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The Real Deal Los Angeles

Office giant Blackstone offering craft beer, baristas with its cubicles

Nation’s largest office owner just acquired majority stake in 13-building NYC portfolio
January 05, 2018 02:30PM

(Credit: Wikimedia Commons, Pixabay)

Some suds with that spreadsheet?

Office giant Blackstone is now offering free craft beer, coffee bars with well-trained baristas, arcade games and private clubs to its tenants as a way to lure more business, Bloomberg reported. The nation’s largest office owner, as well as fellow corporate giant Brookfield, can afford to add millennial-friendly amenities like 700 free coffees a day because of their large scale.

Changing consumer preferences, with employees having less square footage, have also allowed big office owners to better use their leftover space for trendy common areas, open floor plans and even gyms.

Blackstone just paid Harvard Management Company roughly $243.6 million to acquire a majority stake in a 13-building portfolio in New York City.

That’s in addition to the offices it already owns in Los Angeles, including Pinnacle 1 and Pinnacle 2 in Burbank, as well as a hefty industrial portfolio. [Bloomberg] — Natalie Hoberman