After 3 years attempting to dispose the office at 131 Greene Street, Google appears to be planning to open an outpost at the NYC.
So, they’re planning to open a store in SoHo after all. The 5,442-square-foot space could be the company’s first long-term retail location in town. It has opened only pop-up stores here including the holiday season at 110 Fifth Ave. in the Flatiron District.
The company leased the location at 131 Greene St. about 4 years ago but never opened a store and a year later, they out the store on lease. The $800bn company even haven’t got a subtenant. Earlier in 2018 an opportunity shows up to exercise a termination right. With that decision, Google is now on the hook for the still-vacant location until 2024.
The company pays about $2 million per a year as rent, and the place is worth in the current marketplace, as growing e-commerce sales and shifting consumer habits have dropped the value of brick-and-mortar retail locations.
According to the sources, holding on to the space suggests Google to plan a long-term store. The company’s biggest rivals, Apple, Amazon and Microsoft have a retail store presence that has become hard for the company to ignore, predominantly as the company has focused more on consumer hardware, such as the Pixel line of computers and smartphones.
There’s no certainty for the predicted information therefore, a spokeswoman for the company declined to comment on the potential store.
Meanwhile, Microsoft is exploring a large flagship retail location whşcgich is close, at 300 Lafayette St. in SoHo, according to the NYC business journals.