Big Tech firms led office leasing in 2020

Big Tech keeps getting bigger, and the office footprint of the companies in the sector is keeping pace. Tech firms leased more office space than any other industry last year, according to CBRE’s latest TechInsights report. In total, the tech sector took about 26 million square feet in 2020, which accounted for 17 percent of total office leases. Tech has dominated as the top sector for office leasing since 2013, according to the report. Still,

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NYC’s 10 most valuable office leases of 2020

 The pandemic has drastically slowed Manhattan leasing since March, curbing not only the number of deals, but also their dollar value. The Real Deal ranked Manhattan office leases signed in 2020 by the amount of rent scheduled to be paid over the life of the deal. The sum of the top 10 was $3.12 billion, down about 60 percent from the 2019 sum, $7.85 billion. The drop was reflected in the lack of mega deals.

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Facebook will invest $150M to build affordable housing in Bay Area

Facebook plans to invest $150 million to build 2,000 homes for low-income residents in the San Francisco Bay Area. The Silicon Valley-based social media giant said Wednesday the money would support the development of affordable homes for families making less than 30 percent of the region’s median income. The funds will be available to local governments and nonprofit groups in the form of low-interest loans. Projects in San Francisco, Santa Clara, San Mateo, Alameda, and

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