Roku, Microsoft Join Other Counterparts In Office Space Hunt: Bloomberg

  • Roku Inc ROKU and Microsoft Corp MSFT are weighing new leases in Manhattan amid the pandemic resurgence, reflecting their growth potential, Bloomberg reports
  • Roku aims to lease over 100,000 square feet at 5 Times Square in Midtown, and Microsoft is close to a deal for 100,000 square feet in the Flatiron district despite the growing trend of hybrid work. 
  • Digital-payments firm Stripe Inc recently took over 100,000 square feet at a WeWork location in lower Manhattan. 
  • Inc AMZN and Facebook Inc FB have also explored options to expand their offices. 
  • Alphabet Inc GOOG GOOGL Google recently agreed to acquire St. John’s Terminal, a redevelopment project it was already leasing for $2.1 billion. 
  • The trend is in sharp contrast to a year and a half ago after the pandemic shut down the city and emptied its skyscrapers.
  • Goldman Sachs Group Inc GS and JPMorgan Chase & Co JPM have called back most of their workers to their buildings, unlike the tech companies.
  • Price Action: MSFT shares traded lower by 0.41% at $298.29 on the last check Friday.

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