Feb. 18, 2019
Google’s commercial real estate expansion continues, with plans to invest an additional $13 billion in data centers and offices throughout the U.S. in 2019, according to Globe Street.
While the tech giant has been a force in many real estate markets across the country, this announcement carries significant impact across many markets. Here’s a breakdown of the economic benefits to the various markets. Google will be:
- Adding tens of thousands of new employees
- Generating 10,000+ construction jobs
- Moving Wisconsin operations to a larger office
- Doubling the Virginia workforce
- Adding offices in Georgia, Texas, the Boston area, Los Angeles, and Washington state, among others
This comes on top of Google’s previously announced 1.7 MSF Hudson Square office expansion in lower Manhattan.
A Look at Google’s Real Estate Needs
While much of this activity involves moving into newly built or existing space, there also are redevelopment plans in the works, according to Bisnow. The company’s footprint in New York City, for example, is mainly repurposed manufacturing space on Manhattan’s West Side, which included its $2.4 billion purchase of Chelsea Market last year.
And, a big shift involves Google’s expansion in the data center sector, with centers planned in Nevada, Texas, Nebraska and Ohio. Here’s a quick rundown by region: