Another tech giant appears to be opening a store in the heart of the South Bay and could signal a larger post-pandemic return to the office than originally thought.
LinkedIn, the titan of career-driven social media, has acquired a large-scale office complex in its current city of Sunnyvale and has begun renovating one of its main buildings. Meanwhile, LinkedIn is building a brand new one million square foot campus in Mountain View that will become its main headquarters in the coming years. according to Mercury News…
In a cash-based deal, LinkedIn paid $ 323 million for its current headquarters in Sunnyvale, which it previously rented. according to Silicon Valley Business Journal… The offices, located on W. Maude Avenue, have a total floor space of 287,600 square feet, which equates to a purchase price of about $ 1,122 per square foot, according to the Business Journal. LinkedIn’s new one-million-square-foot headquarters in Mountain View will consist of three new buildings combined into a campus with three existing structures.
Conceptual photomontage of the finished LinkedIn Campus in Mountain View. A source: Studios
LinkedIn’s big moves in real estate are a clear sign that office space and large campuses will remain a central part of the tech work culture. “More than a few experts believed that the pandemic and the shift to remote jobs would forever drive tech companies out of their physical innovation hubs that dot Silicon Valley and digital outposts like San Francisco,” writes Mercury News. LinkedIn has nearly doubled its Sunnyvale workforce in the past five years, growing from 1,840 employees in 2016 to 3,549 this year, according to a Business Journal report on data from the City of Sunnyvale.
“Whenever we needed a community partner, they were there,” Sunnyvale Mayor Larry Klein said of LinkedIn in a statement last week, adding that the tech company has made “significant” donations to develop a universal playground. The Business Journal reports that local businesses receive funding in an emergency during the COVID-19 pandemic.
It’s unclear what improvements are being made to LinkedIn’s current Sunnyvale headquarters at 580 N. Pastoria Way in Sunnyvale. The building that LinkedIn leases is 10,900 square feet. “Often times, when an office or retail tenant is doing renovations on a site, it’s an indication that the tenant intends to continue leasing the property,” notes Mercury News.