Facebook To San Francisco?
Facebook is reportedly mulling expanding its offices up the peninsula into San Francisco. Though plans are still not finalized, the move north from Menlo Park could reignite the city’s office market.
The social network is thinking of renting a lot of office space (100k-plus SF) in the city, reports the San Francisco Business Times. Facebook's Oculus VR has space in San Francisco, but the company has historically worked from Menlo Park. (That's CEO Mark Zuckerberg, right, showing off the new Menlo Park HQ to US Secretary of State John Kerry in June.) San Francisco’s plan to rezone Central SoMa for taller buildings has Facebook testing the market.
While some developers said earlier in the year that large office leases in San Francisco would be hard to close, Facebook's move to SoMA could upend that equation. The marquee deal could draw interest from established companies in South Bay to move some of their offices to San Francisco. It wouldn't be the first Silicon Valley firm to consider a SoMa move. Apple took space there earlier this year. [SFBT]
