The first quarter brought several new significant tech subleases to market, including more than 100,000 square feet each from Salesforce and Meta, while other large tech subleases have remained on the market for some time. Meanwhile, Chicago's tech economy has been boosted by continued growth in logistics tech, with firms including Spot, E80 Group, and TransLoop recently taking space downtown.
Savills Pulse & Perspectives: World Research
While the global tech sector is undergoing a period of consolidation and ‘rightsizing’ in some organizations, in the long-term, tech as an occupier group isn’t going anywhere. Savills Tech Cities identifies the global cities that matter most to tech. Sixteen North American cities are included in Savills overall top 30 ranking with San Francisco, New York and Silicon Valley leading as the top three. While big cities dominate, tech specialisms such as AI, ClimateTech and DeepTech are growing quickly in secondary global markets.
- Paul Tostevin
Director, Savills World Research