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

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  • Roku Inc (NASDAQ: ROKU) and Microsoft Corp (NASDAQ: 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.

  • Amazon.com Inc (NASDAQ: AMZN) and Facebook Inc (NASDAQ: FB) have also explored options to expand their offices.

  • Alphabet Inc (NASDAQ: GOOG) (NASDAQ: 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 (NYSE: GS) and JPMorgan Chase & Co (NYSE: 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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