As tech firms look to tap into young, creative talent, the CBD continues to be best place to compete for potential employees.
CBRE’s Tech Thirty 2015 report shows that the tech market has expanded from 6 percent of all tenants in the CBD in 2012 to now 8 percent, growing from 4.4 to 6.7 million square feet in that time frame.
This activity represents a 54 percent growth rate and confirms that the tech industry is now one of Chicago’s leading drivers of employment and office occupancy, vaulting into the top three industries for leasing activity since 2012.
“Legal and financial services have long dominated the Chicago market, but these industries are revamping workspace to accommodate for more people in a smaller footprint,” said Cal Wessman, executive vice president at CBRE. “Tech firms have been the real driver of real estate expansions, adding employees at a rapid pace, with many larger firms growing as much as 30 percent in the last three years.”
To read the full Tech Thirty report, download it here.