Silicon Valley technology giant Google LLC has reportedly purchased a large office park near its Mountain View headquarters in a massive $1 billion deal.
Adding the latest billion-dollar land purchase, the company has spent over $2.8 billion over the previous two years to acquire properties in California’s San Jose, Mountain View and Sunnyvale regions.
According to a report by the San Francisco Chronicle, it was confirmed that the company purchased the 12-building complex of Britannia Shoreline Technology Park with a total area spanning over 795,663 sq. feet. With this purchase, the company is now responsible for the biggest and second-biggest real-estate acquisition in 2018 across the U.S., the first one being its $2.4 billion purchase of the Chelsea Market in Manhattan, an office & a retail complex located next to its offices at 111 Eighth Ave.
As per the latest deal, the company is buying the property that it was already leasing, and Google was the main tenant of the Britannia Shoreline Technology Park. Therefore, the company would not have to worry much about the logistics of shifting equipment and personnel to the offices.
Earlier in November, the company also agreed to pay out an additional sum of about $110 million to acquire about 10.5 acres to construct a new Google campus in downtown San Jose. Moreover, the company could possibly be purchasing an additional 11 acres, the City council would be voting on the plans early on in December.
This year has reportedly been a big one for the company as it has been keen on purchasing more real-estate to expand its footprint both inside and outside the Silicon Valley. While the company confirmed its latest $1 billion purchase, it reportedly declined to make any further comments on the matter.
According to reports, apart from the several land purchases, the company has also signed a leasing agreement for a massive new office space located in downtown San Francisco.