LinkedIn Expands to 312K SF at Empire State Building
By Rebecca Baird-Remba July 5, 2018 3:45 pmreprints
LinkedIn is growing once again at the Empire State Building.
The career-oriented social network inked a deal to add 30,165 square feet on the 27th floor of the iconic skyscraper at 350 Fifth Avenue, bringing its footprint in the building to 312,947 square feet. Asking rent in the seven-and-a-half-year deal was $72 a square foot, according to The New York Post, which first reported on the transaction.
LinkedIn already holds down 90,000 square feet on the third floor, where it has a cafeteria, studios, conference rooms and offices, along with space on the 22nd through 28th floors. The 27th-floor lease helps make its space contiguous, per the Post. The company’s Empire State Building offices host 1,000 employees out of the company’s 10,000-strong workforce.
Landlord Empire State Realty Trust handled the deal in-house with a team comprised of Thomas Durels, Ryan Kass and Shanae Ursini. And CBRE (CBRE)’s Sacha Zarba and Lauren Crowley Corrinet represented LinkedIn in the transaction. An ESRT spokeswoman declined to comment, and spokespeople for CBRE didn’t immediately respond to a request for comment.
The lease marks LinkedIn’s sixth expansion since it moved into the 102-story Art Deco skyscraper in 2011. Other tenants in the 2.2-million-square-foot structure include construction giant Skanska, radiation therapy software developer RaySearch and architecture firm Corgan, plus retailers like Starbucks, Tacombi and Chop’t.