I do not think it means what you think it means.
Our esteemed corporate-owned city council has rubber-stamped another massive development. This will replace several little low-rise, medium-rent light-industrial buildings currently inhabited by small businesses.
The campus aims to attract tech startups as tenants, with amenities ranging from a cafeteria and fitness center to a coffee bar and barber shop.
Okay. So, well-funded startups, then. This looks like a seriously high-rent facility, for companies that have already gotten their $10 million in venture capital.
Total building square footage is 770,000 sf, of which 740,000 sf is office and 30,000 sf is services and amenities. The campus is highly flexible and divisible, and can be leased to one, two or three tenants as 250,000 sf, 530,000 sf, or 770,000 sf.
Um. So, the smallest leaseable unit is a quarter-million square feet? What's the rent, a couple million a month? Plus utilities and whatnot?
So the target tenants are companies with many hundreds of employees, that can afford to blow tens of megabucks a year on a place for them to work.