Located at 2029 Stierlin Ct., LinkedIn has tripled its leasehold since the beginning of the year. In January, it expanded from 22,000 sf in Palo Alto to 38,000 sf in the Stierlin Court building, according to the company's brokerage firm, Cornish & Carey Commercial/Oncor International.
Britannia Shoreline Technology Park sits within the prestigious Shoreline Business Park. Amenities include on-site tennis and sport courts, a baseball diamond, recreational area and free shuttle to the nearby Cal Train station. The lease rate agreed to by LinkedIn was not revealed by either side of the transaction.
In May, publicly held Alexza Pharmaceuticals signed an 11-year lease for 41,290 sf of office and laboratory space in the development, the lease rate for which starts at $30 per sf per year and increases by 3% per year starting in the third year of the lease, according to an SEC filing. The appears to include several months of free rent and a $25-per-sf tenant improvement allowance. Alexza leases a total of approximately 105,000 sf within the park.
HCP, a self-administered REIT based in Long Beach, acquired Britannia Shoreline Technology Park in June 2007 as part of a $2.9-billion portfolio acquisition from Slough Estates USA, a real estate company focused on the Life Science industry. The package included 83 properties totaling 5.2 million sf. The properties are concentrated in the San Francisco Bay Area and San Diego County and include.
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