Apple Building Out New Hub In Seattle

Apple Inc. (NASDAQ: AAPL) has unveiled details for a massive new office complex the company is establishing in the Seattle area. The company has announced that it is leasing a considerable amount of office space at 333 Dexter Ave. N., at Dexter Avenue and Thomas Street in the South Lake Union neighborhood. The South Lake Union site is just one block west of Amazon’s headquarters campus.

The project, being developed by Kilroy Realty, is slated to two 12-story buildings with 635,000 square feet of office and retail space and 19,000 square feet of outdoor space. Using conventional office space ratios, the complex could hold approximately 3,000 to 4,500 workers. The space will officially open by the end of the year.

In 2018, Apple announced plans to employ more than 1,000 workers in Seattle by 2022. That goal has since been expanded to 2,000 new jobs over the next five years. About 200 of those employees will be in place by the end of the year. Seattle Mayor Jenny Durkan said in a statement, “Apple’s expanded footprint in Seattle is another example of the growing opportunity that exists for residents of Seattle and the economic powerhouse our city has become.”

Apple’s move seriously increases competition for talent in the Seattle region. Amazon currently employs more than 45,000 in Seattle while Facebook has 3,000 employees. Google is also building a new campus in the South Lake Union neighborhood. More than 100 out-of-town companies also have engineering offices based in the area.

The new project in Seattle is part of Apple’s recently announced national expansion effort. The expansion announcement included details for a $1 billion, 133-acre new campus in Austin, Texas, and plans for significant growth in three other U.S. cities.