I have very real examples of this being the case where I am. There’s a lot of real estate that if it falls in value it materially impacts the exec leadership. No wonder they are so keen to save Pret.
People who have investments in:
• corporate real estate and companies like Blackrock, Concord Pacific and Amazon who easily own tens of billions of dollars of corporate real estate.
• downtown coffee shops that exist to ripoff serve otherwise stranded office workers.
• car and oil companies because all that rush hour traffic makes them money.
• road construction companies since rush hour traffic jams means easy bribing governments into paying billions for complex and frequently experimental road enhancements.
Here’s a fun article from pre-covid about Amazon buying Vancouver’s old post office building. They gutted the historic building and left only the outer shell. And added an estimated 4.2 million square feet of office space in one of the most expensive cities and pro-WFH cities in the world.
Better for whom?
Board rooms full of people heavily invested in commercial real estate.
I have very real examples of this being the case where I am. There’s a lot of real estate that if it falls in value it materially impacts the exec leadership. No wonder they are so keen to save Pret.
People who have investments in:
• corporate real estate and companies like Blackrock, Concord Pacific and Amazon who easily own tens of billions of dollars of corporate real estate.
• downtown coffee shops that exist to
ripoffserve otherwise stranded office workers.• car and oil companies because all that rush hour traffic makes them money.
• road construction companies since rush hour traffic jams means easy bribing governments into paying billions for complex and frequently experimental road enhancements.
You forgot the governments who gave Amazon $5 billion in subsidies to have offices in their jurisdictions: https://qz.com/amazon-s-5-billion-discount-see-all-its-tax-cuts-and-1849821611
Here’s a fun article from pre-covid about Amazon buying Vancouver’s old post office building. They gutted the historic building and left only the outer shell. And added an estimated 4.2 million square feet of office space in one of the most expensive cities and pro-WFH cities in the world.
https://vancouversun.com/business/commercial-real-estate/commercial-real-estate-amazon-to-take-over-entire-former-canada-post-building