Though no official deals have been inked, there is speculation of social media giant, Facebook, opening it's first office in San Francisco. Sources have stated that Mark Zuckerberg's company is considering leasing sizable square footage but is waiting until approval of the Central SoMa Plan, which could create millions of square feet of new commercial space thanks to the Plan's upzoning of the tech-heavy borough.
Should Facebook make a move to San Francisco, this would cement the city's status as a 'global tech capital' for both fledgling startups as well as for one of the biggest tech companies in the world. Oculus Rift, a division Facebook that is developing virtual technology, has 5,000 square feet of office space at 524 2nd Street in San Francisco.
In January 2016, Facebook purchased it's current Menlo Park headquarters and has additional plans for 962,000 square feet of new office space in the city to house 6,550 employees. Facebook is Menlo Park's largest employer and the 14th largest employer in the Bay Area excluding santa Clara County.
The social media giant provides free shuttle transportation that courier its Oakland and San Francisco employees to its headquarters and has offered a $10,000 incentive to workers to reside within a 10-mile radius of it's Menlo location. But for Facebook employees who make the commute from San Francisco southward every day, the drive - be in on a company shuttle, car or public transportation - is a major drawback. In addition, Facebook has been the target of recruiters who are luring its employees living in the city to more local corporations such as Uber Technologies. These are the factors driving the company's possible interest in setting up a San Francisco hub.
Rumors are swirling and Facebook officials have yet to make an official comment on whether the company will indeed explore an expansion within the boundaries of San Francisco.