It's confirmed! We reported the rumor in June, denied by Facebook at the time, that the social media giant was in talks with real estate brokers to lease a large amount of office space in San Francisco finally bending to employees' demands for an option that did not include daily commutes to Menlo Park. And the big rumor was they might take the entire office portion of 181 Fremont, the almost complete high-rise that is also set to feature 17 floors of luxury condos.
As the Business Times is reporting, Facebook has inked the largest office lease in SF in the last three years, taking 50 floors and 436,000 square feet in the building, suggesting it will house between 2,000 and 3,000 employees of Facebook (and Instagram). This is the largest office lease inked since Salesforce signed on to take the majority of what was then called the Transbay Tower, in 2014.
In June Facebook was downplaying the rumor, saying they may just look for space to put about 100 Instagram employees in SF somewhere, and they were apparently looking at space in the Chronicle building as well (though obviously that's hardly a marquee-worthy property on the level of a shiny glass skyscraper). The Registry was the first to hear the rumblings from the real estate world that 181 Fremont was really where Facebook may be headed.
The building, designed by Heller Manus architects and situated basically next door to Salesforce Tower, is a pretty addition to our new skyline, with its zig-zag seismic reinforcements on the exterior. And, as we learned in July, the penthouse in the 70-story tower is on the market for $42 million.
181 Fremont, perhaps soon to be known as Facebook Tower, is set to be complete later this year.