Google Spends Billions On Buying Office Buildings: Is This A Sign Of The Post-Pandemic Pushback Against Remote Work?

Google announced Friday that it would purchase a London office building for $1 billion.

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1/17/2022 11:45:00 AM

Google announced Friday that it would purchase a London office building for $1 billion.

Going counter to the remote and hybrid-workplace trend, Google announced Friday that it would purchase a London office building for $1 billion.

Previously, Alphabet proposed constructing a largecompany-townproject in Mountain View, California. The tech behemoth will build a combination of houses, retail stores, parks and recreations and a corporate campus spanning 40 acres. Google’s vision, called the “Middlefield Park Master Plan,” is an updated version of the company town and offers roughly 1.33 million square feet of office space, along with residential housing, open-air recreational space, commercial buildings, retail shopping and a host of other amenities. The search-engine company will hold ownership of the campus. 

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racial equity commitments, which include continuing to grow our workforce in diverse communities, like New York.” Previously, Alphabet proposed constructing a large company-town project in Mountain View, California. The tech behemoth will build a combination of houses, retail stores, parks and recreations and a corporate campus spanning 40 acres. Google’s vision, called the “Middlefield Park Master Plan,” is an updated version of the company town and offers roughly 1.33 million square feet of office space, along with residential housing, open-air recreational space, commercial buildings, retail shopping and a host of other amenities. The search-engine company will hold ownership of the campus.  It's not just Google that’s buying or building real estate, while others are shedding their holdings. Amazon embarked on a massive $2.5 billion mixed-use office and retail complex in Northern Virginia , which could house about 25,000 employees. The second headquarters, after Seattle, will include three 22-story office and retail buildings. An outdoors theme will include woodlands, an amphitheater, walking paths, extensive bike parking and a dog run.  To hedge its bets, Amazon is anticipating that there will be people who want to come into the office on an occasional basis. Designs are being made to accommodate space where workers can collaborate with each other. Inside the office, there will be greenery and amenities, such as an artist residency program.  In another move that challenged the current trend of companies embracing employees working from home, social-media giant Meta, formerly known as Facebook, purchased the beautiful, new and unused 400,000 square foot corporate campus headquarters from outdoor lifestyle retailer Recreational Equipment Inc (REI) near Seattle.   The spectacular complex offers a design and functionality incorporating the environment and nature with an office space consistent with its outdoor lifestyle brand. It has outdoor staircases, a bridge, courtyard and skylights for workers to see the wide-open sky. The REI campus was never occupied, as the company pivoted to a remote-work setup. The company planned to sell the building in its entirety or keep some office space and rent out the rest.    The tech giants are clearly keeping all options open. It makes sense. If there is a backlash against remote work two or three years down the line, the tech companies would then have to scramble to acquire properties. Presumably, the Silicon Valley-based companies are getting good deals on the real estate, as other organizations are selling, breaking leases, subletting or going fully remote. Follow me on