Google Shells Out $1 billion to Buy Property Near its Silicon Valley Headquarters

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Google has spent at least $2.83 billion in property acquisitions in Mountain View, Sunnyvale, downtown San Jose and north San Jose alone over the last two years

Continuing its Silicon Valley property acquisition spree, Google paid $1 billion for a new office park near its headquarters in Mountain View, California.

According to the Mercury News, Google is already the primary tenant of the newly acquired Shoreline Technology Park in Mountain View. The acquisition gives Google a 51.8-acre site with 12 buildings.

It is said that the site is larger than the property that accommodates the company’s Googleplex headquarters and also exceeds the size of the parcel across the street where Google is building an iconic “dome” campus that features canopies and tents.

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Including the Mountain View purchase, the search giant has spent at least $2.83 billion in property acquisitions in Mountain View, Sunnyvale, downtown San Jose and north San Jose alone over the last two years.

HCP Inc. sold the property this month to Google

A Silicon Valley Business Journal report said that HCP Inc. sold the property this month to Google.

In a recent filing with the Securities and Exchange Commission, the Irvine-based company revealed that the gains on the sale would be around $700 million.

It may be mentioned that earlier this month, Google agreed to pay an additional $110 million for 10.5 acres for a new campus in downtown San Jose, with the possibility of buying about 11 more acres. The city will vote on the plans in early December.




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