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Google Continues Its Real Estate Buying Binge

| September 23, 2013
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Google's headquarters, and many of its office buildings, are in Mountain View.

Google’s headquarters, and many of its office buildings, are in Mountain View.

Judging by recent acquisitions, Google loves Mountain View.

The Silicon Valley Business Journal reports that the search giant, in its largest property purchase of the year, just paid $235.5 million to acquire a six-building portfolio in Mountain View. This includes two buildings currently leased to another blue-chip corporate tenant, Symantec.

The transaction, which totaled just over 400,000 square feet of office space, is the latest in a string of major leases and acquisitions for Google. Many of those deals have closed in the third quarter as the search giant continues a breathtaking expansion and hiring binge.

The Journal goes on to detail the properties:

  • Mountain View Technology Center, a 131,500-square-foot, two-building project at 313 and 323 Fairchild Drive, for which Google paid $82.2 million, or $625 per square foot.
  • Gateway Center, a 236,400-square-foot project at 401 Ellis St. and 500 E. Middlefield Drive. Google paid $138.8 million, or $587 per square foot.
  • 485 and 495 Clyde Ave., a pair of R&D buildings totaling 64,800 square feet. Google paid $15 million, or $230 per square foot.

Google has leased the Fairchild Research Center since June 2011. Symantec currently occupies Gateway Center, and OpenTV, a television-tech company, is the main tenant in the Clyde Avenue buildings.

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Category: Economy, Housing

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