Monday, September 23, 2013

Google spends 235 million to buy Mountain View pffoces

Google spends $235M to buy Mountain View offices





401 Ellis St. in Mountain View is one of the properties Google bought last week.
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401 Ellis St. in Mountain View is one of the properties Google bought last week.


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Real Estate Reporter- Silicon Valley Business Journal
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In its largest property purchase of the year, Google Inc. has just paid $235.5 million to acquire a six-building portfolio in Mountain View — including two buildings that are 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.
Google made its latest purchase from Equity Office, according to property records filed Friday. The acquired properties include:
  • 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 is already in the Fairchild Research Center, which it has leased since June 2011. But it does not occupy the other spaces. Computer security software pioneer Symantec occupies Gateway Center, and OpenTV, a television-tech company, is the main tenant in the Clyde Avenue project.
It's unclear what Google's plans are for the Symantec-occupied spaces. Symantec leased 401 Ellis St. in 2010, and followed up with 500 E. Middlefield Drive in fall 2011. Google, Equity Office and Symantec were not immediately available for comment.

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Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.

Related links:

Mountain View

Industries:

Technology, Commercial Real Estate



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