50 Fremont Street was developed and owned by Fremont Properties who sold the building in 2000, which was later purchased by Hines Interests Limited Partnership, who in turn sold the property to TIAA-CREF in late 2004.[6] Hines provided property management for this building until February 12, 2015. The building's design, by Skidmore, Owings & Merrill, includes stepped-back vertical bays at each corner, rising to a building crown that evokes the design of historic Art Deco skyscrapers.[5]
In January 2012, Salesforce announced that it signed an 18-year lease to occupy 400,000 square feet (37,000 m2) for US$339 million.[7] In November 2014, Salesforce agreed to purchase the tower from TIAA-CREF.[8][9]
Salesforce completed its purchase of the building for $637.8 million from TIAA-CREF in 2015, according to public records. Salesforce rebranded the property as Salesforce West at 50 Fremont Street, part of their urban campus plan that includes Salesforce East at 350 Mission Street and Salesforce Tower at 415 Mission Street.[citation needed]
As of May 2023, during what the San Francisco Chronicle described as "Downtown San Francisco['s] worst office vacancy crisis on record," 50 Freemont Street had a vacancy rate of 89.9%.[10]
