LinkedIn purchases its Sunnyvale HQ for $323 million

LinkedIn Corp. announced the purchase of its Sunnyvale HQ for $323 million, solidifying its long-term presence in the South Bay.

The company acquired three assets at 950, 1000 and 1020 W. Maude Ave. for a total of 287,644 square feet of office space. According to RMW Architecture & Interior’s website, the campus contains a 500-seat café, 255-seat auditorium and a fitness center.

Prior to the purchase, the company had been leasing the buildings and acquired them from an entity associated with Deutsche Bank.

According to the Silicon Valley Business Journal, LinkedIn has almost doubled its Sunnyvale workforce over the last five years. The company has gone from 1,840 employees in 2016 to 3,549 today.  

The Silicon Valley office market has had a slow start to the year with few transactions. LinkedIn’s purchase, in combination with companies beginning to open their offices again, signals renewed interest in the office market.

LinkedIn extended the ability for the majority of their workforce to work from home until September 7, 2021. The company has also updated their Global Flexible Work Policy, in alignment with Microsoft’s updated policy. The new policy supports a hybrid work schedule and makes working from home less than 50% standard for most roles and focuses on work site needs, work location guidance and flexibility with work hours.