Google is set to be one of the largest tenants in this city
Kaltbaum Capital Management Gary Kaltbaum, Capitalist Pig founder Jonathan Hoenig, Barron's Senior Editor Jack Hough, 'Bulls & Bears' host David Asman, and Fox News columnist Liz Peek discuss the criticism Google is facing over a video leak.
Google is set to become one of the largest tenants in downtown Chicago following plans to expand its Fulton Market district office by more than double its current size in a move to make room for thousands of new employees in a city quickly becoming the new Midwest ‘Silicon Valley.’
The Chicago Tribune reports that the Mountain View, Ca.-based tech giant is looking to create an urban campus for Google employees, and are currently in the process of finalizing deals to rent about 800,000 square feet in two buildings, which are currently being planned by real estate developer Sterling Bay.
GOVERNMENT LAUNCHES PROBE OF GOOGLE
Should Google’s expansion deal in Chicago go as planned, the company would increase its space by about 1.3 million square feet during the next couple of years, making it one of the largest tenants in the city’s downtown and in what used to be Chicago’s meatpacking and food wholesaling district, according to the Tribune.
Google spokeswoman Kayla Conti told the Tribune that the tech firm currently has over 1,200 employees in its Chicago offices alone, with other locations spanning across the globe.
GOOGLE APPOINTS ITS FIRST CHIEF HEALTH OFFICER
“Our growth has been fairly organic over the years and we’re growing based on the needs of the business,” Google spokeswoman Kayla Conti told the Tribune.
Courtesy of Google
Google opened up its Fulton Market offices in 2015 after moving from its former Near North Side location four years ago, where it now leases around 500,000 square feet, 372,000 square feet of which at 1000 W. Fulton Market and then another 132,000 square feet in a 12-story building just a short walk south at 210 N. Carpenter St in October, according to the Tribune.
GOOGLE EMPLOYEES PRESSURING COMPANY
Since moving to the neighborhood, Google has made Fulton Market an up-and-coming office market space, with McDonald’s opening up its headquarters last year, and new hotels, apartment high-rises, and retail stores popping up as well, The Tribune reported.
Both of the proposed Google building expansions, an 11-story building at 345 N. Morgan St. and an 18-story structure at 1000 W. Carroll Ave, will be mere feet away from the company’s 1L Fulton building, which happens to be Google’s Midwest headquarters, the Tribune reported.
Google’s expanding presence has made the Windy City a new tech hub for startups and established players alike, with Uber, Salesforce, Facebook and Glassdoor all opening up offices in Chicago in recent years.