Facebook’s parent company Meta signs historic lease in Austin, TX

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Standing at 873 ft high, Sixth and Guadalupe will be the tallest building in Austin. | Rendering courtesy Gensler.

Austin just got weirder, because it’s going to be a part of the metaverse, you know, the virtual world.

Meta Platforms Inc. — the parent company of Facebook that’s based in California — confirmed to the Austin Business Journal that it is leasing all of the commercial space of Sixth and Guadalupe, a mixed-use 873-ft tower that will be the tallest in the city.

What’s the metaverse?

The metaverse is made up of virtual 3D spaces that will allow people to socialize, learn, collaborate, and play beyond imagination. We’ll let Mark Zuckerberg — the co-founder and CEO of Meta Platforms (formerly Facebook, Inc.) — explain in this video.

What you need to know:

  • Meta is leasing 589,000 sqft of office space
  • Leased space spans across 33 floors of the 66-floor tower
  • The lease was signed on Dec. 31
  • It’s the second-largest single office lease in the history of downtown Austin 
  • The company is planning to add 400 more employees to its current 2,000 local employee list
  • Construction on the building is planned to wrap up in 2023

If this news has you curious about new major developments, we’ve got you covered. We’re dishing the details on major developments coming to town in this list.

Question

What do you think this means for Austin’s ever-growing tech scene? Meta us know here.