Facebook Leases Entire Tower in San Francisco Expansion
Facebook is constantly expanding in its Silicon Valley hometown of Menlo Park. Now it’s making a bigger push into San Francisco, according to Bloomberg.
The social media giant reached a deal to take all the office space at the newly constructed Park Tower at Transbay, according the asset management arm of MetLife, one of the building’s developers. It’s the second big step into the city for Facebook following an agreement last year at 181 Fremont, another new tower.
“We look forward to joining the San Francisco community as we gradually grow into MetLife Investment Management’s Park Tower,” John Tenanes, Facebook’s vice president of global facilities and real estate said in an emailed statement. “This new space will support our growing workforce as we continue to attract strong talent.”
Giant tech companies have been eager to lease offices in cities in recent years to recruit employees who want to live in urban areas, rather than requiring them to commute to a suburban campus. That’s fueled intense competition for large blocks of space in the new towers that are opening in cities such as San Francisco and Seattle.
LinkedIn and Google are among the firms that have taken space in San Francisco buildings, even though their headquarters are to the south in Silicon Valley. Facebook currently buses employees from all over the Bay Area to its Menlo Park campus, which is about 48 kilometers from San Francisco.