Google widens Mountain View footprint with building deal

MOUNTAIN VIEW — Google widening its Mountain View footprint
with a property purchase that has arrived on the heels of two big
office leases at sites a short distance away.

The search giant has bought a one-story office building totaling
34,000 square feet at 650 Clyde Court.

Earlier this year in other Mountain View deals, Google leased
151,000 square feet at 620 National Ave. and another 190,000 square
feet at Clyde Ave.

All three office sites are on the south side of U.S. 101. On the
north side of Highway 101, in areas near the company’s north
Mountain View Googleplex headquarters, Google has been even busier
with an array of property purchases and development ventures.

Among the new development efforts: Google is constructing an
iconic “dome” campus that features canopies and tents near the
corner of Amphitheatre Parkway and North Shoreline Boulevard.

The tech titan also has proposed a vast new neighborhood that
would include 3.12 million square feet of new and redeveloped
offices, up to 400,000 square feet of community retail, as many as
8,000 new homes and 35 acres of open spaces north of Highway 101
near the intersection of North Shoreline and Space Park Drive.

Mountain View-based Google paid $26.1 million for the 650 Clyde
Court building, according to Santa Clara County property documents
filed on May 8. As is customary for the tech titan’s realty
deals, Google paid cash for the property.

But this is only the latest deal by Google in Mountain View.

In April, Google paid $250.2 million for three modestly sized
north Mountain View buildings, buying the properties from legendary
Silicon Valley developers John Arrillaga and Richard Peery.

The transactions in April with the Peery Arrillaga firm included
Google paying $138.6 million for a 92,000-square-foot building at
900 Alta Ave. in one transaction, county documents show. In a
separate Mountain View purchase, Google paid Peery Arrillaga $111.6
million for a 61,000-square-foot building at 1053 Joaquin Road and
a 14,000-square-foot building at 1489 Charleston Road, according to
the property records.

In November Google paid $1 billion for the 51.8-acre Shoreline
Technology Park, an eye-popping deal that gives the company
ownership of a 12-building complex with addresses ranging from 2011
to 2091 Stierlin Court.

That billion-dollar Mountain View transaction was also the
second-largest property purchase in the United States in 2018,
eclipsed only by another Google acquisition, the $2.4 billion the
company paid for Chelsea Market in Manhattan.

The most recent deal on Clyde Court might be driven by the 2.3
acres of land beneath the nondescript 34,000-square-foot building.
Were the structure to be bulldozed, it’s possible that a higher
density on the site could allow construction of a modern office
building ranging in size from 70,000 to 100,000 square feet.

Source: FS – All – Real Estate News 1
Google widens Mountain View footprint with building deal