<story><title>Google is buying Chelsea Market building for over $2B</title><url>https://therealdeal.com/2018/02/06/google-is-buying-chelsea-market-building-for-2b-plus/</url></story><parent_chain></parent_chain><comment><author>aresant</author><text>This is such a fascinating cycle.&lt;p&gt;Large pensions &amp;amp; sovereign wealth funds are so desperate for yield vs. low treasuries that they have pushed income producing commercial real estate values to all time highs.&lt;p&gt;As a result these fund managers are then forced to take on larger risks to cover their liabilities by making larger portfolio allocations into public techs like Google, and privates like AirBNB &amp;amp; Uber.&lt;p&gt;And this dry powder has helped the technology companies get so insanely big and sophisticated that they are hiring away the best fund guys to manage their own treasury desks and drive commercial real estate transactions like this one!&lt;p&gt;Funds would have KILLED to get a deal with Google locked into a long term lease.&lt;p&gt;But because Google is taking themselves off the market as a tenant, the funds again have to go and chase riskier yield, like larger allocations in tech . . . the entire macroeconomy is just turning into a bizarre Möbius strip . . .</text></comment>
<story><title>Google is buying Chelsea Market building for over $2B</title><url>https://therealdeal.com/2018/02/06/google-is-buying-chelsea-market-building-for-2b-plus/</url></story><parent_chain></parent_chain><comment><author>CodeSheikh</author><text>Google NYC is literally right across the block from Chelsea Market. This transaction would mean that Google will occupy the real estate above the actual market. Chelsea Market is an amazing place with great offerings of food etc. As long as this transaction does not ruin the ecosystem of CM then New Yorkers are OK with this transaction. Lets face it who would not want to sell their real estate to The Google?</text></comment>