Sunday, July 30, 2017

Signposts: Google Buys $820 Million Worth of Silicon Valley Properties

From the Mercury-News, July 27: 

Google grabs dozens of Sunnyvale properties, signaling a major expansion  
Moffett Park properties valued at more than $800 million
SUNNYVALE — Google has bought roughly four dozen properties in Sunnyvale with a combined value of around $800 million, setting the stage for what may be another major expansion of the tech titan’s Silicon Valley operations.

The properties are located on 13 different streets in a Sunnyvale business area known as Moffett Park, and the move comes as Google also explores a plan to build a massive tech campus in downtown San Jose.

The buildings Google has bought provide combined space of at least 2.3 million square feet, according to this news organization’s review of numerous property brochures and flyers for all of the properties. Google would not disclose its plans for the properties.

“This is a huge land grab,” said Chad Leiker, a first vice president with Kidder Mathews, a commercial real estate brokerage. “It’s a major repositioning of what’s going on in Sunnyvale.”
More than 11,000 Google employees potentially could work in these buildings, if the search giant fills the existing structures without dramatically altering the properties’ configurations....MORE
The "$820" figure came from the Silicon Valley Business Journal who first broke the story.