Now that we’re in the New Normal, what will the office really be like — now that we are all pretty good at running distributed teams?
I wanted data, so I brought the CEO and the new VP of New York for Raise.Work together for a deep-dive on where it’s all going. Raise.Work is a leader in planning, leasing and sourcing tech real estate spaces.
A few learnings:
- The New York tech office space is now at 50% density (vs. SF is at 20% or so). New York is back. Media-focused tech especially more than software, but it’s back.
- San Francisco leasing is on a tear — larger than 2019! But the offices themselves are still vacant. Tech is taking up a ton of space in SF offices, but they haven’t moved back yet. San Francisco is leasing up, but its density remains the lowest in any major U.S. city. Which you can certainly still see and feel.
- Many startups want a hybrid office, even if they don’t always agree on the definition. No one has the same strategy here.
- Big tech is leasing up everything. They’re going back to the office, even if startups aren’t all there quite yet. Facebook taking the largest office even in Austin, and Google leasing up a big chunk of San Francisco.
Much, much more in the convo above.