Facebook Expansion Puts Squeeze On Calif. Multifamily Markets

Law360, New York (June 1, 2012, 8:36 PM EDT) -- Expansion plans for Facebook's 78.9-acre campus in Menlo Park, Calif. — part of which was approved by the city council Tuesday — are driving the multifamily development market and causing land rates to soar as developers scramble for plots to build on, experts say.

With the first part of a two-phase project unanimously approved by the Menlo Park City Council, Facebook is on the path to being able to boost its campus ranks, currently at about 2,200 employees, to as high as 9,400. The influx of...
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