Social media giant Facebook has signed a lease for 436,000 square feet of office space in downtown San Francisco for approximately $80 per square foot, which would equate to around $35 million, according to news sources. It is the city’s largest office lease in three years.
Facebook is leasing space at 181 Fremont, a mixed-use, 70-story skyscraper that will be the tallest residential building on the West Coast once it’s completed later this year. The tower is located in San Francisco’s Financial District, less than a block from the city’s new tallest building, Salesforce Tower, and will house between 2,000 and 3,000 Facebook and Instagram employees across 33 floors, according to news sources.
The lease is Facebook’s first outpost in the San Francisco.
In July, Facebook unveiled plans to build a corporate campus on the 56-acre Menlo Science & Technology Park in Menlo Park, which it bought in 2015 and is located near its current headquarters.
