Form 8-K SALESFORCE COM INC For: Nov 10
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�UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549�
________________________________________________________�
FORM 8-K
________________________________________________________
CURRENT REPORT
Pursuant to Section�13 or 15(d) of the
Securities Exchange Act of 1934
November 10, 2014
Date of Report (Date of earliest event reported)
�
__________________________________________________________
salesforce.com, inc.
(Exact name of registrant as specified in its charter)�
__________________________________________________________�
�
Delaware | 001-32224 | 94-3320693 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I. R. S. Employer Identification No.) | ||
The Landmark @ One Market, Suite 300
San Francisco, CA 94105
(Address of principal executive offices)
Registrants telephone number, including area code: (415)�901-7000
N/A
(Former name or former address, if changed since last report)
�________________________________________________
�
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
�
� | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
� | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
� | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
� | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item�1.01 Entry into a Material Definitive Agreement.
On November 10, 2014, salesforce.com, inc. (the Company ) entered into an agreement of purchase and sale (the Purchase Agreement ) with 50 Fremont Tower, LLC ( Seller ), a wholly owned subsidiary of Teachers Insurance and Annuity Association of America, to purchase the real property known as 50 Fremont Street, San Francisco, California (the Property ). Of the approximately 817,000 rentable square feet comprising the Property, the Company currently leases approximately 500,000 rentable square feet from the Seller. At closing, the Company will assume Sellers rights and obligations under leases with other tenants of the Property, with such leases having current expiration dates ranging from 2015 to 2025 and with such tenants having one or more additional renewal options of three to five years.
The total purchase price for the Property is approximately $640 million, subject to customary prorations and credits as set forth in the Purchase Agreement. The Property is subject to and secures an existing loan in the amount of approximately $200 million, which the Company will either assume or pay at the closing of the transaction. Amounts otherwise due to the Seller at closing under the Purchase Agreement will be reduced by the amount of any debt assumed or paid by the Company with respect to this loan on the Property.
The transaction is expected to close in the Company's first quarter of fiscal 2016, subject to customary closing conditions.
Item�8.01 Other Events.
On November 12, 2014, the Company issued a press release announcing its entry into the Purchase Agreement described above. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The�information�in this current report on Form 8-K under this Item 8.01 and the exhibit attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act ) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |
99.1 | Press Release, dated November 12, 2014 | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
�
Dated: November 12, 2014 | salesforce.com, inc. | |||||||
By: | /s/ Burke F. Norton | |||||||
Name: | Burke F. Norton | |||||||
Title: | Executive Vice President and Chief Legal Officer | |||||||
EXHIBIT INDEX
�
Exhibit No. | Description | |
99.1 | Press Release, dated November 12, 2014 | |
Media Relations:
Kristofer Konietzko
Salesforce
(415) 371-7374
Salesforce Signs Agreement to Purchase 50 Fremont Street Building, Expanding Worldwide Headquarters in San Francisco
The worlds fastest growing top 10 software company and San Franciscos largest tech employer strengthens commitment to the City
Salesforce has already hired more than 1,100 employees in San Francisco in 2014
SAN FRANCISCONov. 12, 2014Salesforce (NYSE: CRM), the Customer Success Platform and world's #1 CRM company, today announced an agreement to purchase 50 Fremont Street, a 41-story building located at the intersection of Fremont and Mission Streets in San Franciscos South of Market (SoMa) district. Salesforce is purchasing the property from financial services organization TIAA-CREF. In addition, the worlds fastest growing top 10 software company and the Citys largest tech employer announced it has already hired more than 1,100 employees in San Francisco in 2014.
Comments on the news
" | The purchase of 50 Fremont Street will allow us to expand our global headquarters in the heart of downtown San Francisco, strengthening our commitment to the City, said Burke Norton, EVP and chief legal officer, Salesforce. Salesforce was founded in San Francisco 15 years ago and we have always prioritized growing and hiring in San Francisco and this additional space ensures that we can continue doing so for many years to come. |
" | We began investing in San Franciscos South Financial District more than a decade ago with the purchase of 50 Fremont Street, said Lynette Pineda, senior director, head of capital markets - sales, TIAA-CREF Global Real Estate. The asset has performed well, yet we are constantly reviewing our holdings and rebalancing the portfolio to best meet investment goals. We will remain active as buyers in the Bay Area and continue to seek office, retail and multifamily acquisitions. |
Expanding Worldwide Headquarters in San Francisco
Salesforce currently leases more than 60 percent of the available space in the 50 Fremont building, and upon closing of the transaction, Salesforce will have the option to take on additional space in the building as it becomes available. 50 Fremont consists of a 41-story office building and two retail buildings totaling approximately 817,000 square feet as well as an adjacent plaza.
With existing space, the new office expansion at 50 Fremont, the recently announced Salesforce Tower above the planned Transbay Transit Center and the lease of 350 Mission, which is currently under construction, Salesforce's worldwide headquarters is projected to exceed two million square feet by 2017. Centered around the intersection of Mission and Fremont Streets, the urban campus offers convenient access to public transit, freeways and other key amenities along the Market Street corridor.
San Franciscos Largest Tech Employer Continues to Grow
Salesforce is committed to the city of San Francisco and continues to grow and hire locally. One of Fortunes Best Places to Work for the past six years and recognized by Forbes as the Most Innovative Company for the last four years, Salesforce today announced it has already hired more than 1,100 employees in San Francisco in 2014. As San Franciscos largest tech employer, Salesforce has more than 5,000 employees in the Bay Area and more than 15,000 employees worldwide.
Job postings can be found at http://www.salesforce.com/company/careers/.
Additional Information
" | Find your #dreamjob: http://www.salesforce.com/company/careers/ |
" | Follow @Salesforce on Twitter |
" | Like Salesforce on Facebook: http://facebook.com/salesforce |
About Salesforce
Salesforce, the Customer Success Platform and world's #1 CRM company, empowers companies to connect with their customers in a whole new way. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.
Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol CRM. For more information please visit http://salesforce.com, or call 1-800-NO-SOFTWARE.
Safe harbor statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements, including statements relating to Salesforces (the Companys ) real estate, hiring and growth. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any such risks or uncertainties materialize, or if any of the assumptions prove incorrect, the Companys results could differ materially from the results expressed or implied by the forward-looking statements we make. Further information on factors that could affect the Companys financial and other results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings we make with the Securities and Exchange Commission from time to time, including the Companys most recent Form 10-K. These documents are available on the SEC Filings section of the Investor Information section of the Companys website at www.salesforce.com/investor. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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� 2014 salesforce.com, inc. All rights reserved. Salesforce, Salesforce1, Sales Cloud, Service Cloud, Marketing Cloud, AppExchange, Salesforce Platform, and others are trademarks of salesforce.com, inc. Other brands featured herein may be trademarks of their respective owners.
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