This is kind of amazing to think about:
A couple of days ago it was announced that AppFolio sold one of its three office buildings in Goleta, CA. The building was sold for $13.9 Million.
When I was working at AppFolio in 2018-2019 they could not get enough space.
They were doing huge remodels to be able to cram more desks in and even bought a nearby building and started a multi-year renovation on it.
There was even time set aside during the company all-hands meeting every month for the manager of facilities to give updates about what was happening with buildings, parking, etc.
Ever since Covid, many AppFolio employees have been working from home. Lots of employees have moved away. And the ones that have stayed in the area work from home— even ones that live very close.
This goes to show you that Covid was a big catalyst for a sustained trend towards work from home. AppFolio would not be selling this building if they were planning on forcing people back into the office.
Work from home is the new normal. It's here to stay. At least for AppFolio.