In an apparent embrace of the trend toward remote and at-home work, REI Co-op announced last month that it was looking to sell its newly constructed, and so-far unused, Washington headquarters and campus. This week, the outdoor chain store revealed it has sold the business campus to Facebook.
REI said it completed the sale of its campus — located in the Spring District neighborhood of Bellevue, Wash. — for $390 million to Facebook. The company said Facebook acquired the 400,000 square-foot campus and roughly six acres of land. A remaining two acres of land where REI built the HQ were purchased by site developer Wright Runstad & Company and Shorenstein Properties.
“We first opened our Seattle office in 2010 with three engineers. Our growth over the last decade is a testament to the thriving community and immense talent pool that has welcomed us with open arms,” said Nick Raby, Facebook director of real estate and facilities — North America. “This purchase doubles down on our investment in Bellevue and our commitment to the Pacific Northwest.”