The 57-acre campus in Menlo Park located just at the foot of the Dumbarton Bridge, which at one point wast the headquarters of Sun Microsystems, has been home to the social media giant since 2011. At the time of its move, Facebook was lauded for its move from the tony Stanford Research Park where it had been headquartered earlier to a location east of US Highway 101. The move was in many ways transformative for the neighborhood, and once Facebook set its roots in the area and started acquiring surrounding properties, it was obvious that this Peninsula city will be changed forever.[contextly_sidebar id=”oAARfhzJw3IUUI9U4mm3OPZTxV2TysrS”]According to reports from the Silicon Valley Business Journal, Facebook had just reached the end of an option to renew its lease at the property and instead decided to purchase the campus. According to public documents, in a transaction worth $202,358,000, Facebook acquired the Menlo Park property, adding to its growing footprint in the city. The seller was an entity associated with RREEF America.
The acquisition comes on the heels of several other large transactions, including a September 2014, $101 million acquisition of the TE Connectivity campus just next door. The expansion entails redevelopment of 58 acres to create approximately 983,000 square feet of office space and a 200-room, 175,000-square-foot limited-service hotel.
Just up the street from the former TE Connectivity campus is a residential development, Anton Menlo, which is a 394-unit apartment complex that Facebook is co-developing with St. Anton Partners. The two firms are putting $120-million to develop the KTYG Group-designed 630,000 square-foot rental property located at 3639 Haven Ave.
Facebook has staked in claim in Menlo Park and is intending to keep its feet firmly planted the city. It is a company that continues to make an impact on the Bay Area. As of December 31, 2015, the company had 12,691 employees, according to its public filings. That figure grew nearly 38 percent from a year earlier when the firm reported it had 9,199 employees.