Despite work from home (WFH) protocols for their employees, tech titans are betting they will continue to need more office space in major metropolitan areas.
Amazon Signs $1.4 Billion in New Office Leases in Six Cities
The e-commerce giant announced in a press release that it will expand its “Tech Hubs” in the cities of Dallas, Detroit, Denver, New York, Phoenix and San Diego by 900,000 square feet and create 3,500 new tech and corporate jobs.
Details on Amazon’s expansion plans include:
Manhattan: A new, 630,000-square-foot office in its recently acquired trophy office building 424 Fifth Avenue, which formerly housed the Lord & Taylor flagship store. Amazon plans to house 2,000 new jobs in the property it scooped up from WeWork this past March.
Dallas: Amazon will add more than 100,000 square feet of space at its current Dallas Tech Hub in North Dallas. That office will accommodate 600 new positions.
Detroit: The firm plans to acquire more than 25,000 square feet of office space in the city to accommodate 100 new jobs.
Denver: Amazon will add 20,000 square feet of office space to its existing footprint to support 100 new jobs.
Phoenix: The company will expand its current space at the 100 Mill office tower by 90,000 square feet to accommodate 500 new jobs.
San Diego: The firm will add more than 40,000 square feet of office space to support 200 new jobs.
Facebook Adds Another 730,000 Square Feet of Office Space in Manhattan
Meanwhile, social networking giant Facebook leased all the office space in the James Farley Building in midtown Manhattan, according to Tech Crunch.
With the 730,000 square foot lease, Facebook has acquired more than 2.2 million square feet of office space in the city for thousands of employees in less than a year, all of it on Manhattan’s West Side between Pennsylvania Station and the Hudson River.
Apple, Amazon and Google all lease space in the same area, an emerging tech corridor.