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Facebook expands office space in Menlo Park (again)

Facebook to lease 210,000 square feet from neighbor, Intuit

Facebook has leased three buildings from its Menlo Park neighbor, Intuit, the financial software company behind Quickbooks and TurboTax. The buildings, located at 180 Jefferson Dr. in Menlo Park, will add 210,000 square feet to Facebook's sizable office stock in Menlo Park, according to the Silicon Valley Business Journal in a Dec. 7 story.

Intuit spokesperson Kali Fry said the company sub-leased the Menlo Park buildings to Facebook in order to focus on its other local operations, including its headquarters in Mountain View. New office space there and in San Francisco is expected to become available over the next year. "We're continuing to make investments in these locations to help us attract and retain top talent in the Bay Area," she said.

Facebook did not say what it intends to do with the new space, or when it will be occupied.

The company's office space in Menlo Park has been on an ambitious growth trajectory since Facebook moved to the city in 2011.

Here's an overview of Facebook's current stock of land and office space in Menlo Park:

● In February 2011, Facebook entered a 15-year lease on office space formerly occupied by Sun Microsystems and Oracle and located on 57 acres at Willow Road east of Bayfront Expressway. Facebook began its Menlo Park operations there. The property contains approximately 1 million square feet of office space.

● Before moving to the new location, Facebook purchased in December 2010 two lots totaling 22 acres on Constitution Avenue in Menlo Park, across Bayfront Expressway from the first property. In March 2015, the new Building 20 or MPK 20, designed by Frank Gehry, was opened, adding 430,000 square feet of open office space.

● In June 2014, Facebook purchased 59 acres at the former TE Connectivity site next to the MPK 20 property. The company plans to replace existing structures with two new buildings – Building 21 (523,226 square feet) and Building 22 (453,417 square feet) – and possibly a hotel. Building 23 (180,000 square feet) is a renovation of an existing building at 300 Constitution Drive, scheduled to be completed by the summer of 2016. The rest of the project is undergoing an environmental impact review with the aim of receiving City Council approval by July 2016. Mr. Gehry is the designer of the project.

● In February 2015, Facebook purchased the 56-acred Menlo Science and Technology Park, which remains under the management of its former owner, Prologis, Inc. No plans have been announced for this 21-building industrial park located on Willow Road just west of Bayshore Expressway, but according to a February 2015, ConnectMenlo discussion about the city's general plan update, Fergus O'Shea of Facebook said the company would like to construct up to 2,000 new housing units on the Prologis site, some of which would be below market rate, and up to an additional 1,500 units for interns at the east campus' parking lot. No formal proposals have been made.

As of October 2015, 5,500 of Facebook's 11,000 employees worldwide worked at the Menlo Park offices. By comparison, the entire Belle Haven neighborhood has 5,647 residents.

With the leasing of 210,000 square feet from Intuit, Facebook has about 1.6 million square feet of Menlo Park office space at its disposal, with an additional 1.16 million square feet in the pipeline. All told, that's nearly 2.8 million square feet. Assuming the current ratio of about 300 square feet per employee, that's enough space for about 9,000 employees.

Comments

8 people like this
Posted by resident
a resident of Menlo Park: Belle Haven
on Dec 10, 2015 at 11:47 am

Gentrification, here we come


6 people like this
Posted by Chuck
a resident of Menlo Park: Linfield Oaks
on Dec 10, 2015 at 12:32 pm

I suppose this is good news. However, are we becoming a one horse town? What happens when Facebook moves on or out? I would be happier if FB employed a wider diversity of skills; not everyone is a techie. It would be nice to see well paid jobs across a spectrum of talents and abilities and less emphasis on high tech. (Yes, I know! It's progress and growth, etc., but I don't need to love it all.)


2 people like this
Posted by SteveC
a resident of Menlo Park: Downtown
on Dec 11, 2015 at 1:10 pm

SteveC is a registered user.

Menlo started off as a one horse town. It has evolved into a good size city.


Sorry, but further commenting on this topic has been closed.

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