Salesforce Plans New Headquarters With $278-Million Property Purchase

Monday the company said it paid approximately $278 million for the property, located in the Mission Bay neighborhood of the city. The land is adjacent to the University of California at San Francisco campus on one side and the San Francisco Bay on the other.

CEO Marc Benioff, in a statement, said the new headquarters would help Salesforce "continue to attract and retain talented, world-class employees." Salesforce is currently headquartered in The Landmark Building at One Market Street in San Francisco, on the east side of the city near the famous Ferry Building. No date for construction has been set, the company said.

Salesforce said the property is part of the San Francisco Mission Bay redevelopment area. It includes eight parcels of land acquired from Alexandria Real Estate Equities Inc.

The property is located directly on the San Francisco Muni T line at the UCSF station and is also direct accessible from the Mariposa Street exit off of Route 280. Salesforce said the acquisition also includes parking rights in an existing garage.