After years of speculation over who would gobble up the massive, iconic Sears building in the middle of Uptown Oakland, Uber has announced a purchase. 

The ride-sharing monster plans to open a global headquarters in Oakland by 2017, after some renovations have been done to the historic building, which is now being known as Uptown Station (eye roll). The proposed changes will include an upscale speciality market on the ground floor and a central atrium to allow natural light in the office space. 

What does this mean for the Town? Uber already has a half-million square feet of space rented across three buildings on Market Street in San Francisco as well as another 423,000 square feet at its new Mission Bay headquarters, set to open in 2017. If Uber fills the Sears building completely, it would become Oakland’s largest employer (that isn’t a government agency or medical center) and likely prompt the construction of several luxury apartment units around the area. In short: your rent is about to go up.