GOJA’s Post

Amazon reportedly looking for 50,000sq FT of office space in Miami! This news is exciting for our region, but not for many of the obvious reasons. For many of us who have been working on supporting and accelerating South Florida’s innovation economy, we would recall that in 2017 our region competed in the Amazon HQ2 process. The yeoman’s effort of the late Michael Finney of the Miami-Dade Beacon Council and work of folks like James Kohnstamm, CEcD went a far way to pull our regional stakeholders together in what was called Project Golden. Although we didn’t win the HQ2 process, something even better happened. ⬇️ Our academic, governmental, business, and civic sectors leaned in to deepen our regional collaboration. The alignment of our stakeholders in many regards created the pre-conditions for what has now been Miami’s remarkable trajectory from 2017-2023. The truth is, Amazon is already a deeply engaged economic driver in our region on multiple levels whether it is through distribution centers, the engagement of Amazon Web Services (AWS) in supporting cloud infrastructure, philanthropy, and so much more. Kudos to folks like Angelica Santibanez & Cristal J. Cole for their intentionality in much of this. Regions that win in the long term are ones that focus on driving outcomes and opportunities for residents first — embracing the hard truths along the way and tackling challenges head on. (affordability, climate, income disparities). https://lnkd.in/esVqF7iY Nancy Dahlberg Madeline Pumariega Melissa Medina Rodrick Miller Alfred Sanchez Francesca de Quesada Covey Tadd Schwartz Nitin Motwani Ashley Portero Rudy Fernandez Kylie Wang Kevin Ruiz Maria C. Alonso, NACD.DC Andrew S. Duffell, MBA John Wensveen, Ph.D. Bob Swindell Marlon Hill Caryn Lavernia Luis Andre Gazitua Jefferson Noël Michael Sarasti Lab22c

Exciting News: Amazon Eyes Miami for Expansion 🌐🌴 Recent reports from Bloomberg indicate that Amazon is on the lookout for approximately 50,000 square feet of office space in Miami. This move aligns with Executive Chairman Jeff Bezos's announcement of his plans to relocate from Seattle to the vibrant city of Miami. The decision to establish a significant office presence underscores Amazon's commitment to expanding its footprint and tapping into Miami's dynamic business environment. A spokesperson from Amazon has confirmed the search for office space, emphasizing that this initiative began prior to Bezos's public declaration of his move to Florida. Miami, known for its strategic location, diverse talent pool, and thriving tech ecosystem, seems to be an appealing choice for Amazon's expansion plans. As the company explores opportunities in the Magic City, it brings with it the promise of job creation, economic growth, and a strengthened presence in the sunshine state. 🚀 #AmazonInMiami #BusinessExpansion #MiamiTechHub #miami #expansion #inversiones #dolarizate #colombia #mexico #chile #peru #globalizacion #elfuturoesahora #techcommunity #empresas #comercio #oportunidades

An Amazon spokesperson confirmed that the e-commerce giant is looking for space and said it started the search before Bezos’s announcement that he was relocating to Florida. As Miami has increasingly become a destination for the ultra-wealthy and their companies, demand for offices has boomed. A slew of financial and technology firms have moved to the area or expanded existing footprints, including Ken Griffin’s Citadel, Microsoft Corp. and private equity firm Thoma Bravo. Office availability is now below pre-pandemic levels in 2019, according to third-quarter data from brokerage CBRE Group Inc. The “unprecedented” demand means there will likely be little top-quality office space in the city lingering on the market, CBRE said. It’s also led landlords to raise rents. Additional Fortube article: “Jeff Bezos is moving from Seattle to Miami—and he could take some of Amazon with him”. https://lnkd.in/g75AEJKU #miamiexpansion #premiumfunding #lifeinsurance

In a strategic shake-up, Amazon, the tech titan synonymous with sprawling and amenity-rich offices, has announced plans to drastically reduce its office footprint. Amazon saw the numbers - a whopping 1.3 Billion annual savings goes right to the bottom line. To execute on this plan, Amazon is letting go of leases, terminating agreements prematurely and curtailing the use of certain floors. The plan is to eliminate 25% of the portfolio now plus another 10% +/- over the next 3-5 years. When they see the benefit of Lean RE, likely more space will fall out. Like Amazon, most organizations find themselves burdened by 25%- 50% more office space than they need. Lean RE, this may catch on like Lean Manufacturing.

If only they had the leadership skill to recognize this obvious benefit before reducing their employee trust to naught but ash and cinders. This is not a sign of strong leadership. It's a sign of poor leadership.

Google’s Latest Sublease Move Shows Global Tech Giant Isn’t Done Shedding Real Estate Alphabet Subsidiary Lists Two Silicon Valley Offices in Extension of Widespread Cuts to Space, Workforce - Alphabet, Google's parent company, is continuing its trend of shedding real estate, with a recent move to sublease two Silicon Valley office buildings in San Jose.    - The listed properties, totaling nearly 174,000 square feet, mark another step in Google's ongoing effort to reduce its real estate footprint. - Google originally leased these properties in late 2015, but now seeks to offload them as part of its broader real estate restructuring. - The tech giant's reduction in real estate holdings aligns with its focus on profitable growth and high-priority initiatives like artificial intelligence. - Last year, Google incurred over $1.8 billion in expenses related to restructuring, including significant layoffs and office closures. - The company also spent more than $2.1 billion in severance and other charges associated with reducing its workforce, resulting in a notable decline in its employee count. - Google's approach mirrors that of other Silicon Valley tech companies, which have similarly cut back on real estate holdings by closing offices and subleasing space. - With this latest sublease listing, Google adds to the approximately 2 million square feet of office space it offloaded in the previous year, contributing to the surplus of available office space in the Bay Area.

Jeff Bezos' recent decision to make Miami his new home is more than a personal lifestyle choice; it's a significant indicator of Florida's emerging status in the tech world. This move, paired with Amazon's search for office space in Miami, highlights the state's increasing appeal to the tech sector. Florida is rapidly evolving into a key tech hub. In 2023 alone, the tech industry here is expected to grow by 3.5%, adding nearly 17,000 jobs and contributing $80 billion to the economy. Particularly, Miami has emerged as a vibrant center for startups and tech innovation, thanks to its dynamic culture and business-friendly environment. The state's recovery to pre-COVID job levels, driven by technology and innovation, underlines its economic resilience. Florida's strategy to grow into a top global economy is further evidenced by its leading role in adding new tech companies nationally. Bezos' relocation to Florida symbolizes the shifting dynamics in the tech industry, positioning the Sunshine State as a burgeoning hub for innovation. As tech professionals, it's crucial to watch this space for new opportunities and trends in the industry. https://lnkd.in/eE-tjBX7 #TechIndustry #FloridaTech #JeffBezos #Innovation #EconomicGrowth #TechTrends #Florida #Miami #Cryptonews #AI

Amazon Renews Lease at Met Park North Amidst Market Trends Amazon has opted to renew its lease at Met Park North, a 140,000-square-foot space near its Denny Triangle campus. Despite earlier speculations of Amazon leaving when its lease ends later in 2023, they've decided to stay for an additional two years. This move contrasts the recent trend where tech giants, like Microsoft, Meta, and T-Mobile, have either let their leases expire or marketed spaces for sublease since the onset of the pandemic. This decision underscores a positive signal for the Puget Sound office market, especially when considering the current vacancy rates in tech-heavy regions of Seattle and Bellevue. #smartcap #redmond #kirkland #amazon #seattle #returntooffice #lease #renewal #dennytriangle #pugetsound #office #officemarket

What I Read This Week... -**Google is Leaving SF**: Google has decided to vacate its office tower in San Francisco, marking a significant shift in its operational footprint within the city. [Read more](https://lnkd.in/dVDjgG63) - **Omega is Leaving SF**: Another iconic name, Shreve & Co., is also leaving San Francisco's Union Square, signaling changes in the retail landscape of the area. [Read more](https://lnkd.in/dHEAWjU9) - **Decoding Neuronal Variability: Bridging Shape and Behavior**: A fascinating study that delves into how neuronal variability can be decoded to understand the relationship between neuronal shape and behavior. [Read more](https://lnkd.in/dYnaSmbf) What a time, what a time! Sounds like it’s time to bring some new ideas into San Francisco.

"Amazon has 3.5 empty desks now. In 3 to 5 years they will cut it down to having just 1 and it will save them $1.3 billion." When you think of your office, do you imagine or see empty desks and accompanying chairs. Do you see some untouched hardware even? You see, this isn't just unoccupied space - it's a silent drain on resources. It's what the corporate world calls the office vacancy rate: a measure of the percentage of space that's paid for but not utilized. A tangible reflection of where we can take from to pour into something else. This isn't merely about saving on rent. It's about reallocating those funds towards what genuinely moves the needle - people, sales, innovation. It’s a lesson in prioritization. Every euro spent in renting empty space is a euro not spent on training teams to excel in cold calls, overcome objections, manage workload effectively or innovate next USP (cause since launching competitors have caught up with you). As professionals, our challenge is to look beyond the immediate and recognize the opportunity costs of our decisions. Amazon's move? Strategic move worth taking notes on.