In what may be a sign of things to come, Inc. magazine is leaving its plush Greenwich Street digs in Manhattan (which includes one of the best views on the island), and hitting the virtual road – at least for the foreseeable future.
In what the magazine is promoting as “a little experiment” to see if an established business can become a virtual office, Mansueto Ventures (parent company to Inc. and Fast Company) is kicking its Inc. staffers to home or nearby hotels.
One wonders if the move is really “a little experiment” to see if a virtual news room can work; with an eye towards ridding themselves of what must be very expensive property in Wall Street. However, there is no word of Fast Company staffers making the move as well (they share the space).
Mansueto isn’t the only media owner conscious of high-figure “space” costs, which can no longer be offset by media revenues. Steve Forbes just unloaded Forbes iconic 5th street offices to NYU and the New York Times has been executing on sales-leaseback plans with its new New York Times building.
Although it puts a damper on desk side chats and media tours, fans of the Inc. (like myself) should root for the experiment to succeed. If they can’t make it outside New York, they can’t make it anywhere.