Quote:
Originally Posted by Handro
Deeply uncool--until Google moves in and all the vacant office space (that costs a tiny fraction of comparable spaces in similar neighborhoods in SF and NY) downtown suddenly becomes very attractive to smaller tech companies... Pretty much the same thing happened in Fulton Market, right? There's been lots of talk of Google adding lots of new jobs in Chicago, maybe their Fulton Market office will be for engineers and tech workers and the new space would be for the front facing roles?
Unless I'm misreading this totally. Does Google have a RE arm now?
|
Exactly. Google could go into the uncoolest area and magically make it cool. Not many people actually thinks meatpacking itself is cool but Google showed up to it in Chicago and voila.
Google is investing in real estate but I think everytime they do it, they put some offices in there. Just like McDonald's at least. They own the real estate but also have their business on/in it. I'm not aware of any specific real estate investing arm that Google or its parent Alphabet has. They have typically invested via venture capital but buying real estate and purely being a landlord without them having offices there would be a first