Google Expands into Retail by Kevin Sanz, CCIM, MISRE

Posted on July 22, 2021

In another sign that brick-and-mortar is alive and well, Google in June opened its first physical retail store, allowing consumers to touch and interact with the company’s wide range of products and services, including Pixel phones, Nest smart thermostats and Fitbit devices. This is nothing like the temporary, pop-up stores in major cities that Google experimented with in prior years; the New York store covers 5,000 square feet in the former Port Authority building at 15th Street and 9th Avenue, which the company purchased in 2010 for $1.9 billion. And, this is just the tip of the iceberg when it comes to Google’s portfolio of commercial real estate holdings, which, as of September 2020, totaled more than $39 billion in land and buildings.

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