WSJ: Google to Buy New York City Office Building for $2.1 Billion
A rendering of St. John’s Terminal, which is currently under construction and expected to open in mid-2023.
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Google’s purchase of the 1.3 million-square-foot waterfront property is the latest sign that fears of the office building’s demise look overblown. Vacancy rates across the U.S. are well above pre-pandemic levels and office rents have tumbled. But in recent weeks there is evidence that cheaper space is luring back corporate tenants, which have been shrugging off delays in returning to the office because of the Delta variant and are planning for the years ahead.
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https://www.wsj.com/articles/google-to-buy-new-york-city-office-building-for-2-1-billion-11632225600
