Last week Google broke apart, and Alphabet was born. One of the reasons for this change was to allow the ever growing offshoots of Google to be able to stand alone and grow as a result of their new independence. Hardly a week later the fruits of that labor are starting to show as Google Fiber has signed a deal with Parkway Properties. Parkway Properties is a real estate company located in Orlando, Florida that began in 1996. Parkway Properties owns and operates properties all along the Southern United States as well as in Arizona out West and Pennsylvania in the North. With assets in the billions, this is a ground shaking deal for Google Fiber.
In this new deal, Google Fiber will service Parkway Properties in the Atlanta, George area as well as Austin, Texas and Charlotte, North Carolina. How many of the Parkway Properties buildings in these areas will receive Google Fiber as this time is unknown. We do know that both Google Fiber and Parkway Properties have spoken out about the partnership in glowing terms. Joel Anderson, Parkway Properties Vice President, and Director of Information Technology has this to say; "The implementation of Google Fiber reinforces Parkway's commitment to offering our customers a state-of-the-art technology platform. At almost 100 times faster than the average Internet speed in the United States, Google Fiber should allow our customers to increase productivity and gain a distinct strategic advantage. We believe that a long-term partnership with Google Fiber will differentiate the Parkway portfolio and further our efforts to maximize value of our best-in-class assets." Lee Bienstock, Google Fiber's Head of National Real Estate Partnerships spoke just as highly about Parkway Properties. He went on to say "Parkway Properties is offering its customers some of the fastest Internet in the world. With this kind of speed, Parkway and Google Fiber are helping businesses focus on what matters most, whether that means taking advantage of the latest technologies, reducing wait times on the web or providing faster services to customers. We're looking forward to working with Parkway to bring gigabit Internet to properties across the country."
One has to think this is precisely why Google decided to break off into separate little companies under one Alphabet umbrella. Who knows if this kind of deal would have ever been possible under the old regime and way of thinking. The one thing that is known though is that this deal could get sweeter in the future. This agreement between Google Fiber and Parkway Properties might be the tip of the iceberg as there is a chance this could extend to other Parkway Properties if and when Google Fiber gets to their city. A week already in and Alphabet and Google Fiber are off and running.