Juul Labs, an electronic cigarette start-up that has actually raised more than $12 billion in financing, is supposedly nearing an offer to acquire a skyscraper in downtown San Francisco to house its quickly growing personnel.
According to a report in the San Francisco Chronicle on Wednesday, Juul has its sights on 123 Objective Street, a 29- flooring structure near the city’s Transbay location in the Financial District. The business just recently acquired a refurbished historical structure near Pier 70 in the city’s establishing Dogpatch community, the report stated.
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Juul representative Ted Kwong would not verify the report, however stated that the business had actually grown from 200 staff members to 2,000 in the in 2015, with a a bulk of the employees found in the business’s San Francisco head office.
“As an outcome, we are presently searching for extra office in San Francisco and the surrounding Bay Location, however we have absolutely nothing to reveal at this time,” Kwong informed Organisation Expert through e-mail.
Juul initially acquired prestige for its aggressive marketing for its flavored e-cigarettes focused on teenagers. The business is now partially owned by Altria, the tobacco giant that makes Marlboro cigarettes, and has come under extreme examination from federal and regional health authorities for its declares that vaping is a healthy option to cigarettes
According to the San Francisco Chronicle report, the structure in concern is 5 times the size of the business’s existing office, and was last offered in 2018 for $290 million. If Juul purchases the structure, the offer will be among the biggest in San Francisco history for a tech business that does not concentrate on property, according to the report.
The business’s Dogpatch existence fired up a firestorm amongst San Francisco political leaders and citizens, and authorities presented legislation in March that would forbid e-cigarette business like Juul from inhabiting city-owned home, according to a San Francisco Chronicle report