Facebook Planning Major Austin Expansion
Facebook announced it would expand its Central Texas presence by leasing more than 230,000 square feet at Third + Shoal, an under-construction office building at 208 Nueces St. in downtown Austin. The new space will close to double the technology company’s current Austin space, which totals 120,000 square feet.
Under the new lease, which was made with developers Cielo Property Group, TIER REIT Inc. and Invesco Real Estate, Facebook will occupy 10 floors, which could accommodate anywhere from 1,250 to 1,500 employees. Facebook also has the right of first offer to acquire the 345,000-square-foot building, according to public documents.
The building, due to open by Q3 2018, is on a site that once held the Austin Music Hall.
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