According to the news on November 27, in an unexpected huge deal, Google spent $1 billion to buy a huge business park in shanjingcheng, the waterfront Technology Park. This is a dizzying acquisition and is considered to be the largest real estate transaction in the bay area so far in 2018. Netizens have expressed that they are really rich and willful.
Google's new move in mountain view means the search giant has spent at least $2.83 billion on property acquisitions in mountain view, Sunnyvale, downtown San Jose and the north since the company began collecting properties for a proposed 'transportation village' in downtown San Jose two years ago.
What's even more surprising is that Google's spending in these four markets has reached $3 billion if we add several government-owned assets that the search giant is about to buy in downtown San Jose and the park that Google plans to buy from trammel crow.
Together with its recently acquired properties, Google now owns nearly 21 hectares of land and 12 buildings, located between 2011 and 2091 stierlin street in mountain view.
In response to Google's $1bn acquisition, Chad leiker, the first vice president of Kidder Mathews, a commercial real estate company, said: 'Wow, what a big deal! This is an opportunity for Google to have more office space near its headquarters. In mountain view city, such office space is less and less. '
The newly acquired shanjingcheng site is larger than the Google plex, the location of Google's headquarters a few blocks to the west, and covers a larger area than the 'dome' Park that Google is building across the street. Philip Mahoney, executive vice chairman of Newmark knight frank, a commercial real estate company, said:
'this is Google's core campus, and they definitely want to own and control it, rather than continue to rent it. '
At present, the layout of the waterfront science and technology park is mainly single-layer and two-layer buildings, with a large number of ground parking lots all over it. Mahoney said: 'the property needs to be redeveloped at a higher density. But it will be a longer-term discussion and process, related to the precise north bank plan of shanjingcheng. 'Google is a major user of shoreline Technology Park. Alexza pharmaceuticals, a pharmaceutical company, is a tenant of Google's facility, according to a field survey.
Since December 2016 at deridon station in San Jose Since the purchase of an ancient Pacific bell tower near the station, Google has spent at least $1.32 billion, directly or through subsidiaries, on Sunnyvale property, $1 billion on mountain view city property, $271.8 million on northern San Jose property and $234 million on central San Jose property.
In addition, Google also agreed to pay $109.9 million for properties owned by the central government of San Jose and $58.5 million for properties owned by trammel crow in the central city, which led to a surge in purchases in the four markets to $3 billion.
A Google representative confirmed the $1 billion purchase price for the waterfront park, but did not comment.
According to Santa county records, Owen based HCP real estate investment company sold its property in mountain view city to Google on November 20. In a regulatory document, HCP said it generated $700 million in sales revenue. The property is valued at $337 million in mid-2018.
The deal also appears to be the largest real estate deal in the bay area so far in 2018. Prior to Google's acquisition, the highest property price paid by Silicon Valley was developer Jay Paul's $284 million acquisition in July of Cityview Plaza office, retail and restaurant building in downtown San Jose.
Google's mountain view deal is also considered the second largest U.S. property purchase so far in 2018, in addition to the deal in New York, but it was also created by Google. In March, Google bought Chelsea market in Manhattan for $2.4 billion.
"Shanjingcheng's recent deal may be an example of the high-density use of Google's land properties, as they have done in other areas, where they have bought a lot of properties," said lake, first vice president of Kidder Mathews, a commercial real estate company. '