REBusinessOnline

LinkedIn Signs Lease Expansion at Empire State Building, Increases Footprint to 501,600 SF

NEW YORK CITY — LinkedIn has signed its eighth lease expansion at the Empire State Building in Manhattan. The deal increases LinkedIn’s footprint by three-and-a-half floors totaling 188,653 square feet. Since 2011, the online job posting and networking platform has grown to 501,600 square feet at the iconic building.

Sunnyvale, Calif.-based LinkedIn has offices in more than 30 cities around the world. The company, acquired by Microsoft in 2016, has more than 15,000 full-time employees. There are approximately 645 million LinkedIn users worldwide.

Empire State Realty Trust Inc. (NYSE: ESRT) owns the Empire State Building, which rises 1,454 feet. Tenants at the property have access to a 15,000-square-foot fitness center, conference center and in-building dining options. With an Energy Star rating of 86, the Empire State Building is in the top 20 percent in energy efficiency among all buildings measured, according to ESRT.

Sacha Zarba, Lauren Crowley Corrinet and Chris Hogan of CBRE represented LinkedIn in the expansion lease. Ryan Kass and Shanae Ursini of ESRT provided landlord representation.

ESRT is a real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York City metro area. The company’s portfolio spans 10.1 million square feet as of June 30. ESRT’s stock price closed at $13.78 on Wednesday, Oct. 9, down from $16.08 one year ago.

— Kristin Hiller

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