It's difficult to imagine how companies would have maintained productivity during the COVID-19 pandemic without the tech sector.
"Some of the tech sectors that rose in importance were e-commerce and logistics, streaming and cloud services, search and social media, devices and communications, and data and cybersecurity," according to a new report, Tech 30, from CBRE.
Still, when COVID hit, many tech companies put plans on hold and tightened their belts, according to CBRE. Overall, the sector shed 58,000 jobs in 2020 after creating 1.5 million since 2010 and accounting for one of every four new jobs requiring office space. As a result, the tech industry's share of the office market inched down from 21% to 20%.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
