Massive Land Swap By Google, LinkedIn Could Pave Way For Mutual Expansion
Google and LinkedIn have reached an agreement to swap properties totaling more than 1 million square feet of existing buildings and 2.54 million square feet in potential development, hitting the reset button on Google’s ambitious plan to expand in Mountain View, CA’s North Bayshore area — and eventually allowing LinkedIn to develop Shoreline Commons, a mixed-use headquarters expansion.
Under the agreement confirmed by a Google global communications and public relations representative, Google will acquire parcels at 1400 N. Shoreline Blvd. at the entrance of North Bayshore, including the Lester Industrial Park, where LinkedIn had planned to build Shoreline Commons. Google also would take over LinkedIn’s lease for 370,000 square feet on Stierlin Court in Mountain View’s North Bayshore, and would acquire the right to purchase the Sports Page property at 1431 Plymouth St.
LinkedIn would acquire 700 and 800 East Middlefield, two large Google properties in Mountain View totaling more than 28 acres, with buildings housing 460,000 square feet, in the agreement first reported this week by the Silicon Valley Business Journal. LinkedIn will also assume Google’s lease of 950 and 1000 Maude Ave. in Sunnyvale near the Middlefield sites, including a 285,000 square feet former computer site near other LinkedIn buildings in Sunnyvale.
Dealing a blow to Google, LinkedIn won Mountain View City Council approval in May 2015 to develop 1.4 million square feet of office space near the entrance of North Bayshore, so the swap would give control of that property to Google, including the Lester Business Park.
Read entire Costar article here.
The Peninsula Industrial Pros 