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Meta Pulls Out of Mountain View Lease
Facebook parent company Meta has terminated its 457,000-square-foot lease deal at The Village at San Antonio Center in Mountain View, CA. The company had been leasing space from WeWork to house contract employees, but apparently no longer needed the room.
WeWork structured its lease with Meta that included an opt-out clause, which is exactly what Meta decided to do. According to Colliers, the vacancy is the largest one to hit Silicon Valley’s office market in 2022.
Meta’s decision is another blow to the Bay Area commercial real estate market’s office sector, which has been struggling during the pandemic. Major tech companies have been pulling back on deals to curb expenses and adjust to a remote and hybrid workforce. Meanwhile, WeWork has listed the space, located at 391 and 401 San Antonio Road, as “available”.
- ◦Lease
