Facebook is planning a massive expansion downtown, leasing more than 230,000 square feet and becoming the anchor tenant at the Third+Shoal office tower. The company currently leases 5 floors of the 300 West Sixth office building.
The lease accounts for approximately 10 stories (two-thirds of the building’s rentable space), and the agreement gives Facebook the “the right of first offer” to purchase the building in the future, according to the Austin American Statesman and 512Tech.
Third+Shoal is being developed by Cielo Proerty Group and Tier REIT. The 29-story, 345,000 square foot tower was designed by Gensler and is being built by DPR Construction. The tower is being built on the former site of the Austin Music Hall.
Technology companies have been inking major leases downtown recently, including Google who has leased more then 200,000 square feet across the street at the newly-completed 500 West 2nd street office tower. Stay tuned to BuildingATX as we follow this developing story.