Isn't that We's end goal though? To get billion dollar companies like Microsoft, Stripe, etc. as tenants. People that don't really want to deal with running an entire building when they can just pay someone else to do it.
Counterpoint: Google now outrights owns a absurd amount of buildings outright on Manhattan's West Side near SoHo.
These big companies have so much money, that they stand to make even more money just holding the damn real estate for all they care if they end up not using it.
It's the same as a individuals buy vs. rent scenario for a house. Sure, rent may be cheaper, but there are long term pros just holding the property yourself if you can afford it.
Which makes sense If you run your own investments / pensions your going to want to have some commercial property investments (normally by having a certain % in funds / REITS)
No. Companies that big have the resources and stability do it themselves, and want control over their space as well. They have no need for a middleman other than real-estate brokers or construction companies to actually get the space.