Hiring data across hundreds of firms that received venture capital-backed funding may provide a clue into how those cash infusions will impact CRE, according to a new report from Newmark.
The 500 US firms Newmark analyzed and cross-referenced against LinkedIn data raised a total of $44.9 billion and posted 22,582 job openings since April 2021, translating to about 3.4 million square feet of CRE demand. That's about 7,500 square feet of demand for every $100 million raised, if you assume 150 square feet per worker. If you assume 200 square feet per worker, that equates to 10,000 square feet of demand per $100 million raised.
But Newmark analysts say these numbers are likely "considerably lower than the reality."
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