Uber announced a partnership with Alexandria Real Estate Equities to buy two huge parcels of land - 422,980 square feet - in San Francisco's Mission Bay district.
The land, which is located at 1455 and 1515 Third Street, will also be home to Uber's headquarters.
Alexandria had previously sold the land to Salesforce.com in 2010, which was going to build its headquarters there. Those plans were abandoned in 2012.
The site is near where the Golden State Warriors are building their new 18,000-seat stadium.
Uber will own 49% of the building, and will enter a 15-year lease for the space.
According to the Wall Street Journal, Uber will keep its Market Street building and just expand to the new site.