Getting too big for its current fishbowl, personal cloud storage company Dropbox is looking for a change of scenery–and a bigger office to swim in. They also intend to hire 400 more employees, making them 8 times larger than their current size.

Dropbox is currently wrapping up the entire relocation process. From Market Street, they will move across town to 185 Berry Street in China Basin. The new office will have an area of 87,000 square feet, and is much bigger than its current 11,000 square feet office. The move is the second largest tech lease in San Francisco for 2011, a runner up to Twitter’s lease in Central Market, says real estate firm Jones Lang LaSalle.

Speculations also have it that Dropbox is currently working on raising $200-$300 million in funding, upraising their value to $5 billion. The company spokesperson did not comment on the speculation but she did say the company is earning a good deal of revenue. She also made it clear that the new round of funding is another story from the lease–so is the hiring of 400 more employees.

San Francisco is thrilled about the entire relocation idea and the new jobs it will bring. “While the state and the nation are focused on jobs and the economy,” says San Francisco Mayor Edwin M. Lee. “San Francisco’s economy rumbles forward – adding new jobs thanks to the growth of firms like Dropbox. Dropbox’s move is a significant expansion which continues the steady drumbeat of innovative, talent-driven companies which start, stay and grow right here in San Francisco. I want to congratulate Dropbox on their new San Francisco headquarters.”

The new office will be heavily renovated, turning it into a “creative space for people who love to build things,” says Dropbox CEO Drew Houston. San Francisco is yet again excited about the whole office face-lifting.

We can recall Dropbox to have had security hiccups and some sort of tumult caused by the changes made on its terms of service. As Dropbox manages to overcome the disturbances, we expect the company to cover other devices under its service as well such as, perhaps, cameras.

In other personal cloud storage talks, Dell announced the release of the updated Stage software, allowing users to more easily access their music, videos and images across Dell devices. Box (formerly Box.net) is rapidly expanding into other devices aside from Apple and those Android-powered. They are currently in talks for a relocation to a new office as well, and also brought in Chris Yeh as new Vice President for Platform. File-sharing service YouSendIt plans to expand their offerings beyond file-sharing to tender storage and management features for its file-sharing service as well.