July 13, 2016 Comments Off on Blockbuster Property Swap Ends Google, LinkedIn Stalemate Views: 397 Bay Area, California, California News, West

Blockbuster Property Swap Ends Google, LinkedIn Stalemate

Google Inc. and LinkedIn Corp. struck a unique land swap arrangement that reshapes the Silicon Valley footprint of each company, and ends years of battles over respective development plans. The blockbuster deal involves some one million square feet of existing buildings, including LinkedIn’s Mountain View HQ, and 2.4 million square feet of planned development.

Both are seeking to bring together multiple, split campuses. The agreement gives Google control over land in North Bayshore expected to usher in new phases of development. LinkedIn gains property in Mountain View and Sunnyvale, which will allow it to build out a cohesive corporate campus sooner than anticipated.

The transaction value was undisclosed but LinkedIn indicated it was fair for each. The remarkable collaboration came after the companies realized precious time and energy was being wasted fighting each other.

Google Gains:

  • Lester Industrial Park, seven-acre industrial park in Mountain View
  • Sports Page property, .75-acre site in Mountain View
  • Caltrans easement at Shoreline Commons
  • Retail building, one-acre site in Mountain View
  • LinkedIn HQ building, 370,000 square feet in Mountain View

LinkedIn Gains:

  • Three office sites totaling nearly 750,000 square feet, including two in Mountain View and one in Sunnyvale.

Read More at San Jose Business Journal

For comments, questions or concerns, please contact Dennis Kaiser

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