#realestate

what is the latest and greatest ?

Not sure if others have noticed, but the Frisco executive center is now sharing space with Intuit employees. It’s been noticeably more crowded lately and it doesn’t feel like the same place it was when we first moved in.

Which honestly brings up something I’ve been thinking about for a while — was Frisco even the right call to begin with?

The location is surrounded by toll roads. For a lot of us commuting in every day, there’s really no way around it. Those tolls add up and that cost falls on employees, not the company. That felt like an oversight when we moved in and it still does.

And now we’re sharing the space with an outside company? That wasn’t exactly part of the pitch when this place was built. So it makes you wonder — is this a cash flow issue? Or did the business case for building here just not hold up the way leadership said it would?

Either way, it’s a fair question. The people who made this decision aren’t the ones paying tolls every morning to get there.

Aren’t we supposed to be moved by end of year? Or are we all Getting canned?

Been a lot of buzz in the real estate team about Nashville. A lot of companies you’re moving there. Talent pool is getting deeper. Is Nashville the new Atlanta maybe the new Frisco or OP?

Long rumored and finally here. Campus to be sold to data center developers

Crime-ridden Pittsburgh strikes again. This time a 19 yr old shot and ki-led less than 500 feet from headquarters. [https://www.cbsnews.com/pittsburgh/news/pittsburgh-man-shot-market-square-police-investigation/] And just like clockwork Bill and the execs are silent regarding employee safety in and around the buildings. Not surprised considering how they treated the RTO announcement. Just set it and forget it. Not to mention they are also incredibly silent about the cost of RTO. Remember folks RTO has nothing to do about collaboration and innovation, no, no, no, RTO is purely demanded to keep real estate numbers up. Don’t you get it folks. We are a disposable pawn used as leverage to keep over extended real estate purchases meaningful. I’m so thrilled to spend $5/gallon $38 parking, to commute 75 minutes to a highly distracting open office and take calls with people all across the nation and fake smile like I enjoy being here. Our team output is dropping like a rock. Lead dev left to go to a competitor. Team morale is slowing losing the battle. Our wallets are screaming. Our raises are comical (if you get a raise). Compensation is 15 years behind. I’m looking at stopping my 401K contributions just to afford the cost of living. What really pi---s us off is everything we did in office last week was no different from what we did while remote. But remember the real estate investments. If you ever wanted to see a real life example of shooting yourself in the foot, look no further. We are watching it play out and we have all summer ahead of us. Don’t forget the real estate investments and the CEO’s 30% comp increase. I hope this drop in production doesn’t hurt me and my team’s end of year reviews.

https://share.google/8GK5V3V463T8v147p

Hasn’t been announced but looks like they did some sneaky layoffs today. This time it hit recruitment and real estate. ,

What real estate is actually getting sold off?

I got terminated from my job after 7 years. It wasn’t easy to accept especially knowing I was one of the top earners on my team. Last year my performance slipped, and looking back, I could feel something was off. I started to realize I was being pushed out.

But here’s the thing sometimes what feels like a setback is actually a reset.

At the start of this year, I shifted my focus fully into the stock market. I had been learning and investing for almost 6 years, but never gave it 100%. Now I am and I genuinely love it. For the first time, I feel like I’m building something for myself, not just working for someone else.

I’m also starting to move into rental properties, creating another path for income and independence. I don’t know exactly where this road will lead, but I know I’m no longer standing still.

I’m sharing this because conversations like these helped me prepare mentally. If you still have a job, stay sharp and keep growing. If you feel like something isn’t right at work, don’t ignore it prepare yourself. Build skills, save money, create options.

Don’t wait until you’re forced to move -move before that.

Sometimes you don’t realize your strength until you’re pushed into the unknown.

Good luck to everyone on their journey.

Hey Billie D! Let’s see how well the bank does this quarter coming up with lower productivity because you can’t adapt to modern time and need to save face with all of the real estate you purchased by displacing employees who could manage work life balance for once. How fun!! Can’t wait to hear about it!

Does this mean Robbie "I look mahvelous in my hoodie and sneakers" Thomas soon takes over to be IBM CCO (Chief Cheerleading Officer)?

https://www.zillow.com/homedetails/96-Norrans-Ridge-Dr-Ridgefield-CT-06877/57345758_zpid/

I have a hard time believing this is just about managing real estate.

It seems like prime real estate for a few divisions. Or are they just going to demolish it all? They wouldn’t sell it to Solventum. Supposedly they tried to buy it but 3M’s price was far too high.

Oil is going up again, and that hits way more than gas. It drives up the cost of literally everything tied to construction. Steel, concrete, transportation, labor, all of it gets more expensive fast. It’s not crazy to see 25-50% increases when energy spikes.

And we’re in the middle of committing billions at peak pricing to a new HQ… right as commercial real estate is weakening and companies everywhere are cutting office space.

That’s the part that’s hard to ignore. This isn’t just a bad look, it’s bad timing. You’re locking into a massive, fixed-cost project while the market is moving the other way and the cost to build it is actively rising. (Again)

We could easily be talking about hundreds of millions more than originally expected just because of where energy and inflation are heading.

We’ve seen this pattern before. Big bets. Late timing. Expensive outcomes. Yet another blunder… It’s beyond being bad luck. This is an ongoing pattern of failure.

Seems like it was a couple of years ago that Frank said there’d be a new campus in Kansas City. Did those plans get shelved?

Memo went out that Coral campus was sold, but we're in a lease back agreement and will stay from 18-36 months until Fiserv finds a new campus.

They are staying in South Florida, that much was clear. Where to next? Hoping it's not Miami.

It stands to reason the overall workload is going to be less (but may be more for some people, depending on the job function). The network is being allowed to deteriorate. Not as many real estate people and rf engineers are needed if we are going to let the network coast (with some work here and there).

https://www.workspaceproperty.com/property/7628-thorndike-road-greensboro-nc-27409/

I am thinking of buying up real estate right next to the new HQ over the next few years and then renting them out. There will always be employees of all kinds: single, families, and interns who will need a place to stay. Seems like a strong investment. Buy real estate and rent out to other employees.

Rumors that Bedminster is closing and the outcasts will be divided between Middletown and Paramus.

Another baseless rumor or a glimpse of CRE's playbook?

The transaction involved the acquisition of the West End Center office complex, which consists of two buildings.

https://traded.co/deals/north-carolina/office/sale/809-west-4-1-2-st-winston-sale/

yepp it’s true. had a meeting about it today that ruined my whole day. they hired these people as remote workers and are now firing them for being remote. how cruel. and they say it’s to promote “collaboration” but nobody in office collaborates on anything. and our team is split up between 5 offices so everything is done virtual anyways. it feels like BS just to fill up offices and keep their precious precious real estate value. what else would be the point of laying off fully trained employees just to replace them with in office workers? and we already can’t handle our workloads, the last thing we need right now is to lose a bunch of people. this is gonna hit the rest of us hard.

https://www.wtvr.com/news/local-news/costar-layoffs-richmond-feb-18-2026

Says it hit homes.com

Honestly, these landlords shouldn’t have anything to do with the Macy’s name if they continue to own malls with the stores in them.

The writing really is on the wall when you see a mall owned by one of these two. I think that if your store is owned by these companies, then you should probably be scared. Is it safe to say that the company should adjust their closing locations in relation to these slumlords?

Sorry, I’m just a little upset for the condition of the mall I used to really like and since it’s been owned by one of these two companies, it’s gone to absolute he-l regarding maintenance and tenants leaving, and overall neglect.

https://www.cushmanwakefield.com/en/united-states/properties/for-lease/office/ca/san-diego/17095-via-del-campo/s119291849-227787-l

Tdc isn't doing great but other like there's no way there going to layoff everyone in SD. Think the post is a scam or are they planning on sending everyone to a we work

The leadership at AT&T is non existent. The fact they would announce building a new corporate campus than will likely cost upwards of $2 Billion while continuing to layoff hardworking, valuable employees is disgraceful. I’m sure this new campus will have all the wonderful features and amenities to highlights its lavish lifestyle existence while the peasant who are so graciously allowed to keep their jobs work in spaces that are old and filthy. Dirty bathrooms, paint peeling off walls, dirty carpets etc.

Stankey and the board are complicit in the corruption and incompetence.

We are all just pawns in this RTO bs game designed to make people so miserable they quit while also propping up real estate portfolios of black rock, Stankeys overlords. He has no original thoughts or ideas. He just does as he’s told to do, and the board is complicit. This company is just about dead, and Stank is the most commonly hated CEO in the world. Nobody believes in him. He’s proven time and time again that he is nothing but a loser with his buy high sell low tactics. He’s burned billions and needs to be held accountable.

https://www.sdxcentral.com/news/cisco-sells-4-silicon-valley-buildings-for-63m/

What is going on with those two love birds? Are they still bringing 5100 jobs to the Train station? I ask because an investment / real estate project is banking on that and I don't see it happening.

Is the GRE group safe?

I’m in cell site real estate and my manager said we’re most likely safe. Manager heard nothing as far as RIFs go. Working from office 3x a week.

Does anyone else work at Hidden Ridge?

Reports that Verizon leadership had denied mass closings are false. I work closely with Global Real Estate. We have stopped renewing some Retail leases about a year ago in preparation for mass closings. This will equate to about 2/3 stores per district being closed. Verizon wants out of the expensive in-person experience and move to AI. By 2030 all retail will be shifted to an app.

I wish everyone here the best.

I'm curious if anyone has any thoughts on the latest RTO development, at least in the U.S. where an announcement was made this week of selling a couple of the buildings in Greenville, but re-stating the RTO of 4 days per week. This seems odd to me, in that I don't see how you can force more people into significantly less space? In addition, I understand there will be no dedicated desks, making this objective even more complicated. Anyone have any insight?

Is it true the that Verizon wants to RIF most employees in non-directional locations in late 2026 and 2027 as part of the broader strategy to go lean?

Now that we have three main directional locations, Dan wants to accelerate the plan to shutdown real estate in non-directional locations (cost reduction), make 5 days in office and then start removing the employees in non directional locations. Of course some key ones would be asked to relocate.

This is probably not the case for the RIF this month but coming in 2026!

So they are moving forward with renovations at 1RP. I’ve heard rumors (so take it with a grain of salt) that there will be more of an open concept floor plan (gross) and that they are fixing up the building to sell (more likely if OH doesn’t change the laws around generation). Anyone heard anything else?

Reported in this mornings News & Observer -- campus to be completely vacated by March 2026. The land has been sold to data center developers.

So AT&T calls this their main and flagship office location. This office is a pathetic excuse for an office. I feel like I am in a 3rd world country.

There is no parking. Cars park illegally everywhere and drive over the speed limit. The parking they do have available is far back out by the dumpster.

Once I do make the walk into the office all the desks are taken and I have to work from the cafe. I have already contacted real estate about the situation, and they told me this is their only and flagship office available for drop ins in the Dallas suburbs. When I pressed them about parking and desk shortages, they told me I can take a shuttle from 2900 W Plano Pkwy, which is their CDO office and lengthens my commute further.

This company is pathetic. We have billions of dollars in free cash flow, yet we cannot have a respectable suburb office. 5 day RTO to improve collaboration, but now I have park out by the dumpster in the back and work in the cafe while someone warms up their fish lunch.

I've read at least a dozen different things - What's going to happen? They signed a 20-year lease for the office space and it's by far the most attractive office we have IMO.

Are we ready to call RTO a failure and change course? Or do we need to see new lows for the year first?

Sell all the real estate and make wall st happy