Salesforce is locking in plans to stay in San Francisco for at least the next 15 years.
The cloud-computing company announced plans today to take more than half of the office space available in the Transbay Tower, which is expected to be completed in 2017. Once finished, the 61-story South of Market skyscraper will be the tallest in San Francisco, taking the title away from the Transamerica Pyramid.
The lease reportedly cost $560 million over 15 years. Salesforce will occupy 30 floors of the building at Fremont and Mission streets, earning it the naming rights for the tower.
Salesforce Chief Legal Officer Burke Norton said the company believes San Francisco is the best place for its future, despite the high cost of office space.
“People want to be here in San Francisco, they want to live here, to work here. And that makes it worth it for us to be here as well,” Norton said.
The company plans to continue its leases at several other buildings surrounding the tower, forming a large urban campus.
Cy Musiker contributed to this report.