After leasing a series of large office spaces in Los Angeles, Facebook is on the brink of a major deal in San Francisco.
The Social Network is close to signing the entire Park Tower at Transbay, a 43-story office building owned by John Buck Company that is set to be delivered to the Transbay redevelopment area this year, sources told the Silicon Valley Business Journal.
A deal hasn’t yet been signed for the 757,300-square-foot tower at 250 Howard Street, which Google and Amazon were also reportedly in talks to lease, the publication reported. All three companies signed leases around the Park Tower last year.
If a deal is consummated, Facebook will be on the verge of wrapping up more than 1 million square feet of new space for its workers in California in just the past year.
Floor plates in the Park Tower range from 12,000 to 27,500 square feet. Over a dozen floors feature sky decks, according to the Registry, a San Francisco real estate news outlet.
Transbay is a neighborhood the city is creating around the under-construction Transbay Transit Center near the Oakland Bay Bridge, which is meant to be the primary bus and rail terminal for the city. The city adopted a plan with the goal to create 6 million square feet of office space, around 4,400 housing units, 100,000 square feet of retail space, and 11 acres of park space.
The neighborhood is anchored by Hines’ Salesforce Tower, which opened in January as the tallest building in the city and second-tallest west of the Mississippi behind the Wilshire Grand in Los Angeles, where Facebook has also been on a leasing spree.
The company inked a 50,000-square-foot lease at the Playa Jefferson campus in Playa Vista last year and is in talks to lease another 122,000 square feet at the nearby Brickyard development.
It also leased 80,000 square feet at the Mix at Harman Campus in the San Fernando Valley in October. [SVBJ] – Dennis Lynch