With only a month left in the year, Tishman Speyer has landed the largest private sector office lease transaction in 2021. Meta signed a 719,037-square-foot lease for the entire Sunnyvale office campus in Silicon Valley.

Tishman Speyer purchased the office campus seven months ago from NetApp, which relocated its global headquarters from Sunnyvale to a 301,019-square-foot space at Santana Row, Federal Realty Investment Trust's mixed-use complex in San Jose, CA. The company sold and vacated the office campus as part of the move.

According to Tishman Speyer President and CEO Rob Speyer, the lease transaction shows that Silicon Valley continues to be an important tech and innovation hub, even following the events of the last year. "Silicon Valley remains the global center of innovation and its importance will continue to grow even as other innovation hubs emerge. We were always convinced that the tech sector would maintain a strong appetite for high-quality collaborative spaces and are excited Sunnyvale will house one of the world's leading companies," he said in a statement.