Facebook has purchased a 21-building industrial park adjacent to its current Silicon Valley headquarters.
The giant social networking company bought the property from Prologis, the global real estate company announced today.
Known as the Menlo Science & Technology Park, the 56-acre property is located on Willow Road between U.S. Highway 101 and the Dumbarton Bridge in Menlo Park, Calif. Facebook’s current headquarters are located on the other side of Willow Road on Hacker Way.
Prologis has owned the property since 1998 and said it will continue providing “ongoing management services on behalf of Facebook.”
It is not clear exactly how the new property fits into Facebook’s larger real estate plans. It is currently building a new campus on Willow Road. That facility, designed by world-famous architect Frank Gehry, and known as Building 20, is expected to open sometime this spring, replacing the current headquarters. A Facebook spokesperson told VentureBeat that the new property “is in addition to the space Building 20 occupies.”
Facebook paid an estimated $400 million for the new property, reported the The Silicon Valley Business Journal.