Facebook now has 1.2m square feet of San Francisco office space

Eight months ago, Facebook leased 436,000 square feet at marquee new downtown San Francisco building 181 Fremont, and today they inked a new lease for 756,000 square feet in another new building called Park Tower a few minute walk away.

They now have about 1.2 million square feet in two of the dopest buildings in San Francisco, and paying upwards of $80 a square. Who can compete with that?

Not many … not for awhile anyway. Even if other tech juggernauts can afford big blocks of space, Park Tower is the only major San Francisco building to finish construction this year. Next up is Oceanwide Center with 1.1m of space coming to market in “a few years” according to SF Business Times, which will drive larger tenants to Oakland.

Here’s where the newest deal ranks Facebook on tech companies with most San Francisco square feed owned or leased:

-Salesforce: 2.4m
-Uber: 1.8m
-Facebook: 1.2m
-WeWork: 1.1m
-Dropbox: 1m
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Reference:
Facebook signs giant lease at SF’s newest tower (SF Chronicle)

What Facebook’s massive Park Towner deal means for Bay Area office market (SFBT)