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Facebook drops $35M on first urban office in San Francisco

People & Companies / Latest News

United States of America

Sep 23 2017

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The Real Deal

Up to 3,000 Facebook employees are to be working in the heart of San Francisco by the end of the year.

The tech giant inked a $35 million lease for 436,000 square feet of office space because busing employees about two hours through infamously bad traffic to company headquarters in Menlo Park was becoming unwieldy. Surprise, surprise. The deal is the biggest office lease signed in San Francisco in three years, according to Business Insider.

The South of Market tower, known by its address, 181 Fremont, will be mixed-use with 67 residential units on the upper 17 floors, while Facebook’s offices take over the lower 33 floors. Designed by influential interior designer Orlando Diaz-Azcuy and Heller Manus Architects, the design team set out to establish a new bar in luxury living for the 67 condos. Their artisan-crafted interiors, in combination with an earthquake resistant design, cost the developer Jay Paul Company $665 million to build.

Facebook says many of the employees who will be based in the new urban office are part of their Instagram division. The tower is expected to be open by the end of the year.

SOURCE: The Real Deal


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