Facebook has signed a lease with landlord Vantage Property Investors to occupy the 35,000 square feet of space at 12777 West Jefferson Boulevard in Playa Vista, Los Angeles.
The site is under construction. The social media giant will move into the five-building, 250,000-square-foot office campus in the Spring or early Summer, sources said.
The current asking rate of a lease at Playa Jefferson place is about $1.5 million a year. However, the lease was a bit lower when it was signed before the new year. Today, the rents are now higher, and this is the only space that has remained unclaimed on the campus.
Back in 2011, it was reported that Facebook had signed a letter of intent to take a significantly smaller 8,000 to 15,000 square feet of space at the Campus at Playa Vista. But the company will now move out of that space to a much bigger place.
The brokers for the lease deal are Peter Best, Lisa St. John and Owen Fileti of L.A. Realty Partners.
The landlord, the brokers and Facebook could not be reached for comments.
The Menlo Park-based social media giant will be moving into a sprawling new office in Playa Vista, Los Angeles sometime in the middle of this year.
Facebook's new L.A. home, known as Playa Jefferson, is still under construction, but the Zuckerberg team is expected to move in sometime this 2016. The company will be leaving behind their much smaller place at The Campus.
According to the website of Playa Jefferson, the entire campus, designed by architecture firm Gensler, will feature four big buildings, a total of 200,000 square feet, a 50-inch glass atrium, and a beautiful green-friendly landscaping. The place will also feature plenty of indoor and outdoor common spaces, bike racks, and parking areas for food trucks.
The rent is slightly lower as the lease was signed in 2015, just before the new year.
