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December 09, 2017

Google this year to spend more than $1 billion acquisition of multiple Sunnyvale properties

US China Press

According to Santa Clara County property records, December 7 Silicon Valley high-tech giant Google (Google) to 210 million yuan price, completed NetApp in Sunnyvale, South Bay, a property acquisition.

It is understood that this transaction allows Google to get NetApp in Sunnyvale three office buildings and multiple open spaces, two of which are located in East Java Drive, the other building is located on Crossman Avenue, respectively, area of 127,000 square feet, 133,000 square feet and 121,000 square feet.

From the location of the above property, adjacent to or near Google dozens of other properties acquired by Sunnyvale this year. This shows that Google may be creating a small office park here.

According to filings with the Securities and Exchange Commission, headquartered in Mountain View, Google and NetApp in Sunnyvale reached a real estate sales agreement on September 11 this year. However, the SEC does not disclose the details of the transaction in its filings. However, the filing shows NetApp still rented one of the office buildings for some time after the transaction was completed.

Google seems to move quickly in the area of property purchase and expansion. Just before the deal was completed, Google also completed the acquisition of 45 buildings in Moffett Park, Sunnyvale; as early as September of this year, Google also acquired two other smaller units in Sunnyvale building. According to the transaction records, Google has so far acquired more than $ 1 billion in office buildings and land acquired by Google in Sunnyvale in 2017. According to David Vanoncini, a senior vice president and managing partner at commercial real estate brokerage Kidder Mathews, Google has also extended its interest to several Sunnyvale owners to its properties.

However, Google's growing interest is by no means limited to Sunnyvale. For years Google has been buying and leasing properties throughout Silicon Valley. Earlier this year, Google Inc. opened plans to build offices in the Diridon Station neighborhood of downtown San Jose. Google's expansion plans include about 6 million square feet of office and research and development space, can accommodate 15,000 to 20,000 employees. If you reach 6 million square feet, here will become the world's largest Google office park. Currently, the Googleplex, located in Mountain View, is the company's largest office park in the United States, totaling approximately 3.1 million square feet. And Google's ongoing plan includes leasing a number of properties near the Mountain View headquarters building to expand the headquarters office park.

For the full story, go to US China Press.

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