Meta, formerly Facebook, leases huge tech campus in Sunnyvale

SUNNYVALE — Meta, the tech titan whose apps include the Facebook social network, has completed a huge lease in Sunnyvale in a deal that marks a big expansion for the company.

In the largest private-sector office lease of this year — nationwide — Meta has rented 719,000 square feet at a campus located near the corner of Crossman Avenue and Caribbean Drive in northern Sunnyvale that also fronts on East Java Drive.

In a separate transaction that points to significant expansions for Meta, the tech company leased 520,000 square feet in Burlingame on Airport Boulevard in a project known as Peninsula Innovation Point.

The Sunnyvale rental deal becomes a big-time win for Tishman Speyer, a veteran developer that just seven months ago bought the campus, which features four buildings and enticing open space amenities.

“We are pleased that Meta has chosen Tishman Speyer and our Sunnyvale campus,” said Rob Speyer, chief executive officer of Tishman Speyer.

Newmark commercial real estate brokers Phil Mahoney, Michael Saign and Jon Mackey represented Tishman Speyer in the leasing deal, which Tishman Speyer said it believes is the largest commercial real estate lease in the nation during 2021.

“I can confirm that we signed new leases in Burlingame and Sunnyvale that total more than 1 million square feet,” said Chloe Meyere, a spokesperson for Meta. “These offices will help support our employees’ evolving workforce needs.”

Tishman Speyer’s Sunnyvale campus features an array of amenities, including a gym with a basketball court, lockers, showers, an outdoor volleyball court, executive briefing center, a full-service cafeteria, multiple kitchens, break centers, phone rooms and other common areas.

Meta’s mega lease in Sunnyvale counters gloomy predictions that tech companies would flee Silicon Valley and that tech firms intended to focus on letting employees work from home rather than return to their offices.

“Silicon Valley remains the global center of innovation and its importance will continue to grow even as other innovation hubs emerge,” Speyer said.

Read More:Meta, formerly Facebook, leases huge tech campus in Sunnyvale

2021-12-01 23:51:03

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