In a bid to increase its physical presence in San Francisco, Facebook signed the “largest office lease in three years,” according to San Francisco Business Times, inside the spinning needle-topped 181 Fremont luxury tower.
The company’s small Instagram team will be first to move into the space later this year after the building officially opens.
San Francisco Business Times reports,”The lease of 436,000 square feet was confirmed by Matt Lituchy, chief investment officer of landlord Jay Paul Co. Sources said the asking rent was around $80 per square foot.”
The mammoth social media outfit already has a Frank Gehry-designed headquarters in Menlo Park. The 430,000-square-foot megaplex boasts the largest open floor plan in the world. But they don’t plan on moving their HQ.
“Facebook is considering this a ‘test’ or ‘pilot’ of San Francisco office space, our source said, so don’t expect it to suddenly relocate its massive Menlo Park headquarters from Silicon Valley up to the city,” noted TechCrunch earlier this year.
The company has offices in 68 cities around the world.
Facebook employees will queue up for overpriced poke and pour overs with Salesforce employees inside the adjacent Salesforce Tower, expected to open early 2018.
- One Year Later, Facebook HQ is Still Ready for Its Close-Up [Curbed SF]
- San Francisco penthouse asks record $42 million [Curbed SF]
- First Look at Orlando Diaz-Azcuy-Designed 181 Fremont Residences [Curbed SF]
- Facebook arrives in San Francisco with city's largest office lease in three years [Business Times]
- Facebook will lease its first San Francisco office, for Instagram [TechCrunch]