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384K-SF Facebook Lease Signals Seattle Expansion

Facebook leased the under-construction, $246 million, 383,900-square-foot Arbor Blocks in Seattle, just months after opening in a 335,000-square-foot office building on Dexter Avenue. Vulcan Real Estate is developing Arbor Blocks, which is on 8th Avenue, between Harrison and Thomas Streets, and is about half a mile from the company’s just-opened office building. Facebook could move into the two six-story office buildings by Q3 2018.

Vulcan acquired the site for $8.5 million in 2000. At the time, the acreage contained warehouses, a parking lot and former library building, that is now being demolished.

The Menlo Park, CA-headquartered Facebook opened its first office in Seattle, hiring a handful of employees. The Seattle area now has Facebook’s largest engineering outpost outside of its Silicon Valley headquarters. The two locations could eventually employ 4,000 locally.

Read More at Seattle Times

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