Amazon's Recent Real Estate Moves
Seattle news outlets have been in a-buzz with rumors ever since Amazon announced they were searching for a new headquarters. Many experts and even Amazon employees continue to reassure locals that, while they may be searching elsewhere, their heart (and original headquarters) will stay here in town.
Even more reassuring are other recent headlines stating Amazon's recent lease on a brand new downtown office tower; as well as the breaking news story about their plans to move into the downtown Macy's building. This lease will cover six floors of office space and is planning to move in next year. With these two announcements, "Amazon has committed to approximately 1.2 million square feet of new office space in Seattle." These new spaces also show Amazon's willingness to venture out of it's South Lake Union neighborhood. (Or perhaps it's just that there is no more space available in their top choice hotspots.)
A confirmation from Amazon Worldwide Consumer CEO Jeff Wilke ensured that 6,000 more jobs are coming to the Seattle job market. Currently, the tech giant employs 50,000 in Seattle and will plan to eventually hire up to the same amount at their second, still undisclosed, headquarters. With many cities pulling various stunts to try and lure Bezos and his team, there has also been recent news about an expansion to New York City.
The Big Apple will welcome 1,800 Amazon employees in a 360,000 square foot office space in Manhattan by mid-2018. "It will be the home base for Amazon Advertising, with teams focused on marketing, product, design, engineering and more." Not to mention it will also host people working on the Amazon Web Services and Amazon Fashion teams. With all this expansion outside the state of Washington it is easy to see why many economists and real estate professionals here in Amazon's hometown may get a bit worried about the potential impact here on our local job market. However, it seems as though the company is still investing just as much love into their hometown community. So, stay calm and carry on Seattle... Amazon is moving up, not moving out.