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openai rents its first office in new york, and the ai ​​industry is expected to revitalize the local office market

2024-10-05

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it house news on october 5, beijing time today, according to the wall street journal, openai is leasing its first office in new york city, which makes property owners full of expectations for the growth in demand for office space in the ai ​​industry. according to people familiar with the matter, the artificial intelligence company reached an agreement this month with the landmark puck building in manhattan's soho district to lease 90,000 square feet (it home note: approximately 8,361.27 square meters) of space.

in september, openai leased an entire six-story office building in san francisco's mission bay district, the city's largest office leasing transaction this year. last year, openai also subleased two buildings in san francisco from uber. the company is expected to announce additional office openings soon.

at the same time, ai companies such as anthropic and palantir are also rapidly expanding their office space needs in new york, the san francisco bay area, denver, atlanta, and seattle.

according to reports, after experiencing a painful period of high vacancy rates, rent reductions and asset fire sales, the office market is beginning to show signs of recovery, with leasing activity in cities such as new york picking up in the third quarter. the rapid development of the technology industry, especially the rise of the ai ​​field, has brought new demands to many large technology companies after they reduced their office space this year.

san francisco is one of the cities hardest hit by remote working, but leasing demand from the artificial intelligence industry is particularly strong here. according to jll (jones lang lasalle) data, ai companies have leased approximately 5 million square feet (approximately 464,500 square meters) of office space in the city, accounting for more than 5% of the total office area.