Google and LinkedIn have inked a deal to exchange real estate properties in a vital move to expand both tech firms’ buildings and offices.
Silicon Valley Business Journal reports that the two Internet giants agreed on a property swap to settle a long battle over used and unused square footage in Silicon Valley.
The report says Google and Linkedin shelled out $215 million and $331 million, respectively.
Google will acquire a LinkedIn building totaling 370,000 square feet in the North Bayshore district of Mountain View, CA. It will also get LinkedIn’s development property in the area, with blessing from the Mountain View City Council to build 1.4 million square feet of new office space.
LinkedIn will get two properties totaling 460,000 square feet in Mountain View and two building leases in Sunnyvale that includes the former headquarters of Palm Computing.
The deal benefits both companies, as Google may now finally put its plans to build a futuristic new campus into reality and LinkedIn is closer to its Sunnyvale properties.
Just last year, the online search giant revealed plans to create four new buildings designed by the Bjarke Ingels Group and the Heatherwick Studio.
The original Google blog post outlined the new campus, calling it a visionary workplace that will “blur the distinction between our buildings and nature” and use cafes, trees and bike paths to create a lavish, urban tone to an outdoor setting.
“The idea is simple. Instead of constructing immoveable concrete buildings, we’ll create lightweight block-like structures which can be moved around easily as we invest in new product areas. Large translucent canopies will cover each site, controlling the climate inside yet letting in light and air.”
Last year, Google submitted its proposed plans to the Mountain View City Council, but the latter chose to give most of the North Bayshore property rights to LinkedIn.
The council at that time seemingly sought to diversify the local business footprint. And Google’s experimental new campus had totally unprecedented construction practices, including modular work spaces, huge canopy nets, and massive underground parking lots.
The good news for Google is that it won’t be left behind with its competitors’ visions for a futuristic workplace.
Google execs are most likely eager to use a highly modern office of their own, especially with the Apple spaceship campus close to opening and the new Frank Gehry-designed Facebook warehouse in Menlo Park fully operational.