Partly because people that control large companies that lease large office buildings have a lot of money to lose if office space were devalued as much as it should be.
Large commercial office spaces are one of the more historically stable investments that banks have money tied up in. The WFH shift of covid was a massive threat to those portfolios and freaked people out
This is the answer. And the C levels renting from these spaces are absolutely invested in the companies that lease the space.
I’ve seen it even more incestuous as well. CEO buys building for kids and lets other C levels get in on it. The company rents a space. Everyone at C level agrees it’s the best space because they can get a sweetheart deal on rent for the company. Company pays for space, money flows back to C Suite and CEO doesn’t have to pay for kids’ lifestyles anymore.
There’s a very nice office building like that down from me, except it’s CEOs cousin or nephew or something. It came out when they started pushing for RTO as soon as they could.
Must be nice getting C level salary, a little extra in your bonus for getting a sweetheart rental deal, and passive income from being a partial owner of the building your company rents from.
Partly because people that control large companies that lease large office buildings have a lot of money to lose if office space were devalued as much as it should be.
Large commercial office spaces are one of the more historically stable investments that banks have money tied up in. The WFH shift of covid was a massive threat to those portfolios and freaked people out
This is the answer. And the C levels renting from these spaces are absolutely invested in the companies that lease the space.
I’ve seen it even more incestuous as well. CEO buys building for kids and lets other C levels get in on it. The company rents a space. Everyone at C level agrees it’s the best space because they can get a sweetheart deal on rent for the company. Company pays for space, money flows back to C Suite and CEO doesn’t have to pay for kids’ lifestyles anymore.
There’s a very nice office building like that down from me, except it’s CEOs cousin or nephew or something. It came out when they started pushing for RTO as soon as they could.
Must be nice getting C level salary, a little extra in your bonus for getting a sweetheart rental deal, and passive income from being a partial owner of the building your company rents from.