Menlo Park sites leased to Facebook get half-billion-dollar investment – East Bay Times

MENLO PARK — A big investor has bought a stake in a large office campus in Menlo Park that’s leased to Facebook in a deal worth well over a half-billion dollars, according to federal and local public documents. The deal, valued at roughly $540 million, involved the three buildings in the under-construction Menlo Gateway office campus in Menlo Park, the public records show. An affiliate of Canada-based Brookfield Asset Management, a big real estate investment firm, bought a 49% interest in the tech campus, according to a public property document filed on Nov. 30 with the San Mateo County Recorder’s Office. The seller of the stake was Alexandria Real Estate Equities, a Dec. 1 filing by Alexandria with the Securities and Exchange Commission shows. The Menlo Park office complex totals 773,000 square feet, the Alexandria SEC filing states. With the recent transaction, Bohannon Office Investors retains a 51% interest in the three-building campus. All three of the buildings are eight stories high. Facebook had previously struck a deal to rent the entire tech campus, which has addresses of 100 Independence Drive, 101 Constitution Drive and 155 Constitution Drive. The building on Independence Drive is fully completed and the two buildings…
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