Facebook upsizes at Vornado’s 770 Broadway
Company adding nearly 300K sf in office building
Facebook is expanding once again at Vornado Realty Trust’s 770 Broadway.
The company, which is now known as Meta Platforms, is adding approximately 300,000 square feet at the office building, Bloomberg reported. The expansion brings the company’s footprint to more than 800,000 square feet at the 1 million-square-foot building.
The company is taking space formerly leased by Verizon, according to Bloomberg. Details about the length and cost of the lease were not reported.
The California-based company is very familiar with the building, which sits five blocks south of Union Square. In 2018, the company then known as Facebook signed a lease for 78,000 square feet at the building, expanding its footprint to 513,000 square feet in the building.
It was reported in September Meta was looking for more office space in the city. One of the possibilities floated was an expansion of about 300,000 square feet at 770 Broadway, which is ultimately what happened.
The Midtown South building was the site of Manhattan’s last Kmart, which closed last year. The store will be replaced by Wegmans. The regional grocery chain aims to open its 82,000-square-foot space, its second in New York City, in the second half of 2023.
The expansion is just one of Meta’s recent moves for more office space across the country.
Late last year, Meta signed more than 1 million square feet of new leases in the Bay Area in Burlingame and Sunnyvale. One of the leases it signed was believed to be the single largest private sector office lease of the year in the country.
Earlier this year, Meta leased all of the office space in a downtown Austin building set to be the tallest in the Texas capital. It rented 589,000 square feet across 33 floors, under construction at 400 West Sixth Street.
[Bloomberg] — Holden Walter-Warner