Facebook Leasing New Office Space From Kylli in California -- Update

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By Maria Armental and Stephen Nakrosis

Facebook Inc.'s augmented and virtual reality division is expected to move into new Bayfront office space in what is being billed as one of the largest lease deals on the San Francisco Peninsula.

Menlo Park, Calif.-based Facebook signed a long-term lease for Burlingame Point, a roughly 803,000-square-foot office campus under construction in nearby Burlingame, midway between San Francisco and Silicon Valley.

A company representative declined to comment on the length of the lease.

The campus, expected to open in 2020, would house Facebook's AR/VR division, which currently employs some 3,000 workers.

"The new state-of-the-art space will give our team room to grow, innovate, and continue to scale AR, VR, and consumer hardware technologies to people around the world," a company representative said in a statement.

Burlingame Point, developed on a former drive-in site by China-based Genzon Investment Group Co.'s Kylli, sits on more than 18 acres on the edge of San Francisco Bay.

Cushman & Wakefield PLC represented Kylli and JLL represented Facebook.

Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

January 22, 2019 20:04 ET (01:04 GMT)

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