John Tenanes, Facebook's real-estate director, said the company leased back the 1-million-square-foot, 11-building campus from real-estate investment-management firm RREEF. About a third of the campus will continue to host Oracle employees for up to a year, Tenanes said. Sources familiar with the deal said RREEF paid about $100 million.
Facebook said it currently has about 2,000 employees worldwide. It plans to move the first 500 Palo Alto employees to Menlo Park by mid-June. The rest should arrive by the end of the year.
Facebook has most recently occupied two campuses in the Stanford Research Park, at 1501 Page Mill Road and 1601 California Ave.
The company also bought two lots on Constitution Drive in Menlo Park near the Sun campus in December. Those lots, along with the 57-acre Sun campus, give Facebook enough space for 6,100 employees.
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