have an awesome office like that. I'm sure some of their employees are very disappointed.