Facebook Is Moving To Former Sun Microsystems HQ
Facebook has announced that it will move into the former Sun Microsystems headquarters in Menlo Park, California through a sale-leaseback transaction.
Facebook has announced that it will move into the former Oracle-Sun Microsystems headquarters in Menlo Park, California through a sale-leaseback transaction.
Oracle, the parent of Sun, still occupies the property that Facebook will enter into a lease 15-year lease with the option to purchase after five years.
The social network didn’t say whether this type of transaction resulted from Goldman Sachs’ advice, but surely the bank must have at least approved of the sale-leaseback as a way to minimize risk — especially considering that Facebook is actually buying adjacent properties as well.
Yes, Facebook is also buying real estate adjacent to the Oracle-Sun property, at 312 and 314 Constitution Drive, a 22-acre tract connected to the campus by an underground tunnel going under the Bayfront Expressway.
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