LinkedIn Buys Global HQ for $323M

LinkedIn’s headquarters at 950 W Maude Ave. Image via Google Street View

Professional networking giant LinkedIn has purchased its global headquarters in Silicon Valley for $323 million, according to public records. The tech firm acquired the Sunnyvale campus from seller RREEF Property Trust.

LinkedIn’s headquarters are located at 950 and 1000 W. Maude Ave., two low-rise Class A office properties that together total 287,644 square feet. Both office properties were built in 1999 and last changed hands when they were purchased by RREEF Property Trust’s parent company DWS for $115 million in 2005 from seller Jay Paul Co., according to CommercialEdge data.

A spokesperson from LinkedIn has not yet responded to a request for comment on the deal.

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LinkedIn has been at its global headquarters since 2016, when it agreed to take over a lease at the West Maude Avenue campus from Google in a 1 million-square-foot real estate swap. The agreement also included LinkedIn taking ownership of two Google properties in Mountain View that totaled 460,000 square feet on more than 28 acres and Google taking over LinkedIn’s 370,000-square-foot lease in the North Bayshore area of Mountain View.

Founded in 2003, LinkedIn has grown into a major tech company with more than 18,000 employees and 740 million members of its site. In 2016, Microsoft purchased LinkedIn in a blockbuster deal for $26.2 billion. In April, Microsoft announced that LinkedIn had surpassed $3 billion in advertising revenue in the past 12 months.

This is a developing story. Stay tuned for more updates.