A company source tells Globest.com the company--which plans togrow from 600 employees to 1,000 by year's end--may ultimatelydecide to maintain some Downtown office space to cover anyoverflow. Some of the company's leaseholds include space at 164 and285 Hamilton Ave., 156 and 151 University Ave., and 500 EmersonSt.

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"While the new building is large enough to hold all of ourcurrent employees, it may not be adequate to keep all of ustogether until we find a permanent headquarters," says a companyspokesperson. "To prepare for this contingency, we expect to retainsome of our current space in downtown Palo Alto as well."

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Its soon-to-be new home base is a former Hewlett-Packardbuilding that later housed HP-spinoff Agilent. The property isslated for eventual conversion to housing under a 2005 agreementbetween the city and Stanford University. A recent leasing flyerfor the building says it could be leased through mid-2013. Theasking lease rate was $1.25 per sf per month, NNN.

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In explaining why it didn't expand Downtown while it sought aheadquarters campus environment, a Facebook spokesperson says thenew space "positions us well to continue looking for a long termcampus solution while also allowing employees to work together asmuch as possible."

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Stanford Research Park is a 700-acre, 10-million-sf developmenton land owned by Stanford University. The park is home to 162buildings housing approximately 150 companies predominantlyscientific, technical and research oriented.

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