This is a carousel. Use Next and Previous buttons to navigate
Facebook's parent company Meta has signed the biggest U.S. office lease of 2021, taking 719,037 square feet of space in Sunnyvale. Separately, the tech giant also leased 520,000 square feet in Burlingame. It's clear evidence that the rise of remote work hasn't eliminated the tech industry's voracious demand for office space.
"These offices will help support our employees' evolving workforce needs," Chloe Meyere, a Meta spokesperson, said in a statement confirming the deals.
Meta's Sunnyvale lease across four buildings near Crossman Avenue in the Moffett Park neighborhood came seven months after landlord Tishman Speyer bought the properties for $365 million from tech firm NetApp, which vacated the buildings to move to San Jose this year .
"Silicon Valley remains the global center of innovation and its importance will continue to grow even as other innovation hubs emerge. We were always convinced that the tech sector would maintain a strong appetite for high-quality collaborative spaces and are excited Sunnyvale will house one of the world's leading companies," Tishman Speyer CEO Rob Speyer said in a statement.
The New York-based property giant has also been active in San Francisco and owns 333 Bush St. It developed the Lumina and Infinity condo towers and is a partner with the San Francisco Giants on the Mission Rock project , which is under construction.
The Burlingame deal at 555-577 Airport Blvd. is at a project branded Peninsula Innovation Point, which was sold to North Carolina investor Barings in July. The site is not far from Meta's Oculus division offices.
This is far from the first big deal by tech companies during the pandemic. In May, Apple leased 700,000 square feet across six buildings in Sunnyvale. In New York, Facebook leased 730,000 square feet at the Farley Building last year, and Google is buying a west side office building for $2.1 billion.
The Chronicle reported last month that Facebook was looking for office space in the Bay Area, along with growing tech company TikTok, which also leased 2.6 million square feet in Shanghai at a property owned by Tishman Speyer.
- Flying high: how Bird Box became Netflix's biggest hit to date
- Self-driving cars: your complete guide to autonomous vehicles
- LinkedIn becomes latest tech firm to establish campus in Dublin
- LinkedIn latest tech company to unveil new Dublin campus
- Google quietly expands in New York in wake of Amazon’s stumble
- No Logo at 20: have we lost the battle against the total branding of our lives?
- Sandwich machine of the future has a few bugs
- Who owns the country? The secretive companies hoarding England's land
- Long-shot Democrat Deval Patrick says in first campaign ad that he entered 2020 race late because his wife was diagnosed with cancer
- Marianne Williamson lays off her entire campaign staff - but spiritual guru is STILL in the race to be the Democrat who takes on Donald Trump
- 'We choose truth over facts!' Gaffe-prone Joe Biden hits the Iowa State Fair by mangling campaign soundbite and mistakenly calling himself 'President of the United States'
- Tamil Nadu in 2019: Not a dull moment
- Every Mary-Kate and Ashley Olsen Movie, Ranked by Surreality
- Bet you think this song is about you
- Best SEO tools of 2020
- Ceausescu’s children
- ‘It needs serious homework’: how to find the perfect university course
- Karachi vice: inside the city torn apart by killings, extortion and terrorism
- Separated twins move to rehab after emotional hospital farewell
- ‘Morning Show’ Exec Producer on Moving From Programming to Building Production Banner
Facebook parent Meta signs biggest U.S. office lease of 2021 in Sunnyvale, huge expansion in Burlingame have 598 words, post on www.sfchronicle.com at December 2, 2021. This is cached page on Movie News. If you want remove this page, please contact us.