Facebook Inks Mega-Lease at Burlingame Point

BURLINGAME, CA—Burlingame Point, an approximately 803,000-square-foot office campus currently under construction, has finalized an agreement with Facebook to lease the entire project. Facebook first publicly announced the lease was in negotiations to the Burlingame Planning Commission in August and the lease was fully executed late last year.

Situated on 18.13 acres on the edge of the Bay, Burlingame Point is an office development by Kylli, a wholly owned subsidiary of China-based Genzon Investment Group Co. Ltd. Burlingame Point will execute on Burlingame’s intent to activate its waterfront.

In addition to four new class-A office buildings with Bay views, the project will include public amenities such as an improved Bay Trail, a pedestrian promenade, and a safer roadway for cyclists and motorists. Fisherman’s Park also receives a facelift as a result of the project.

Mike Moran and Clarke Funkhouser of Cushman & Wakefield represented Kylli in the transaction. JLL represented the tenant.

“Now that construction is well underway, it is more evident that this project will be an exceptional example of the forward-thinking of both Kylli and their world-class team of partners,” says Funkhouser. “Believed to be one of the largest lease transactions ever on the San Francisco Peninsula, the project scale, location and quality were all factors that helped to solidify this lease.”

Expected to open in 2020, Burlingame Point is the first class-A office campus developed by Kylli in the Bay Area. It also owns 225 Bush, the former Standard Oil building in San Francisco, and 43 acres in Santa Clara currently going through re-entitlement for a large mixed-use office, retail and residential development.

“We couldn’t be more excited that one of the world’s leading technology firms has selected Burlingame Point to expand their Northern California footprint,” Moran said. “This is a testament that strong design elements do make a difference to the discerning tenant.”