LinkedIn, not Apple, takes big Peery-Arrillaga lease in Sunnyvale

Vicki Thompson

Remember this? It's the old post office at 580 North Mary Ave. in Sunnyvale. Peery-Arrillaga is building a big office project there, and LinkedIn has agreed to take it.?

Remember last year, when we told you that Apple Inc. was going into the 125,000-square-foot office building that Peery-Arrillaga was building on the former US Post Office in Sunnyvale?

Well, here's an update. The actual tenant? It's not Apple. It's LinkedIn.

Sources with direct knowledge of the deal say the business-networking juggernaut has signed a long-term lease with Palo Alto-based Peery-Arrillaga for the building at 580 N. Mary Ave., which is deep into construction. The transaction is also listed as one of the top lease deals of the second quarter in the latest brokerage report from Cornish & Carey Commercial Newmark Knight Frank.

The spot at the corner of North Mary and West Maude avenues is just a skip away from where Kilroy Realty Corp. is building LinkedIn's new 587,000-square-foot campus at 555 N. Mathilda Ave. The deal with Peery-Arrillaga shows LinkedIn's appetite isn't sated by that project, which is slated for completion by late 2014.

We'd love to know what happened, if indeed Apple was slated to take the space. LinkedIn declined to comment, as did Peery-Arrillaga.

But fear not. Apple isn't all of a sudden souring on Sunnyvale. The company recently leased property on DeGuine Avenue, which you can read about here.

For its part, the US Postal Service in May of last year leased a 34,440-square-foot space at 209 E. Java Drive in Sunnyvale. The USPS had leased the 50,000-square-foot building at North Mary since 1975, but Peery-Arrillaga exercised a termination agreement when it opted to redevelop the site.

Companies: AAPL, LNKD

Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.

Source: http://feedproxy.google.com/~r/vertical_50/~3/BUyk_ApiagY/linkedin-takes-big-peery-arrillaga.html

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