Wednesday, December 26, 2012

LinkedIn Campus Sells for $315M

Kilroy Realty Corp., a Los Angeles-based commercial real estate investment firm, acquired a fully entitled 12-acre site in Sunnyvale, CA, which will be the future home of LinkedIn Corp. JP DiNapoli Cos. was the seller. 

Kilroy will develop, own and manage the four-building project, which is expected to be completed in late 2014. The sales price of $315 million included development costs. 

The new LinkedIn campus will consist of two six-story office structures, each measuring 212,322 square feet; a 156,765-square-foot, five-story office building; and a 6,000-square-foot amenities building. LinkedIn preleased the buildings for a 12-year term.

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