CHICAGO | Economic & Business Development

[MayorOfChicago]

http://www.chicagotribune.com/busine...601-story.html

Tech behemoths Facebook, Google planning big Chicago office expansions

Facebook and Google are mapping big expansions in Chicago, where real estate searches by two of the nation’s other technology giants have been the center of attention.

Menlo Park, Calif.-based Facebook is negotiating to lease more than 200,000 square feet in a recently constructed office tower at 151 N. Franklin St. in the Loop, according to sources.

Meanwhile, sources said, Google plans to add more than 100,000 square feet of office space in the city’s Fulton Market district, where the company already has a large Midwest headquarters.

this is welcome news.

[Vlajos]

Originally Posted by MayorOfChicago

http://www.chicagotribune.com/busine...601-story.html





this is welcome news.

Not bad! Now if the rumor of Salesforce looking for 500K SF of office in Chicago comes true, this all will be very good news.

[emathias]

So I've seen ranges of 100 to 200 square feet per tech employee as the "rule of thumb" for square feet to employee ratios, which means Google plans to add 1,000 to 2,000 employees and Facebook 500 to 1,000 new employees. Add to that employees at supportive third-party businesses, and that's probably easily in the 2,000 to 5,000 range for new Central Area jobs extrapolated from those announcements. Add in "significant others," and we're talking nearly a whole year's worth of residential inventory expansion if they all resided in the Central Area (of course not all will, though). Pretty cool!