Facebook’s newest office complex in Seattle’s bustling South Lake Union neighborhood sold for a whopping $415 million last week.
Ponte Gadea, Spanish billionaire Amancio Ortega’s real estate investment business bought the two-building Arbor Block complex from the real estate arm of the late Paul Allen, according to property records. The two buildings, just a stone’s throw away from Amazon’s headquarters, opened in May and September and have room for roughly 2,000 people combined.
In September, Facebook said it had 5,000 employees spread across 18 offices in the Seattle area. Facebook landed in Seattle in 2010, and it was one of the first companies to open an engineering center to tap into the area’s technical talent base.
Outside of its HQ in Menlo Park, Calif., Facebook’s next-largest outpost is in Seattle, where it has added about 2,000 employees since 2018. The Seattle office’s areas of focus include ads, analysts, gaming, groups, Messenger, and others.
Facebook is also growing rapidly in nearby Bellevue. The company just scooped another building in the burgeoning Spring District complex.
Earlier this year, Facbook said it had 2.7 million square feet of office space across the Seattle region. That included the Arbor Blocks, some of the Spring District buildings and a growing campus in Microsoft’s backyard of Redmond, Wash. for Facebook Reality Labs, the virtual/augmented reality unit that also includes Oculus Research.