Raleigh Commercial Real Estate Report for July 2018 – Apple and Amazon HQ2 Could Bring Almost 50K Jobs to the Triangle further strengthening an already robust Raleigh commercial real estate market
Raleigh, United States – August 1, 2018 /PressCable/ —
Raleigh Commercial Real Estate Report for July 2018 by Bob Walton with ROI Commercial Realty – Apple and Amazon HQ2 Could Bring Almost 50K Jobs to the Triangle.
With these two tech giants seeking new hubs, very possibly in the Triangle region, the Raleigh commercial real estate market could hit the stratosphere since the current commercial real estate market is already on fire.
Technology companies like Amazon and Apple have made fortunes with the collective brain power at work in their companies. Both are leaders in the technology sector for their innovations and products which have gained massive international popularity.
So it makes perfect sense, then, when these tech titans start looking for places in which to invest in a second major headquarters, they will want to find a location where there is a plethora of brain power and intellect to access and use. And when one thinks brain power, is there a higher concentration of this anywhere but in the Research Triangle – also aptly named the “Silicon Valley of the East”?
The Triangle has three very well-known universities, all with international acclaim for their production of quality alumni, plus the school systems and community colleges in the area have rigorous curricula that challenges students – and when it comes to a company like Amazon, which has said it was looking at a 15-year rollout of its headquarters, then having quality education in the middle- and high-school levels is just as important for producing quality Amazon-level employees as the junior- and senior-college education for the shorter-term workers.
When it comes to these major companies, they not only bring good-paying jobs to the area where they build, but they provide a multiplier to the economy as a whole, and much of this would be reflected in the Raleigh commercial real estate market.
Let’s face it – a company like Amazon or Apple would be a huge draw for businesses, including those which might have great synergy with these companies as startups, suppliers, vendors or logistics companies. Raleigh commercial real estate in and around the Research Triangle area is already trending upward as evidenced by these charts published by LoopNet. Prices are up as the inventory in commercial and office space is decreasing – and the Raleigh/Durham residential rental market is equally strong.
What this means is that the Research Triangle is already a prime market for commercial real estate, even before a decision has been made about Apple or Amazon building a second headquarters in the area. The commercial real estate market is already setting records; what is possible if a big-time tech company like Amazon or Apple locates in the area?
With Amazon proposing to invest $5 billion and hire up to 50,000 people for the new headquarters, clearly there is a desire to make the investment sound by getting maximum bang for the buck. In this case, why not be in the Triangle and have access to several respected universities as well as many alumni who have achieved in their chosen fields along with the most affordable housing market of all HQ2 sites left for consideration?
One of the draws for a company like Amazon or Apple is being in an area that is already vibrant and growing – neither company would want to be what “rescues” a community in its economic-development efforts. And there is little doubt that Apple and Amazon are definitely aware of the positive momentum in the Wake County real-estate market, and it would be hard for either company to resist getting involved.
Innovation drives growth, especially in technology. In the case of Wake County, the reverse can be true – economic growth that spur more innovation and development in the real-estate market, and make the area all the more appealing to an innovative tech company like Apple or Amazon.
A new headquarters is heady stuff for a company like Amazon, and it has to trust that the headquarters will be a center of innovation and constant development and improvement … as well as curiosity about what can be possible for a company which appears to have everything. Innovation means research, and research means the Triangle. If for no other reason, Amazon can find a great fit by developing a new innovation hub right in the heart of the Research Triangle. It would be an investment well worth the price of admission.
So in this edition of the Raleigh Commercial Real Estate Report, we leave you with the thought that if two of the largest multinational companies in the world are strongly considering calling the Triangle home for their new headquarters, why wouldn’t you? If you want expert guidance navigating the Raleigh and Research Triangle commercial real estate opportunities, give commercial real estate veteran, Bob Walton with ROI Commercial Realty, a call at (919) 827-1836.
Name: Bob Walton
Organization: ROI Commercial Realty
Address: 4700 Homewood Ct #200-ROI, Raleigh, NC 27609, United States
For more information, please visit https://www.roicommercialrealty.com/
Release ID: 387799
Photo Credit: William Marnoch