Report: Google spends another $100M with NetApp for Sunnyvale real estate
Google has purchased a 16-acre parcel of land in northern Sunnyvale from NetApp for $95.6 million, the Mercury News reports, citing county property records.
The block, bounded by East Java Drive, Geneva Drive, East Caribbean Drive, and Crossman Avenue, is in an area where both tech companies already own several properties and where Google has in the past bought multiple sites from NetApp.
Google alone owns close to $438 million worth of real estate in the area, the Mercury News noted, citing public records, and has spent an estimated $2.5 billion in recent years on Sunnyvale real estate.
It was not clear if the Mercury News reached out to Google for comment regarding its plans for the site. The Alphabet Inc.-owned company has been expanding its Bay Area real estate holdings significantly in recent years, buying up billions of dollars in real estate for future campuses.
Its most recent blockbuster deal came in July, when the company spent more than $1 billion to buy a portfolio of former Yahoo properties in Sunnyvale from Verizon Communications.
Google is also building out new campuses around its Mountain View headquarters and recently unveiled high-level plans for the more than $400 million in real estate it has assembled in downtown San Jose for a future mixed-use campus around the Diridon Transit Center.
A sky-high look at Google’s giant Mountain View construction project
Google’s massive development project near its existing Mountain View headquarters is well underway, as new aerial photos taken in July 2019 show.
Google is well underway with two giant construction projects the company is undertaking around its Mountain View headquarters. A trio of buildings covered by white canopies (one foreground, two background in this image) was captured from the sky on July 6, 2019 by 111th Aerial & Architectural Photography.
Increasingly, large tech companies like Google have come to dominate Silicon Valley’s commercial real estate scene. Publicly traded tech companies occupy 45 percent of all office space in the South Bay, brokerage CBRE found in a report earlier this year. And five of the biggest tech companies — Google, Apple Inc., Facebook Inc., Microsoft Corp.-owned LinkedIn, and Amazon.com — alone lease about 18 percent of all available office and R&D space in the region, local think-tank Joint Venture noted in its annual report earlier this year.
Source: Biz Journal
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