LinkedIn Buys its Headquarters Campus for $323M

LinkedIn is no longer a tenant at 950, 1000 and 1020 W. Maude Ave. with its recent acquisition of the three assets for $323 million. The seller was a Deutsche Bank entity.

The class-A buildings totaling nearly 290,000 square feet were originally built in 1999 on 10.04 acres. The social media firm assumed leasing for the single-tenant buildings in 2016 as part of a swap with Google. In that transaction, LinkedIn acquired 28 acres and Google received 10 acres, both in Mountain View.

The largest first quarter Silicon Valley sale transaction was Brookfield Properties’ acquisition of two buildings in Mountain View totaling 457,806 square feet, according to CBRE.

San Jose was recently named the number one market for office development opportunities in CBRE’s inaugural U.S. Development Opportunity Index. The report ranked the top 50 U.S. markets by population based on four performance categories: construction costs, fundamental strength of existing supply, prior cycle performance and property forecast. San Jose’s top ranking for office construction was helped by its balanced supply pre-pandemic. The market’s office inventory has increased steadily since 2010, and strong preleasing for office buildings under construction (62 percent) points to a fundamentally healthy future for new additions, says CBRE.