Commercial Office

Why Commercial Office?

21.02.2 What to Expect in 2021

20.09.30 –Top 5 Markets for Office Construction Activity

What office exodus?

Amazon announced last week that they are doubling down on their urban office in Bellevue by adding 10,000 more jobs. Taylor Soper of GeekWire reported that Amazon committed to two more million square feet of office space in downtown Bellevue by signing two new leases, in addition to the new staff. Construction on these new buildings is expected to be finished in 2023. Here’s a rendering of one of the new office towers:

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Annie Palmer of CNBC reports on Amazon’s move, noting that this additional staffing increase is in addition to the already planned 15,000 employees Amazon announced last year it was adding to their workforce. Amazon now has 876,000 employees across the globe.

Nicholas Rizzi of Commercial Observer reported on another move by Amazon in NYC last week. “Amazon will open a 2,000-person office at the former Lord & Taylor flagship on Fifth Avenue…[which] is part of Amazon’s plans to spend more than $1.4 billion to create 3,500 new tech and corporate jobs in New York, Dallas, Detroit, Denver, Phoenix and San Diego.”

The Amazon news is intriguing amidst the backdrop of continued work from home and remote work movements from most employers. Using 9 different metrics, the National Association of Realtors (NAR) released last week their top counties with the highest ‘work from home’ score. Factors included the number of broadband providers, type of employment, property value compared to incomes, and much more.

People are starting to work remotely as evident by startups supporting remote workers (REBussiness –WeWork Closes $850M Purchase of Lord & Taylor Building in Manhattan from HBC)

Where are really the Zoom markets:

… under construction, 😁I’m still figuring this out

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