June 20, 2018
San Francisco Bay Area-based technology firms have significantly grown their presence across the U.S. over the past five years. In the 10 markets they’ve largely targeted outside their headquarters region, these tech firms leased 18 million square feet of office space. Access to innovative tech talent was the primary reason for many of these expansions, as tight labor market conditions for highly skilled individuals necessitate a more geographically distributed workforce. The largest expansion markets for Bay Area-based tech firms over the past five years are Seattle (3.5 MSF), New York (3.4 MSF) and Southern California (2.2 MSF).