Once again, Google is acquiring more real estate in New York City. On Tuesday, the company announced it would buy one of the buildings it currently rents: Google is buying Manhattan’s St. John’s terminal at 550 Washington Street for $ 2.1 billion.
New York City is Google’s second-largest campus after its headquarters in Mountain View, and this building will be part of the 1.7 million-square-foot “Hudson Square campus,” which has been expanded multiple times. The Hudson Square campus includes Chelsea Market, which Google bought for $ 2.4 billion, and Google’s first retail store, which opened earlier this year.
San Juan Terminal It was a freight train facility in the 1930s, and the building became a warehouse in the 1960s and office space in the 1980s. This latest renovation is still under construction and, like many other Google buildings, Google plans to turn it into a large glass obelisk with lots of plants and outdoor spaces. Google plans to open the building in mid-2023.
This is one of the most important office space deals since the pandemic began. That’s an understandable record, as COVID-19 is driving more and more people toward remote work, and many are not interested in going back to the office. Google nods to this trend in its blog post on the go, saying: “As Google moves toward a more flexible hybrid approach to work, coming together in person to collaborate and build community will continue to be an important part of our future. It’s why we continue to invest in our offices around the world. ” One of the many industries that the pandemic has disrupted is real estate, so Google is buying little.