Apple Boosting U.S. Office Development
The world's most profitable company is making huge waves with every move. In concert with other tech giants on the scene today, expansion by technology companies in the office space is helping U.S. office development nationwide bounce back from a recent - and massive - 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.”
In particular, Apple's ambitious office and retail expansion is fueling this so-called rebound. A specific example cited in a new Bloomberg report is Apple's 700,000-square-foot data center now undergoing construction in Prineville, Oregon. At that location, Apple will build two 338,000-square-foot buildings.
Hundreds of Apple employees will eventually work inside of the facilities being constructed with the help of thousands of people nationwide - people who have been able to find and retain employment in response to companies like Apple and Amazon building new facilities at such a quick pace.