Strava will move its headquarters into a 41,000-square-foot office in Downtown San Francisco subleased from Meta.
The locally based maker of a fitness-tracking app subleased the office for a larger headquarters at 181 Fremont Street, in SoMa’s Transbay District, the San Francisco Business Times reported, citing an unidentified source.
The tech firm will move from its current 34,000-square-foot headquarters at 208 Utah Street, straddling the Mission District and Potrero Hill, where the lease expires next summer.
Its new headquarters will have nearly 21 percent more space.
The tech firm subleased the office from Meta, the Menlo Park-based parent of Facebook, which put all its offices up for rent early last year, after undertaking what one of its executives described as a recalibration of its office portfolio.
Terms of the lease were not disclosed. JLL represented Meta, while Cushman & Wakefield represented Strava in the deal.
In 2017, the social media company leased the entire 435,000-square-foot office component from Jay Paul Company, the locally based landlord of the 55-story building. The tower has 67 condominiums on its upper floors.
In January last year, Meta put the building up for sublease, months after announcing it would spend $3 billion to end global office leases to cut costs.
Meta’s capsule of cubicles was the largest sublease listing in San Francisco after a shift to remote work during the pandemic drove office vacancy to a record 37.3 percent, according to CBRE.
Last fall, Nevan subleased 36,000 square feet, followed by Zendesk, which subleased 41,000 square feet this summer.
Add the sublease from Strava, and the three tech firms take up 118,000 square feet, leaving 317,000 square feet of Meta’s remaining offices vacant. The company’s lease at 181 Fremont expires in March 2031.
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