SUNNYVALE — Meta, a tech titan whose apps include the Facebook social network, has completed a huge lease in Sunnyvale and has taken all of a modern office campus in that city.
The rental deal becomes a big-time win for Tishman Speyer, a veteran and savvy developer that just seven months ago bought the campus, which features four buildings and enticing open space amenities.
Meta has leased 719,000 square feet at the campus, located near the corner of Crossman Avenue and Caribbean Drive in northern Sunnyvale and also fronts on East Java Drive.
“We are pleased that Meta has chosen Tishman Speyer and our Sunnyvale campus,” said Rob Speyer, chief executive officer of Tishman Speyer.
Newmark commercial real estate brokers Phil Mahoney, Michael Saign and Jon Mackey represented Tishman Speyer in the leasing deal, which Tishman Speyer said it believes is the largest commercial real estate lease in the nation during 2021.
Meta’s lease counters gloomy prognostications that tech companies would flee Silicon Valley and tech firms intended to focus on letting employees work from home rather than return to their offices.
“Silicon Valley remains the global center of innovation and its importance will continue to grow even as other innovation hubs emerge,” Speyer said.