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5/23/18
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Facebook has agreed to lease the entire 756k sf Park Tower at Transbay office development in what stands as the largest office lease in the city’s history. The 43-story high-rise, located at 250 Howard St in the city’s SOMA District, is a development of MetLife, John Buck Co and Golub & Co.
Terms of the transaction were not disclosed. The deal gives Facebook almost 1.2 msf of space in San Francisco, making it the third largest tenant in the city. Facebook also took 436k sf of space at 181 Fremont for its Instagram division just last year, and has additional projects in the work in other parts of the Bay Area.
Park Tower, which includes 14 sky decks along with about 25k sf of outdoor space, was designed by Goettsch Partners and Solomon Cordwell Buenz. It is slated to open later in 2018.
Real estate services firm JLL represented both parties in the transaction.
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