DiNapoli aims for another home run with new Sunnyvale project next to LinkedIn

John B. DiNapoli

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Nathan Donato-Weinstein: Real Estate Reporter- Silicon Valley Business Journal; Email | Twitter

San Jose-based J.P. DiNapoli Cos. is at it again.
A year after signing LinkedIn Corp. to the biggest build-to-suit lease deal of 2012, DiNapoli has submitted early planning applications to the city for not quite 500,000 square feet of Class A office space just across the street from where the business-networking company's new campus is going up.
If approved, the project would rival in footprint the 587,000-square-foot LinkedIn project at 555 N. Mathilda Ave. in Sunnyvale. DiNapoli entitled that project last year, then sold it to Kilroy Realty Corp. Today it is well on its way to completion, with steel having "topped out," or reached its highest point, in recent weeks.
The new project submittal is the latest example of mushrooming developer interest in the city's Peery Park area as the city's vacancy rate tightens. In addition to DiNapoli, other land owners, including St. Jude Medical Inc. and Christensen Holdings, have signaled interest in redeveloping or expanding their sites as part of a new specific plan that would allow more intense uses on the land.
"Sunnyvale continues to attract projects," said Economic Development Director Connie Verceles on Thursday. "We're working with our existing businesses to help them grow in Sunnyvale."

DiNapoli's new bet

DiNapoli Companies' John B. DiNapoli declined to comment, and it is still early in the development process. But city records show DiNapoli is seeking review for the design of a six-story, 233,400-square-foot building with a four-level parking structure at 767 N. Mathilda Ave. That site currently encompasses the Palladium night club and Shooters Bar and Grill.