Amazon has announced plans to open or significantly expand six tech hubs in Dallas, Detroit, Denver, Manhattan, Phoenix, and San Diego. The investment for the e-commerce giant will total more than $1.4 billion and will create 3,500 new tech and corporate jobs.
Perhaps the most notable expansion will be in Manhattan, where Amazon has acquired the Lord & Taylor Fifth Avenue building. Citing unnamed sources, the Wall Street Journal reports that Amazon purchased the building from WeWork, for more than $1 billion.
The company plans to open a new 630,000 square foot office there.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
