Salesforce to invest in new tower in San Francisco

By Staff Reporter

Apr 11, 2014 02:48 PM EDT

Salesforce announced its plans to expand its headquarters by investing in 61 storey tower located in 415 Mission Street, San Francisco. The plan was revealed through a filing with the Security and Exchange Commission with information on how much it would invest for the new tower, said a report from TechCrunch.

The lease would start by 2018 and was valued USD560 million for a 15 year contract. The deal added USD130 million for leasehold improvements. This brings the CRM giant to a total deal valued USD680 million.

The move to lease a new tower has been seen as an interesting move for Salesforce following current debates regarding tech employees who are residing in San Francisco. Salesforce has been confronted with issues regarding workers’ residence as most of them do not live within the city.

Meanwhile, city Mayor Ed Lee said in reference to the Salesforce building investment, “ is a tremendous partner to our City and our residents, bringing thousands of new jobs to San Francisco and solidifying the Transbay District as a leading destination for innovative companies. I want to thank Marc Benioff and for their commitment to start here, stay here and grow here in San Francisco.”

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics