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Chicago just had announced 2,000 new enginnering jobs from Uber Freight earlier this week in a new 463,000sf lease.
Been a lot of west coast or just tech expansion here lately:
Salesforce opening large office with 500,000sf leased in new signature tower to be built
Google expands with new 500,000 developments
Facebook expands with new 200,000sf lease
Glassdoor expanding with 500 jew jobs
The "hot" new building here has been the renovation of the Old Main Post Office which sat vacant for 25 years now. A development team is spending hundreds of millions to renovate it for office at 100% spec which people thought was a huge risk. So far of the 2,500,000sf of space for lease in the massive building they have:
Negotiating:
CBOE: 175,000
Cisco Systems: 130,000
Federal Home Loan: 125,000
For a building that was purely spec and isn't even done with construction yet on the complete fringes of downtown it's great to see all these leases and nearly 1,600,000sf being eaten up right away.
In addition, Molson Coors Brewing announced that it is leaving Denver and relocating its HQ to Chicago, eliminating 300 corporate positions in Denver.
Why does LA only seem to get relocations out of the region vs into? Very few large homegrown companies as well. For the nations 2nd largest metro area it seems to have a poor corporate job base
Why does LA only seem to get relocations out of the region vs into? Very few large homegrown companies as well. For the nations 2nd largest metro area it seems to have a poor corporate job base
Very few companies relocate their HQs to the West Coast in general (the interior West does a much better job there). But you're right about the lack of big homegrown companies, especially compared to the Bay Area and Seattle.
LA is actually a lot more blue-collar (the port, manufacturing, warehousing, logistics) than folks realize. Outside of that you've got the entertainment industry, tourism, higher ed, and healthcare contributing significantly to the region's economy. But there's not as much finance or tech as one might expect relative to its size.
Very few companies relocate their HQs to the West Coast in general (the interior West does a much better job there). But you're right about the lack of big homegrown companies, especially compared to the Bay Area and Seattle.
LA is actually a lot more blue-collar (the port, manufacturing, warehousing, logistics) than folks realize. Outside of that you've got the entertainment industry, tourism, higher ed, and healthcare contributing significantly to the region's economy. But there's not as much finance or tech as one might expect relative to its size.
LA does okay with tech expansions coming from the Bay. Netflix, Hulu, Youtube, Facebook, etc., all have huge operations in LA. Google just leased over 600,000 for a redevelopment at Westside Pavilions (so the entire office space available for the development). Snapchat of course has its base here. Many others too, and LA doesn't do bad with VC funding either. The universities in LA are all moving up in rankings which will help with innovation for the region.
I won't be too worried about LA. It may not have the headquarters for these companies but it is still a heavy weight based on what it does have, and that tech is the biggest on the West Coast.
LA does okay with tech expansions coming from the Bay. Netflix, Hulu, Youtube, Facebook, etc., all have huge operations in LA. Google just leased over 600,000 for a redevelopment at Westside Pavilions (so the entire office space available for the development). Snapchat of course has its base here. Many others too, and LA doesn't do bad with VC funding either. The universities in LA are all moving up in rankings which will help with innovation for the region.
I won't be too worried about LA. It may not have the headquarters for these companies but it is still a heavy weight based on what it does have, and that tech is the biggest on the West Coast.
This is true. There's a reciprocal relationship between LA and the Bay Area when it comes to their two signature industries in particular, entertainment and tech respectively, as tech continues to disrupt more traditional industries and drives them to innovate while still having a need to utilize their infrastructure in order to grow. Also LA is a very logical and practical place for early growth and expansion of the tech giants outside of the Bay Area due to sheer size and proximity.
07. SignEasy has announced that it is relocating its corporate headquarters from the Greater San Francisco Bay Area to Greater Dallas/Fort Worth Metroplex:
08. ESal has announced that it has selected the Greater Dallas/Fort Worth Metroplex as the location of its corporate headquarters (previously did not have a formal headquarters but maintained "regional offices" in Texas and Wyoming):
14. Andrew Levy announced a year ago that he is launching a brand new commercial airline company in 2020 which will be based in Greater Houston. Currently the placeholder name of the airline is Houston Air Holdings, temporarily, until Levy decides on an official name for the new airlines before it officially launches. He's currently in the process of buying or leasing new Boeing 737-800 series planes for this new airline. The airline will be headquartered in Greater Houston and its main operating hub will also be Houston:
20. Oncocyte Corporation has announced that it is relocating its corporate headquarters from the Greater San Francisco Bay Area to Greater Los Angeles:
23. XOJet Aviation has announced that it is relocating its corporate headquarters from the Greater San Francisco Bay Area to the Greater Miami/Fort Lauderdale Area:
24. Misfits Gaming Group has announced that it is relocating its corporate headquarters from Greater Los Angeles (and Berlin, Germany; dual headquarters) to Greater Miami/Fort Lauderdale:
28. South State Bank has announced that it is relocating its corporate headquarters from Greater Columbia (S.C.) to Greater Orlando, following its merger with CenterState Bank:
31. Raytheon Missiles & Defense has announced that it has selected Greater Tucson as the location of its departmental headquarters (Raytheon's overall headquarters will remain in MA):
32. Raytheon Intelligence & Space has announced that it has selected Greater Washington D.C. as the location of its departmental headquarters (Raytheon's overall headquarters will remain in MA):
* There were two companies with the word "Spruce" in their names that either moved or created a new headquarters. These two companies ARE NOT related to each other in any manner. Just a mere coincidence.
* Raytheon, after its merger with United Technologies has decided to create two new internal departments with Tucson, Arizona and Arlington, Virginia (Washington D.C.) serving as the headquarters location of those two departments.
WeWork has operated with a dual-headquarters system since its inception with New York and San Francisco serving as the respective locations for its dual-headquarter system. However, now WeWork is dissolving the second headquarters in San Francisco as it moves out of Salesforce Tower and into a smaller office in the city as part of its corporate restructuring plan:
As I previously reported in this thread, David Neeleman has created a new commercial airline company that he is both headquartering in Greater Salt Lake City and basing its flight operations out of Salt Lake City International Airport. The airline company previously did not have an official name, now it does, welcome Breeze Airways as one of the two newest commercial airliners in the United States:
Finally, Fortune 500 paint company Sherwin-Williams, which was scouting locations across the United States for a brand new headquarters has decided to build its new headquarters facility in its current hometown of Cleveland, Ohio and thus ending speculation of a headquarter relocation. In addition, it will also construct an R&D center nearby in Ohio too:
I hope the new Houston airline is successful. It will obviously be a low-cost carrier for the foreseeable future but it'd be great to see Houston have an airline headquarters (it used to have two). Can they bring back the Lone Star Airlines name?
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