- There’s no debate the rent in San Francisco is expensive — just ask Salesforce.
- The cloud software company pays $50 million annually to rent space in the recently opened Salesforce Tower, according to a form filed by the company on Friday.
- The company has a lease for the next 15.5 years, for a total of $774 million.
Salesforce occupies prime real estate in San Francisco, and it pays a pretty penny to do so.
The cloud software company will pay $774.1 million over 15.5 years to keep its spot in the recently-opened Salesforce Tower, according to a form filed by the company on Friday.
This works out to about $50 million in rent annually — and that’s just the rent for one of its buildings.
All together, Salesforce leases and owns 1.8 million square feet of property in San Francisco. The majority of this space is spread across three skyscrapers in SoMa, the San Francisco neighborhood that’s home to headquarters for many of the largest tech companies in the US.
Salesforce started moving into Salesforce Tower at the start of the year, but so far the company only occupies just one-ninth of the 882,000 square feet that it’s renting in the building. The recently completed skyscraper, which stands as the tallest building in San Francisco, is actually owned by Boston Properties.
Salesforce’s rented portion of the building includes the 61st floor of the tower, known as the Ohana Room, which has 360 degree views of San Francisco.