Facebook Takes All of WeWork’s 456,760 SQFT Subleased Space at The Village of San Antonio in Mountain View

Moffett Towers II, Sunnyvale, Jay Paul, Park Tower, San Francisco, Sobrato Organization, Fremont, Peery Arrillaga, Fremont, Stanford Research Park, Google, Village at San Antonio Station, Microsoft, LinkedIn, Facebook, WeWork, Merlone Geier

By Vladimir Bosanac

Facebook cannot stop growing, it appears, and it’s taking additional space in Mountain View, in the second of the two buildings that WeWork had subleased from LinkedIn in October of last year. The social media giant will now occupy the full 456,760 square feet spread across two buildings in the Merlone Geier development that was initially leased to LinkedIn, according to Facebook’s Corporate Communications Manager, Jamil Walker. Previously, Facebook leased just one of the buildings, the building located at 401 San Antonio Road, which was just over 200,000 square feet.

According to sources with knowledge of the deal, WeWork has a 17-year term at the property, 12 of which are guaranteed by Microsoft, LinkedIn’s parent. The Facebook deal is an 8-year deal, which the social media company has an option to cancel after year 5.

The Village at San Antonio Station is a mixed-use development in Mountain View that sits on the southeast side of San Antonio Road just north of El Camino Real. The project is part of a 56-acre development that includes residential buildings, retail, hospitality and office properties. The two, six-story buildings offer a total of 456,760 rentable square feet with a potential to expand to 556,000 square feet in the future. The entire development offers over 20 restaurants, a 330-unit Carmel the Village apartments and a 168-room Hyatt Centric Village Hotel and Conference Center. The complex also has an eight-screen cinema, as well as two 24-hour fitness centers.

680 additional residential units are under construction in the area, as well as over 300 units planned across California Ave.

The proximity of the development to other corporate users offers some indication of the buildings’ overall opportunity. Google has a property just blocks away from the development, and the Stanford Research Park is just minutes to the north on El Camino Real.

The move into Mountain View follows an incredible expansion of the company across the entire region. Just earlier this month, Facebook leased 750,000 square feet in Fremont in a complex owned by Peery Arrillaga. The expansion into Fremont was not unusual for the company. Anecdotally, it is known that the company has been using the hotels in Newark extensively for its employees visiting from other locations. The proximity to housing in Fremont is also attractive as the city looks to create a viable downtown and add thousands of housing units, including a new school, which broke ground in October.

Facebook’s leasing across the Bay Area only this year includes the lease in Fremont, which was followed by a lease covering 750,000 square feet in San Francisco’s Park Tower, over 200,000 square feet in first building at The Village of San Antonio in Mountain View, nearly a million square feet at Jay Paul’s Moffett Towers II project in Sunnyvale and 100,000 square feet from Bohannon Development in Menlo Park. In December of 2017, it also leased 190,000 square feet from the Sobrato Organization in Fremont, which was its first foray into the city across the Bay.

West Coast Commercial Real Estate News