Quote:
Originally Posted by AusTxDevelopment
I heard an interesting rumor last night at a broker event. Google approached the developer/owners and asked them what it would take to get Google out of this lease because they won't need the space now. If I remember correctly, the lease is for either 10 or 12 years. Developer said sorry, if you want out you'll have to pay it off in full.
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I don't have intel on this but it is plausible. We know Google (and every other big tech company at the moment) is looking to cut costs, they have a lot of office space in Austin at 500W 2nd and 900 E 5th, and they had a good number of their Austin staff reclassify as remote. Also, relocation to Austin has slowed after the substantial rise in housing prices. There seems to be more focus on Atlanta as the new place to go for cheap housing.