Facebook closes on 260K sf at the Brickyard
The social media company will expand its current space fivefold
Mark Zuckerberg and The Brickyard (Credit: Getty Images)
New year, new digs.
Facebook has closed a deal to occupy 260,000 square feet of office space at Tishman Speyer’s Brickyard campus in Playa Vista, expanding its presence in the burgeoning tech neighborhood fivefold.
The company plans on moving into the office development from a nearby space at 12777 West Jefferson Boulevard in the next few months, the Commercial Observer reported. It already occupies a 50,000-square-foot space at the two-building site.
The Real Deal first reported in July that Facebook was close to signing a deal. The tech firm was originally in talks to lease 120,000 square feet at the Tishman Speyer-owned complex, but boosted its requirements during ongoing negotiations.
With a 260,000-square-foot lease, Facebook would be taking nearly 60 percent of the 425,300-square-foot campus, located at 12105 and 12126 W. Waterfront Drive. Other tenants at the campus, designed by Gensler and Michael Maltzan, include Loyola Marymount University, which leased 50,000 square feet for its School of Film and Television early last year.
Facebook’s recent deal comes on the heels of another major expansion by a competing tech firm — Google. The company recently tripled its footprint in Los Angeles after moving into the 450,000-square-foot Spruce Goose hangar in October.
In Playa Vista, the firms are joining several other tech companies including Belkin, YouTube and Yahoo. [CO] – Natalie Hoberman
Source: The Real Deal Los Angeles