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Tesla Inc. is opening a new office remodeling facility in San Francisco.

The Palo Alto-based automaker has purchased an office building on the former site of the former Stanford University, and is building two other buildings next door to the space, Tesla said on its website.

The company said the two buildings will be able to house up to 500 people and include an entertainment center, a fitness center and a meeting and conference space.

It will also have an outdoor plaza with parking for up to 100 cars.

Tesla said the new facility will have an average annual rent of $1.3 million.