Tech Companies Flock to New York City
A recent report based off of data from real estate firm CBRE shows that New York City has been a leading destination for expanding Bay Area tech companies. In the past 5 years, 3.4 million square feet of New York office space has been purchased by tech companies such as Google, Spotify, and Facebook. To put this into perspective, the only competing city is Seattle at 3.5 million square feet of office space used by tech companies, while Southern California is in third with only 2.2 million square feet.
These companies continuously compete with each other to have the most desirable workspaces and cultures. They do so by expanding to nicer and newer offices. For example, last year Spotify secured a massive lease in the new 4 World Trade Center building; they will occupy floors 62-72 and add 1,000 new jobs. Expansions like this continue to drive tech-driven individuals to what was once strictly a finance town and establish New York City as a worldwide tech hub.
Written by Dominick Ronan, Edited by Jack Vasquez & Alexander Fleiss
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