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Demand for Office Space Remains High

Demand for Office Space Remains High

Despite most of its employees working from home due to the COVID-19 pandemic last year, Microsoft purchased office space throughout the US and expanded in its hometown of Redmond, WA. Many wondered how relevant office space would be with so many businesses quickly shifting to working from home, but Microsoft is proving that the demand for office space remains strong.

Growth Throughout the Country

Microsoft is renovating its Redmond campus, developing an East Coast hub in Atlanta, expanding in Hillsboro, Oregon, and is reported to be looked at office space in Miami. Demand for Microsoft services such as Teams, has grown significantly during the pandemic and Microsoft projected in late 2020 that jobs in the tech industry will likely increase from 41MM in 2020 to 190MM in 2025. Additionally, after working from home for over a year, people are excited to get back into the office for human interaction which was greatly lacking due to the pandemic.

Tech Giants Continue to Expand

Microsoft isn’t the only tech giant expanding its office presence, with Google confirmed to buy nearly 10 acres in Kirkland, Facebook purchasing REI’s Bellevue campus in September of 2020, and Amazon planning to bring 25,000 more workers to Bellevue, as well as expanding to Dallas, Detroit, New York City, Phoenix, and San Diego.

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https://www.bizjournals.com/seattle/news/2021/04/26/microsoft-is-doubling-down-on-office-space.html?utm_source=st&utm_medium=en&utm_campaign=me&utm_content=ps&ana=e_ps_me&j=23916428&senddate=2021-05-21

 

TAGS: Real Estate Education