Rocco Penn A tech blogger, social media analyst, and general promoter of all things positive in the world. "Bring it. I'm ready." Find me on Media Caffeine, Twitter, and Facebook.

Google acquires more premium office space in Redwood City

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Google reportedly purchased six office buildings from Starwood Capital Group LLC and Blackstone Group LP for $585 million, according to Bloomberg. The facilities are located at the Pacific Shores Center office park in Redwood City, California and are about 11 miles away from the search giant’s Mountain View headquarters. A recent financial report from Google discreetly references a real estate deal for the same sum, but didn’t disclose specific details about the deal. Additionally, the filing also revealed that the company committed to nearly $1 billion in office lease agreements through 2028.

Google Inc. is accelerating a real estate deal spree, spending $585 million to buy more than half of a Silicon Valley office park and agreeing to lease an entire campus in development to make space for its growing workforce. The owner of the world’s largest search engine bought six office buildings at Pacific Shores Center in Redwood City, California, from Starwood Capital Group LLC and Blackstone Group LP. (BX) It also plans to occupy all of Moffett Place, a six-tower development on 55 acres (22 hectares) in nearby Sunnyvale, according to Meghan Casserly, a Google spokeswoman. Google, based in Mountain View, has spent billions on property leases and purchases as it expands hiring and makes acquisitions. The company said in its quarterly report filed yesterday that it signed office leases for a total commitment of about $1 billion through 2028 and bought land and buildings for $585 million, without disclosing details.

 

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Rocco Penn A tech blogger, social media analyst, and general promoter of all things positive in the world. "Bring it. I'm ready." Find me on Media Caffeine, Twitter, and Facebook.

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