CBRE recently published this report looking at the impact of the “high-tech software/services industry” on the North American office market.
Here are a few highlights:
- Since 2010, tech has created ~1.1 million jobs in the US at an annual growth rate that is 3x the national average.
- Seattle currently has the fastest tech job growth in North America. This is the first time in 7 years that San Francisco hasn’t been at the top of their list.
- Silicon Valley, Toronto, New York, and Los Angeles all added more than 10,000 tech jobs from 2016 to 2017.
- The biggest “momentum markets”, relying on 2016 and 2017 data, are Montreal, St. Louis, and Seattle.
- Over the past two years (Q2-2016 to Q2-2018), Atlanta, Los Angeles, Orange County, Seattle, and Portland have all seen double-digit rent growth.
One figure that also stood out for me was this one here showing the relationship between US venture capital investment and the average asking rent for office space in San Francisco.
If you’d like to download the full report, click here. You’ll need to sign up for an account with CBRE, but it’s free to do that.
I am a big fan of the company Squarespace. They have a great and beautiful product. I use them for globizen.com.
Recently they moved into a new office in Lower Manhattan (98,000 sf), which was a consolidation of 4 distributed offices. The interiors were designed by New York-based A+I.
Not surprisingly, it’s a beautiful space:
New York architecture firm REX is working on a new office building in Washington DC that will incorporate a beautiful fluted glass facade. Here’s a rendering of what it is intended to look like:
CBRE recently published this report looking at the impact of the “high-tech software/services industry” on the North American office market.
Here are a few highlights:
- Since 2010, tech has created ~1.1 million jobs in the US at an annual growth rate that is 3x the national average.
- Seattle currently has the fastest tech job growth in North America. This is the first time in 7 years that San Francisco hasn’t been at the top of their list.
- Silicon Valley, Toronto, New York, and Los Angeles all added more than 10,000 tech jobs from 2016 to 2017.
- The biggest “momentum markets”, relying on 2016 and 2017 data, are Montreal, St. Louis, and Seattle.
- Over the past two years (Q2-2016 to Q2-2018), Atlanta, Los Angeles, Orange County, Seattle, and Portland have all seen double-digit rent growth.
One figure that also stood out for me was this one here showing the relationship between US venture capital investment and the average asking rent for office space in San Francisco.
If you’d like to download the full report, click here. You’ll need to sign up for an account with CBRE, but it’s free to do that.
I am a big fan of the company Squarespace. They have a great and beautiful product. I use them for globizen.com.
Recently they moved into a new office in Lower Manhattan (98,000 sf), which was a consolidation of 4 distributed offices. The interiors were designed by New York-based A+I.
Not surprisingly, it’s a beautiful space:
New York architecture firm REX is working on a new office building in Washington DC that will incorporate a beautiful fluted glass facade. Here’s a rendering of what it is intended to look like:
(Photography by Magda Biernat via Contemporist)
But two other things stood out for me.
One: The amount of informal working/meeting spaces. I really had to look for the conventional office seating.
Two: The ground floor presence and the lobby which doubles as a possible event space.
For consumer-facing companies, I am really attracted to having a street presence and having spaces that can be programmed. It’s a way to engage and plug in to what’s happening beyond the office. Here’s a related example.
I’m not sure if their narrative is the same as mine, but regardless: cool space.
Here’s what that looks like in plan (it’s a GIF that should show typical curtain wall vs. proposed fluted glass):
Here’s a photo of the 1:1 mockup:
And here’s a description from the architect:
The façade’s approximately nine hundred identical, insulated-glass panels—3.2 m tall by 1.5 m wide (11’-6” tall by 5’-0” wide)—are subtly curved to a 2.9 m (9’-6”) radius through a heat roller tempering process. The curve yields structural efficiency, which meets wind load requirements and enables a thinner monolithic outer lite than normal, providing greater transparency.
Because of the curve’s inherent rigidity in compression, only the top and bottom edges of the panels are supported from the floor slabs, while the mullionless vertical edges are flush-glazed for a minimalist aesthetic that improves sight lines, while gaining usable floor area.
They are working in collaboration with Front Inc., which if you haven’t heard of, you should check out. They are a design/engineering consultancy that specializes in facades and building envelopes. They work with many of the big name starchitects. The developer of the project is Tishman Speyer.
It’s worth noting that part of the impetus for the fluted glass facade was to try and innovate within the confines of DC’s draconian zoning – which mandates that no building can be taller than 130 feet. Because of this, developers and architects are usually forced to build out to the allowable area, leaving little room for architectural variation.
But in this case, the fluted glass removed the need for thick mullions and also allowed them to extend out beyond the lot area by 4 inches every 5 feet (the curves are considered “architectural features”). So this move has created both architectural variation and more rentable area.
It doesn’t appear that the building will have any operable windows, but other than that, I think it promises to be quite beautiful. What do you think?
All images from REX.
(Photography by Magda Biernat via Contemporist)
But two other things stood out for me.
One: The amount of informal working/meeting spaces. I really had to look for the conventional office seating.
Two: The ground floor presence and the lobby which doubles as a possible event space.
For consumer-facing companies, I am really attracted to having a street presence and having spaces that can be programmed. It’s a way to engage and plug in to what’s happening beyond the office. Here’s a related example.
I’m not sure if their narrative is the same as mine, but regardless: cool space.
Here’s what that looks like in plan (it’s a GIF that should show typical curtain wall vs. proposed fluted glass):
Here’s a photo of the 1:1 mockup:
And here’s a description from the architect:
The façade’s approximately nine hundred identical, insulated-glass panels—3.2 m tall by 1.5 m wide (11’-6” tall by 5’-0” wide)—are subtly curved to a 2.9 m (9’-6”) radius through a heat roller tempering process. The curve yields structural efficiency, which meets wind load requirements and enables a thinner monolithic outer lite than normal, providing greater transparency.
Because of the curve’s inherent rigidity in compression, only the top and bottom edges of the panels are supported from the floor slabs, while the mullionless vertical edges are flush-glazed for a minimalist aesthetic that improves sight lines, while gaining usable floor area.
They are working in collaboration with Front Inc., which if you haven’t heard of, you should check out. They are a design/engineering consultancy that specializes in facades and building envelopes. They work with many of the big name starchitects. The developer of the project is Tishman Speyer.
It’s worth noting that part of the impetus for the fluted glass facade was to try and innovate within the confines of DC’s draconian zoning – which mandates that no building can be taller than 130 feet. Because of this, developers and architects are usually forced to build out to the allowable area, leaving little room for architectural variation.
But in this case, the fluted glass removed the need for thick mullions and also allowed them to extend out beyond the lot area by 4 inches every 5 feet (the curves are considered “architectural features”). So this move has created both architectural variation and more rentable area.
It doesn’t appear that the building will have any operable windows, but other than that, I think it promises to be quite beautiful. What do you think?
All images from REX.
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