Technology
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Most of those IT platform companies only rent their premises as it helps improve the balance sheet and quarterly results by moving "capital expenses" into "operational costs"
I believe part of it is that managing huge buildings is actually a pain in the ass and requires specialized experience to do efficiently, so many companies end up saving money by not owning their buildings.
Well that, and the fact it costs huge amounts of money to own land in cities.
Does it not cost even more to rent?
I have no idea. But good luck finding unclaimed land with or without a giant office building on it in the middle of a major city. Adding the cost of land and construction and all the taxes that come with it plus the time needed to build everything?