Social network Giant Moving Instagram App Unit into New Building Under Building by Jay Paul at 181 Fremont
Facebook, Inc. has rented all 436,000 square feet of workplace at developer Jay Paul’s 181 Fremont St., a 70-story workplace tower under building in downtown San Francisco throughout from the Transbay Transit Center.
The social media giant rented the space for about $80 per square foot and will occupy the entire workplace part of the 802-foot-tall structure, situated less than a block from Salesforce Tower, the city’s tallest skyscraper.
The lease, which was initially reported by the San Francisco Organisation Times, is Facebook’s first major lease in San Francisco and can accommodate as much as 3,000 staff members. The Menlo Park, CA-based business has scouted the mSan Francisco market for a number of years searching for a location to assist reduce commutes for staff members who reside in the city.
Facebook’s Instagram picture app department will initially to move into the structure, slated for conclusion by the end of this year. Last month the business exposed plans for a corporate school in the 56-acre Menlo Science & & Technology Park near its current head office, which it acquired in 2015.
JLL’s Zé Figueirinhas represented Facebook in the deal while Karl Baldauf and Lauren Whitlock of Newmark Cornish & & Carey represented the designer Jay Paul.
Licensed Research study Expert Eric Kies added to this report.