Sunnyvale campus occupied by Facebook app owner lands big buyer – The Mercury News

Sunnyvale campus occupied by Facebook app owner lands big buyer – The Mercury News

SUNNYVALE — An monumental tech campus in Sunnyvale that’s leased to the proprietor of the Fb app has landed A critical exact property buyr in a deal that represents a Silicon Valley success storyfacebook.

Moffett Inexperienced, a campus on Crossman Avenue in northern Sunnyvale, has been purchased for $707 million, Based mostly on sources with information of the transaction. facebook.twitter

CommonWealth Companions purchased the campus, which totals 719,000 sq. ft, from Tishman Speyer, Based facebookmostly on The vendor. Facebook-wiki

“This was a compelling funding for CommonWealth Companions, growing our presence On this strategic, extreme-progress submarket of Silicon Valley to Greater than A million sq. ft Inside the Moffett/Sunnyvale space,” said Brett Munger, chief authorities with CommonWealth, A critical exact property enchancment and funding agency. facebook

The deal represents a huge win for Tishman Speyer, which purchased the campus in April 2021 for $365 million. That represents An eye fixed-popping leap of 93.7% Inside The worth of the 4-constructing website In just Greater than a yr.

Simply a few months later, Tishman landed Fb app proprietor Meta Platforms as a tenant for The complete campus, a deal that was The Most very important office lease in Silicon Valley in 2021.

“Sunnyvale Is An excellent success story,” said Rob Speyer, chief authorities officer with Tishman Speyer. “We’re joyful that CommonWealth Companions has agreed To buy the campus, now absolutely leased to Meta. The sale and the lease show that Silicon Valley stays A worldwide center of innovation.”</…….

Source: https://www.mercurynews.com/2022/06/09/sunnyvale-campus-facebook-meta-real-estate-office-tech-develop-buy

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