An important indicator that affects our housing market is the growth mode that the Bay Area is going through. This article states that the hiring boom is rippling throughout the Bay Area.
http://www.mercurynews.com/ci_17702968?IADID=Search-www.mercurynews.com-www.mercurynews.com
Federal Express is close to signing a deal to lease 17 acres in Long Island City. They’ll be building a 500,000,000 square foot new distribution center for the greater New York region.
Keep an eye out for Operations and Project Management jobs. You can find openings here; we see over 120 jobs currently listed for New York on the FedEx website.
Source: Crain’s New York
Wells Fargo got bumped out of tony Park Avenue office space when Bloomberg LP (the company not the mayor) signed a lease for 120,000 more square space than Wells Fargo wanted. Apparently, it’s getting more difficult to find 250,000 square feet blocks of office space in Manhattan.
Why you should care? It’s a sign the economy is improving. And following the real estate trail of companies who are renting more office space is a great way to find leads about companies and organizations who are expanding their staff. (By the way, Bloomberg’s got over 500 positions listed in New York, Wells Fargo has just over 175 by our count. So, in this case—the real estate size correlates slightly with the hiring demand.)
Source: Crain’s
