Kilroy Realty Pays $315M for Future LinkedIn Campus
New Owner To Develop, Manage Four-Building Development
December 24, 2012
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.
Attorneys with the law firm Allen Matkins represented both Kilroy Realty and the seller.
See CoStar Comp ID # 2624234 for more information about this transaction.