SUNNYVALE >> LinkedIn paid more than $70 million for an office building in Sunnyvale, offering a sign of confidence in Silicon Valley despite uncertainties and job cuts in the tech industry.

The career-oriented social network paid $75.2 million in an all-cash deal for an office and research building at 1022 West Maude Ave., according to documents filed on April 9 with the Santa Clara County Recorder’s Office.

LinkedIn bought the building from Synopsys, another tech company that was no longer occupying the space.

The two-story building constructed in 2001 totals 120,000 square feet and occupies a nearly seven-acre parcel, according to Property Shark.

Fresh signs have emerged lately to hint at a possible recovery in the Silicon Valley office market. For more than a year, sky-high vacancies, slumping rents, and a nosedive in property values have haunted the sector at a time when tech companies have shed jobs.

Some tech companies such as Nvidia have been in expansion mode in the South Bay of late.

However, despite these and other hopeful signs, office space is still being offered for sublease by tech companies that seek to downsize.