Facebook could be the first tenant at Austin's soon-to-be tallest building, the Austin Business Journal reported Tuesday.
The social media giant is reportedly in negotiations to lease multiple floors of office space at 6 X Guadalupe on 400 W. Sixth St. as it nears completion. The addition would greatly boost Facebook's presence in the Texas capital: as it stands, the company holds its fourth-largest office at nearby 607 West Third St. and 300 W. Sixth St. downtown locations and employs over 2,000.
A source told the Business Journal that Facebook is within 60 to 90 days of closing the deal, but it could keep looking elsewhere. In March, the company was in negotiations to take up all of the 300 Colorado tower but later walked from the deal.
If completed, Facebook would expand from the 476,500 square feet of space it already has in the Austin metro, including the two downtown towers and a warehouse in Pflugerville.
The social media corporation isn't the first to want more space downtown: video sharing platform TikTok is reportedly eyeing the 300 Colorado tower expanding its presence in Austin.
Facebook is the first to show public interest in the 6 X Guadelupe tower, which will become the tallest tower in Austin once completed in 2022. The 66-story tower will have around 590,000 square feet of office space, 10,000 square feet of retail space, nearly 35,000 square feet of amenities and nearly 350 residential units once complete.
If the company's "advanced talks" go according to plan, the company could occupy the space by sometime in 2022, though no specifics have been decided, the source told the Business Journal.
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Giga Texas, the massive Tesla factory in southeast Travis County is getting even bigger.
The company filed with the city of Austin this week to expand its headquarters with a new 500,000-square-foot building. The permit application notes “GA 2 and 3 expansion,” which indicates the company will make two general assembly lines in the building.
More details about the plans for the building are unclear. The gigafactory has been focused on Model Y production since it opened in April, but the company is also aiming for Cybertruck production to kick off in mid-2023.
While there is room for expansion on the 3.3 square miles of land Tesla has, this move comes after CEO Elon Musk’s recent comments about the state of the economy and its impact on Tesla.
In a May interview with Tesla Owners Silicon Valley, Musk said the gigafactories in Berlin and Austin are “gigantic money furnaces” and said Giga Texas had manufactured only a small number of cars.
And in June, Musk sent a company wide email saying Tesla will be reducing salaried headcount by 10%, then later tweeted salaried headcount should be fairly flat.
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