Google buys downtown San Jose fire training site needed for transit village

SAN JOSE — Google has topped the $350 million mark for what
it’s spent to collect downtown San Jose properties needed for the
tech titan’s transit-oriented village near the Diridon train
station, following the purchase of a key property that had been
owned by the city.

In the most recent transaction, Google paid $41.2 million for a
site occupied by a fire training station operated by the San Jose
Fire Department, according to Santa Clara County property

Mountain View-based Google paid cash for the property in the
sale by the city of San Jose, county public records that were filed
June 6 show.

The fire training complex, which includes a burn tower, is
located at 255 S. Montgomery St. just north of West San Carlos

The search giant began to buy sites in December 2016 that it
needs for a huge mixed-use development on the western edges of
downtown San Jose.

Google’s buying activity is occurring in a neighborhood
dominated by an array of vacant properties, old industrial and
commercial sites, retail outlets, nightspots, parking lots, and
office buildings.

Since the purchases began more than two years ago, Google has
paid $360.7 million to buy sites from private property owners and
government agencies that include the city of San Jose.

Google has obtained these parcels through a combination of
purchases made directly by the company or through a real estate
partnership it established with developer Trammell Crow.

The company also has obtained options for future purchases of
sites, including large surface parking lots, and sites currently
occupied by Poor House Bistro, World of Sports, and a church.

The amount spent so far by Google in completed purchases from
the city and affiliated government entities totals $110.3 million,
county documents show.

The transit-oriented community proposed by Google would consist
of office buildings, homes, restaurants, shops, and open spaces
where 25,000 people would work, including 15,000 to 20,000 of the
search giant’s employees.

Source: FS – All – Real Estate News 1
Google buys downtown San Jose fire training site needed for transit village