AUSTIN — Facebook has signed a lease for 231,507 square feet in a new office tower currently under construction in downtown Austin.
According to reporting by Shonda Novak and Lori Hawkins of the Austin American-Statesman, Facebook will occupy 10 floors of the 29-story tower known as Third + Shoal, located at 208 Nueces Street.
The project is a joint development by Austin-based Cielo Property Group, TIER REIT and Invesco. The newspaper reports that Facebook holds an option to purchase the entire 345,000-square-foot building, which is scheduled for completion in the third quarter of 2018.
Facebook already maintains a presence in downtown Austin, with roughly 700 employees working from an office building on Sixth Street.