Apple, Amazon, Google and other top tech giants in the mobile technology space are leading America’s comeback on office space and retail development.
A new report says companies like Apple are most responsible for the bounce back of U.S. office development after a recent lengthy nosedive.
“There is a surprising amount of construction, given the amount of space available in the market,” says Jon Southard, managing director of CBRE Econometric Advisors. “Even the gradual improvement in demand we see going forward means construction is going to increase from here rather than decrease.”
For example, Apple’s 700,000-square-foot data center being constructed in Prineville, Oregon is one of the massive projects contributing to the turnaround. At that particular location, Apple will erect two 338,000-square-foot buildings.
In addition to the thousands of employees who will eventually fill these buildings, thousands more will gain employment from their ongoing construction over the next 18-24 months.