Page 1 of 1
Fry's Former Headquarters Store Sold
Posted: February 12th, 2024, 8:23 pm
by Alpha8472
Fry's Electronics' former headquarters store will not become housing as previously thought. It will become a Tech campus.
https://www.sfgate.com/bayarea/article/ ... 663818.php
Re: Fry's Former Headquarters Store Sold
Posted: February 12th, 2024, 10:41 pm
by HCal
Rather suprising, considering work-from-home has decimated demand for tech office space. I wonder what role the NIMBYs played in this.
Re: Fry's Former Headquarters Store Sold
Posted: February 12th, 2024, 11:02 pm
by storewanderer
HCal wrote: ↑February 12th, 2024, 10:41 pm
Rather suprising, considering work-from-home has decimated demand for tech office space. I wonder what role the NIMBYs played in this.
More and more companies are calling employees back to the office. The commercial real estate market is so desperate to not completely lose its shirt... Just heard another big one in finance/investing today who was on an in office 1 of 4 weeks, who is mandating employees back 2 of 4 weeks starting in September. Then, you know, it'll turn into 3 weeks, then 4 weeks...
My guess is also this space will house employees who previously would have been told to get to an office in San Francisco but their employer is getting them out of there/trying to give them a safer location.
What is ironic is trying to repurpose these dinosaur office buildings/demolish them entirely and replace with housing or anything else would sure create a lot of jobs for construction, as well as lending opportunities for the finance industry.