Mountain View's LinkedIn has struck a deal to lease a yet-to-be-built campus in Sunnyvale that could accommodate nearly 3,000 employees in a major expansion for the social networking powerhouse.
In a new regulatory filing filed Aug. 22, LinkedIn said it anticipates moving into the new campus in July 2014. The company agreed to a lease that will extend into 2026, according to the filing.
U.S. & World
News from around the country and around the globe
NBC Bay Area first reported that this would happen about a month ago.
"This is wonderful that LinkedIn has chosen to come to the city of Sunnyvale and bring many employees to the city," Sunnyvale Mayor Anthony Spitaleri told the Bay Area News Group on Wednesday. "A lot of major technology companies have expanded and moved into Sunnyvale."
The campus could accommodate 2,900 workers. LinkedIn leased 580,000 square feet at 555 N. Mathilda Ave., about ten miles along U.S. Highway 101 from the new Facebook campus in Menlo Park on Hacker Way.
Some will sure to be concerned that the online business giants will create a headache in the real world for commuters trying to get to their high-tech Silicon Valley jobs.
But that's not the focus LinkedIn wants to dwell on at this point. The company's focus is growth and jobs.
"We needed additional buildings to accommodate the growth of the company, so we lease additional space in Sunnyvale," LinkedIn spokeswoman Erin O'Hara said Thursday morning.
According to the SEC filing, rent for the space will start at $1.8 million a month and rise to $2.5 million a month through the end of 5the 12-year lease term.