Facebook apparently plans to do some more growing in the future. The world’s largest social network has signed a deal to buy a big commercial property in Menlo Park, not far from the existing complex that Facebook took over from Sun Microsystems in 2011.
The new land covers about 60 acres and is adjacent to the new West Campus site that Facebook is currently developing next door to the sprawling Sun property. Facebook still hasn’t completely filled the Sun complex, but its workforce has grown tremendously – it’s now more than 6,800 people – since moving there less than three years ago.
News of the real estate deal broke late Friday in the Silicon Valley Business Journal. A Facebook spokesperson confirmed the purchase to us in a brief statement that said:
“The adjacent property we’ve agreed to purchase is an investment in our future. We have no immediate plans to develop the property.”
The new site is currently home to ten buildings and about 600 employees of TE Connectivity, a Swiss electronics manufacturer that has its main US office in Pennsylvania. But the property could house more people; it’s about the same size as Facebook’s main campus on the old Sun site, and nearly three times as big as the planned West Campus.
TE Connectivity’s Jane Crawford told us the deal with Facebook includes a “multi-year” leaseback provision that will allow TE to remain there for some time, while it looks for another site in Silicon Valley.
“We fully intend to stay in this region. It’s an important hub for our business,” said TE’s Jane Crawford.
Neither company disclosed a price or other terms for the sale.
(Photo of Facebook sign in front of main campus by Kirstina Sangsahachart/Bay Area News Group)