Thousands of Facebook employees are about to experience a much more pleasant commute.
The social media giant has signed a lease at 181 Fremont, a mixed-use skyscraper that will be the tallest residential building on the West Coast once it's completed later this year. The tower rises 70 stories over San Francisco's Financial District and will house between 2,000 and 3,000 Facebook and Instagram employees across 33 floors.
The 436,000-square-foot office space will be Facebook's first outpost in San Francisco. The company currently shuttles thousands of employees from the city to its headquarters in Menlo Park, which is located about 35 miles south. The jaunt can take up to two hours in traffic.
The blockbuster deal, which was first reported by the San Francisco Business Times, marks San Francisco's largest office lease in three years. The Business Times didn't report the duration of the lease, but said the asking rent was "around $80 per square foot," which totals to $35 million for the entire space. Facebook declined to confirm details of the lease.