AlphabetInc. unit GoogleInc. and LinkedInCorp. struck a property swap deal that covers 1 million square feetof existing buildings and 2.4 million square feet of future developmentcapacity, in Sunnyvale and Mountain View, Calif., the Silicon Valley Business Journal reported July 12.
As part of the deal, the companies will exchange several leasedand owned pieces of land, including LinkedIn's current headquarters.
LinkedIn will acquire two Google properties 700 and 800 EastMiddlefield in Mountain View, covering more than 28 acres and 460,000 squarefeet of building area, and assume Google's lease of 950 and 1000 Maude inSunnyvale, totaling 285,000 square feet.
Meanwhile, Google will acquire LinkedIn-owned land nearNorth Bayshore, including the Lester Industrial Park, and assume LinkedIn'slease for 370,000 square feet on Stierlin Court in Mountain View's NorthBayshore.
In June, Microsoft Corp. agreed to buy LinkedIn for $196 per share in an all-cashdeal valued at$26.2 billion, inclusive of LinkedIn's net cash.