Facebook buys fourth property in Bay Area
Prologis has sold the 21-building Menlo Science & Technology Park to social media giant Facebook. Real Capital Analytics estimates the sales price to be $400 million.
The 56-acre industrial park is located south of Facebook’s current headquarters.
According to an exclusive interview with Silicon Valley Business Journal, Facebook has no immediate plans to redevelop the Prologis site, which currently houses a mix of light industrial and biotech companies.
Prologis will provide management services for Facebook.
This is Facebook's fourth property in the Silicon Valley. All of the firm’s properties are relatively close to each other: the former Sun Microsystems campus, which it purchased in 2011 as its first corporate campus in Palo Alto, Calif.; a 22-acre parcel serving as its west campus, which will be Facebook&r