{"id":1101312,"date":"2023-01-30T00:34:00","date_gmt":"2023-01-30T05:34:00","guid":{"rendered":"https:\/\/www.prime-wow.com\/?p=1101312"},"modified":"2023-01-30T00:34:00","modified_gmt":"2023-01-30T05:34:00","slug":"amazon-is-selling-its-29-acre-bay-area-property-as-return-to-office-stalls","status":"publish","type":"post","link":"https:\/\/www.prime-wow.com\/?p=1101312","title":{"rendered":"Amazon is Selling Its 29-Acre Bay Area Property as Return to Office Stalls"},"content":{"rendered":"<p>Amazon is &#8220;selling a vacant Bay Area office complex purchased about 16 months ago,&#8221; reports Bloomberg, &#8220;the company&#8217;s latest effort to unwind a pandemic-era expansion that left it with a surfeit of warehouses and employees.&#8221;<br \/>\nAmazon in October 2021 paid $123 million for the 29-acre property in Milpitas, California, part of a strategy to lock up real estate near big cities that could be used for new warehouses and facilitate future growth&#8230;. Amazon is expected to take a loss on the sale of the Metro Corporate Center, according to one person familiar with the terms of the deal, who spoke on condition of anonymity&#8230;. <\/p>\n<p>Amazon last year began its biggest-ever round of job cuts that will ultimately affect 18,000 workers around the globe. The world&#8217;s largest e-commerce company, which is scheduled to report earnings on Feb. 2, warned investors that fourth-quarter sales growth would be the slowest in its history.<\/p>\n<p>SFGate writes that the possible sale &#8220;is indicative of broader trends in Bay Area corporate real estate, which has struggled with remote work, tech layoffs and broader economic shifts.&#8221; <\/p>\n<p>&#8220;According to a report by commercial real estate firm Kidder Mathews, direct office vacancies in San Francisco rose to more than 18.4% in the fourth quarter of 2022, while a Kastle Systems report found that office occupancy rates rose to 41.8%, just 1% higher than the rates in September 2022.&#8221;<\/p>\n<p \/>\n<div class=\"share_submission\">\n<a class=\"slashpop\" href=\"http:\/\/twitter.com\/home?status=Amazon+is+Selling+Its+29-Acre+Bay+Area+Property+as+Return+to+Office+Stalls%3A+https%3A%2F%2Fbit.ly%2F40b4LtV\"><img decoding=\"async\" src=\"https:\/\/www.prime-wow.com\/wp-content\/uploads\/2023\/01\/twitter_icon_large-1141.png\" \/><\/a><br \/>\n<a class=\"slashpop\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fit.slashdot.org%2Fstory%2F23%2F01%2F30%2F0141201%2Famazon-is-selling-its-29-acre-bay-area-property-as-return-to-office-stalls%3Futm_source%3Dslashdot%26utm_medium%3Dfacebook\"><img decoding=\"async\" src=\"https:\/\/www.prime-wow.com\/wp-content\/uploads\/2023\/01\/facebook_icon_large-572.png\" \/><\/a><\/p>\n<\/div>\n<p><a href=\"https:\/\/it.slashdot.org\/story\/23\/01\/30\/0141201\/amazon-is-selling-its-29-acre-bay-area-property-as-return-to-office-stalls?utm_source=rss1.0moreanon&amp;utm_medium=feed\">Read more of this story<\/a> at Slashdot.<\/p>\n<p>&#013;<br \/>\n&#013;<br \/>\nSource: Slashdot &#8211; <a href=\"https:\/\/it.slashdot.org\/story\/23\/01\/30\/0141201\/amazon-is-selling-its-29-acre-bay-area-property-as-return-to-office-stalls?utm_source=rss1.0mainlinkanon&amp;utm_medium=feed\" target=\"_blank\" rel=\"noopener\">Amazon is Selling Its 29-Acre Bay Area Property as Return to Office Stalls<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon is &#8220;selling a vacant Bay Area office complex purchased about 16 months ago,&#8221; reports Bloomberg, &#8220;the company&#8217;s latest effort to unwind a pandemic-era expansion that left it with a surfeit of warehouses and employees.&#8221; Amazon in October 2021 paid &hellip; <a href=\"https:\/\/www.prime-wow.com\/?p=1101312\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1101313,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[101,110],"tags":[100],"class_list":["post-1101312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-slashdot","category-unfiltered-rss","tag-slashdot"],"_links":{"self":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1101312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1101312"}],"version-history":[{"count":0,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1101312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/media\/1101313"}],"wp:attachment":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1101312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1101312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1101312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}