I don't get why Google and others are not going out of the valley to nearby cities like Sacramento? The difference in property acquisition is probably pocket change to the company, but I reckon the quality of life to the Googlers, Facebookers etc would be vastly different.
Google pays $250M for Sunnyvale offices where 3,000 could work
21–30 of 115 posts
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#22Recently my rent in Sunnyvale for a nice two bedroom went up to $2900* a month from $2100 Looks like the trend will continue. *not including trash and utilities.
You can easily rent a bedroom in an older house or multi-room apartment for around $1000-1200 in Palo Alto, Mountain View, and Sunnyvale though. A few of my coworkers do this.
So, same price? (2400 for two bedrooms, add a premium for not being 2 roms in a 4-rom flat)?
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#23I don't get why Google and others are not going out of the valley to nearby cities like Sacramento? The difference in property acquisition is probably pocket change to the company, but I reckon the quality of life to the Googlers, Facebookers etc would be vastly different.
This
You can have shuttle buses between campuses from when you really need to be in one place, for example
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#24Recently my rent in Sunnyvale for a nice two bedroom went up to $2900* a month from $2100 Looks like the trend will continue. *not including trash and utilities.
Rent near Manhattan in the NYC area is quite bad as well. In Manhattan, a tiny one-bedroom will cost you $3500.In the parts of Queens, Brooklyn and Jersey City that are fairly close (commuting time-wise) to Manhattan, the rents are horrible as well.
One of my friends pays circa $2,600/mo for a one-bedroom in Carrol Gardens. An acquaintance in Long Island City had to move out of a two bedroom apartment in Long Island City, because the landlord increased the rent to $4000/month! Exchange Place (Jersey City), Brooklyn Heights, and Downtown Brooklyn are similarly super-expensive.
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#25I find it crazy how the big IT companies are still willing to pay almost a million a worker per office (most likely much more if you count running costs), any idea why Google is not hiring more people remotely? I mean, if that's a modern IT company that cares for employees it would be the case, I'd rather make $100k in different state or even country, than pay $5k for rent in the bay...
First, 250m for 3000 ppl is 100k/worker. Secondly, buying a building is (save some closing and renovation costs) a neutral operation on your balance sheet, especially if you're flush with cash. In other words, when you buy a building, it maintains its value.
Yes, and a company with as much cash as Google can finance at near-zero interest nowadays. (Not sure if they did, but they could).
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#26I don't get why Google and others are not going out of the valley to nearby cities like Sacramento? The difference in property acquisition is probably pocket change to the company, but I reckon the quality of life to the Googlers, Facebookers etc would be vastly different.
Why stop there though? Why not open up shop near a university town with a low cost of living? Steady supply of interns, new hires, R&D partnerships, etc. Culture in a university town, while not on par with a major city, is generally quite well too.
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#27I don't get why Google and others are not going out of the valley to nearby cities like Sacramento? The difference in property acquisition is probably pocket change to the company, but I reckon the quality of life to the Googlers, Facebookers etc would be vastly different.
Why stop there though? Why not open up shop near a university town with a low cost of living? Steady supply of interns, new hires, R&D partnerships, etc. Culture in a university town, while not on par with a major city, is generally quite well too.
As a real estate developer, I would love to see some more discussion on this thread. What would it take to get a major tech company to relocate an office or two from Bay Area to much cheaper regions. Obvious items would be network effects, primarily access to skilled labor and capital. What else? Cheap, frequent flights to the mothership? Has Google fiber and the likes had any real impact on luring tech workers out? If anyone knows of existing discussion or papers on the topic, id love to read it. I'm in Memphis TN, and cities in the area have low cost of living, some dense urban areas, etc. Oh, and 30-40 story class A office towers that are partially filled.
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#28That's 83k per employee.
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#29I don't get why Google and others are not going out of the valley to nearby cities like Sacramento? The difference in property acquisition is probably pocket change to the company, but I reckon the quality of life to the Googlers, Facebookers etc would be vastly different.
This You can have shuttle buses between campuses from when you really need to be in one place, for example
Or like Intel a corporate jet to go between Folsom and Santa Clara. Works really well actually.
Re: Google pays $250M for Sunnyvale offices where 3,000 could work
#30I don't get why Google and others are not going out of the valley to nearby cities like Sacramento? The difference in property acquisition is probably pocket change to the company, but I reckon the quality of life to the Googlers, Facebookers etc would be vastly different.
This You can have shuttle buses between campuses from when you really need to be in one place, for example
[deleted]