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Facebook will take the entire office space at 181 Fremont in what is being called San Francisco's largest lease in three years. The lease, which was rumored for months, was confirmed by Jay Paul Co. Chief Information Officer Matt Lituchy Wednesday, the San Francisco Business Times reports. Asking rent is estimated to be about $80/SF.
Facebook will occupy 436K SF at the 802-foot tower, marking the social media company's first lease in San Francisco. 181 Fremont will provide an additional office for Facebook’s Instagram team, which also will maintain a headquarters in Menlo Park. Instagram will begin occupancy in early 2018. 181 Fremont can hold 2,000 to 3,000 employees.
Newmark Cornish & Carey Senior Managing Director Karl Baldauf represented Jay Paul Co., while JLL represented Facebook.
CORRECTION: SEPT. 21, 3:05 P.M. PT: A previous version of this story did not note that Facebook's lease is only for the tower's office space. The story has been updated.
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