Amid Industry Trend, Microsoft Markets Times Square Offices for Sublease

Microsoft Corp MSFT prepared to sublease offices in Manhattan’s Times Square as peers pared back real estate.

The tech firm is marketing over 42,000 square feet (3,900 square meters) of offices at 11 Times Square, Bloomberg cites real estate data firm CoStar.

Also Read: New Era In Commercial Real Estate? Amazon Taps We-Work For Expansion Of Office Space In London

Microsoft, which has been downsizing its workforce, reduced its real estate presence, including abandoning plans for a new office complex in London.

Firms including Alphabet Inc GOOG GOOGL, Meta Platforms Inc META, and Amazon.com Inc AMZN disclosed plans to reduce their real estate footprints, pressurizing office landlords already battling record vacancies and lower demand.

In Manhattan, companies including Twitter Inc and Spotify Technology S.A. SPOT marketed offices for sublease this year. 

However, Meta, followed by Google, encouraged employees to resume office instead of remote work.

Price Action: MSFT shares traded lower by 0.12% at $323 premarket on the last check Thursday.

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