The big tech giant Meta, owner of Facebook, Instagram, and WhatsApp, is relinquishing its primary office in London, England. The company will incur a contract breach fine of £149 million, approximately US$ 181 million*.

This fact was reported by the Financial Times, which discovered the information after the property owner, British Land, reported a short-term impact on their profits. Meta had occupied an eight-story building located at 1 Triton Square. According to the report, the company will either surrender or sublease 92,903 sqm of office space across Europe, primarily in England and Ireland.

Similar moves are also occurring in the Americas, both in their home country and in Brazil. In 2022, in the United States, Meta surrendered offices in New York and canceled expansion plans in Austin, the capital of Texas.

Data from SiiLA, which monitors major office markets in Latin America, indicates that in Brazil, in the second quarter of this year, the company vacated 9,081 sqm in the Infinity Tower in the Itaim Bibi region of São Paulo after announcing mass layoffs. Currently, the big tech company occupies 21,416 sqm at the B32 – Birmann 32 property on Faria Lima.

The company first occupied space in the Infinity Tower in 2016 with a 851 sqm office and expanded each year until 2019. In the third quarter of 2020, Meta further expanded its occupancy, leasing 11 floors at Birmann 32.

In other Latin American countries, the company's presence is robust. Data from SiiLA shows that in Mexico City, MX, in the first quarter of 2022, Meta leased 4,095 sqm at Torre Virreyes, popularly known as El Dorito, totaling 6,458 sqm of the big tech's occupancy in the development.

Meta is also present in Colombia, albeit on a smaller scale. According to SiiLA data, the company occupies 1,100 sqm at Sequoya Plaza in Bogotá since the third quarter of 2021 when the tower was inaugurated.

Profile of the Properties:

All buildings occupied by the company in Brazil, Colombia, and Mexico are top-tier properties according to SiiLA classification. Birmann 32, where the company's headquarters is located in São Paulo, is an A+ development with an occupancy rate of 95.86%.

In Mexico, Torre Virreyes is also rated A+ with a vacancy rate of 1.52%. The private area of the development is 60,000 sqm. The asset was inaugurated in 2015, and the company shares the space with companies in the finance, technology, and other sectors.

The Colombian headquarters of the company is another A+ building, fully occupied. The asset has 10 floors, where Meta shares space with other technology, energy, and legal firms. Its private area is 9.7 thousand m², and, like developments in other countries, it holds a sustainability certificate.