Salesforce.com is spending almost $700M on HQ expansion

Salesforce Logo
Salesforce.com, Inc. (NYSE:CRM) is a cloud software company that is planning to expand its San Francisco headquarters by more than 700,000 square feet by taking a 15.5-year lease on a 61-story office story building that is under construction. Salesforce.com is going to lease over half of the building, which will be located at: 415 Mission Street. Part of the HQ will be called Salesforce Tower.

Salesforce.com made the deal with developer Boston Properties to make $560 million in lease payments over the 15.5 year agreement starting in the first quarter of Salesforce.com’s fiscal 2018, according to a filing with the SEC. Salesforce.com’s downtown San Francisco presence will be sized at around 2 million square feet by 2017.

Salesforce.com has been growing its staff at a rapid pace, largely through acquisitions. The company is nearing $5 billion in annual revenues as well. As of January 31st, Salesforce.com hit 13,300 workers, compared to 9,800 a year earlier. Salesforce.com is adding over 1,000 employees in the Bay Area this year alone.

[Source]

Leave a Comment