SUNNYVALE — A big tech campus in Sunnyvale which is leased to the operator of the Fb application has landed a major actual estate customer in a deal that signifies a Silicon Valley success story.

Moffett Inexperienced, a campus on Crossman Avenue in northern Sunnyvale, has been acquired for $707 million, according to sources with awareness of the transaction.

CommonWealth Associates acquired the campus, which totals 719,000 sq. toes, from Tishman Speyer, according to the vendor.

“This was a persuasive expenditure for CommonWealth Partners, raising our existence in this strategic, higher-progress submarket of Silicon Valley to much more than a million square toes in the Moffett/Sunnyvale location,” stated Brett Munger, main government with CommonWealth, a major real estate advancement and investment decision business.

The deal signifies a massive gain for Tishman Speyer, which acquired the campus in April 2021 for $365 million. That signifies an eye-popping soar of 93.7% in the value of the 4-constructing internet site in marginally far more than a year.

Just a couple of months later, Tishman landed Fb app operator Meta Platforms as a tenant for the total campus, a deal that was the most significant business office lease in Silicon Valley in 2021.

“Sunnyvale is a good accomplishment story,” mentioned Rob Speyer, chief government officer with Tishman Speyer. “We are happy that CommonWealth Associates has agreed to invest in the campus, now fully leased to Meta. The sale and the lease reveal that Silicon Valley continues to be a worldwide center of innovation.”