In addition to nearly a million square feet of office space the city of Menlo Park has authorized Facebook to build, the company has indicated it plans to lease the new eight-story office building under construction by the Bohannon Companies at 100 Independence Drive in eastern Menlo Park.
“We have agreed to terms to a building lease at Menlo Gateway in Menlo Park, CA from Bohannon Development Company and are in the process of finalizing details,” said John Tenanes, Facebook VP, Global Facilities and Real Estate, in a written statement. "Facebook will continue to invest in Menlo Park demonstrating our commitment to the area as an active and responsible community member.”
According to news first published by the Silicon Valley Business Journal, Facebook has submitted an application to the city of Menlo Park to complete tenant improvements on an eight-story, 206,869-square-foot office building under construction at the Independence Drive site.
The office is part of the Menlo Gateway development project of Bohannon Companies; the project includes the 11-story luxury hotel called Hotel Nia, a parking garage and a 40,000-square-foot fitness center. These structures – which constitute the first phase of the development – are expected to be completed by the end of the year.
The second phase of the project will include two other eight-story office buildings totaling 500,000 square feet, at 101 and 155 Constitution Drive, and two more parking garages.
The Silicon Valley Business Journal also cited a source close to the deal saying Facebook is expected to be the tenant at two other eight-story office buildings scheduled for construction in the development's second phase.
David Bohannon II, CEO of the David D. Bohannon Organization, declined to comment.