Posted on 11/30/2018 3:01:34 PM PST by ProtectOurFreedom
Google has paid $1 billion for a huge Mountain View business park, the Bay Area’s largest real estate purchase this year.
It is the second-largest property purchase in the U.S. this year, eclipsed only by another Google acquisition, the $2.4 B paid for Chelsea Market in Manhattan.
The newly acquired site in Mountain View, where Google has been the primary tenant, is larger than the property that accommodates the company’s Googleplex headquarters a few blocks to the west and also exceeds the size of the parcel across the street where Google is building an iconic “dome” campus that features canopies and tents.
...in the two years since the search giant began to collect properties in downtown San Jose for a proposed transit village, the company has spent at least $2.83 billion in property acquisitions in Mountain View, Sunnyvale, downtown San Jose and north San Jose alone.
Buying Mountain View’s Shoreline Technology Park gives Google a 51.8-acre site with 12 buildings. The big parcel, which is dominated by one and two-story buildings with ample surface parking.
Irvine-based HCP sold Google the Mountain View property on Nov. 20. HCP realized a $700 million gain from the sale. The property’s assessed value in mid-2018 was $367.3 million.
The deal also appears to be the Bay Area’s largest real estate transaction — by far — in 2018. Prior to Google’s purchase, the highest price paid in Silicon Valley was a $284 million acquisition by developer Jay Paul of the Cityview Plaza office, retail and restaurant complex in downtown San Jose in July. That was topped by the October deal for San Francisco’s iconic Ferry Building complex, a $291 million transaction.
(Excerpt) Read more at mercurynews.com ...
Traffic on the north side of CA-101 has been horrendous for years due to the growth of Google in that area. If their new buildings hold twice the number of workers as the current buildings Google leases on the property, the traffic in the area is going to get far worse. It's a relatively small land-locked area tucked between CA-101, the City of Mountain View Shoreline Park, the old Moffett Field Naval Air Station / NASA Ames laboratories, and the San Francisco Bay.
Right next to Goog’s Private... err... I mean, federally funded airport.
They should hope their phones are their future, because you can’t use their search (at least for news) anymore...all left wing BS gets top priority.
.
God PLEASE let this happen on Staten Island, as the other four boroughs have become incredibly expensive and there’s fewer places close to Manhattan work that are affordable.
I will SELL and move to PA!! :)
Prices ARE climbing pretty rapidly, but NO WHERE NEAR the prices out there.
I've read reports where even six-figure tech workers are living out of their cars.
Alexandria Ocasio-Cortez? Bernie Sanders?
More proof that CA leftists conspired to drive out the working and middle-class so the state will be left with a huge underclass and a group of elites at the top.
They’ll probably build company houses and apartments on all that land. It would save many of their workers a very long commute, or having to wait in San Francisco for that Google Bus. The homeless people, envious and resentful, staring at them all.
"...azzholes better add a most"
Moat
So, what do they make besides babysitting servers and agitating for World Socialist Revolution ?
And don’t tell me about ‘driverless” car chit.
Funny but I don’t know why.
Yeah,I know
AAANNNDDDD...YOU ARE RIGHT!! They are proposing to build an entire new CITY!
Google-backed massive housing and office plan wins approval
By Louis Hansen, December 12, 2017Mountain View City Council Tuesday night unanimously approved a sweeping redevelopment plan, clearing the way for Google and other developers to create a dense, city-like campus of offices and homes in a housing-starving region. The new master plan could reshape North Bayshore, home to Google headquarters, into the most ambitious new development in the Bay Area with nearly 10,000 new homes and apartments, about 3.6 million square feet of office space, and a mix of pedestrian-friendly parks, retail shops and businesses.
Mountain View leaders said they hope to set a new tone for residential development in the Bay Area. Google endorsed the plan at Tuesday night’s six-hour meeting. Vice mayor Lenny Siegel said the project would address the core issue facing the region. “This is a cutting edge plan that sets a standard,” he said. “Not just for the Bay Area, but for the rest of the country.”
Elected officials in the neighboring cities have discouraged new housing projects, even as major employers in those cities have expanded. According to the housing advocacy group SV@Home, Mountain View has a ratio of 2.7 workers for every housing unit, the second-highest in the region behind Palo Alto, with a ratio of 3.8 workers per home.
“This is a leap forward for the entire Bay Area,” said Pilar Lorenzana, deputy director of the non-profit. “No other city is trying to add this many homes.”
A recent report released by the Silicon Valley Community Foundation and the Silicon Valley Leadership Group found that between 2010 and 2015 the region created about 367,000 jobs while building just 57,000 new homes.
Financial details about the plan, including Mountain View-based Google’s investment, have not been released. Siegel said the full development could take a decade to complete.
About 150 acres of the project are dedicated to residential development — including single family homes and apartments.
The city will allow up to 9,850 new housing units, with 70 percent targeted for studio or one-bedroom apartments. It also sets a goal to have 20 percent of the apartments be affordable units.
They make little boxes you can put in your home so they can listen to everything you say and merge it with their comprehensive view of you. They make email so they can eavesdrop on everything you write, as well as the replies you get, to add to their comprehensive view of you. They track everywhere you’ve been in all the years you’ve been using Google Maps so can build a more comprehensive model of you. They know every web page you visit.
They know you better than you know yourself. And lots of companies pay big bucks for that knowledge about you.
“”Irvine-based HCP sold Google the Mountain View property on Nov. 20. HCP realized a $700 million gain from the sale. The property’s assessed value in mid-2018 was $367.3 million. “”
Had to look up HCP as we lived and worked in Irvine for years but never ran into that name. Their office space is just around the corner from where we had our business at John Wayne Airport. Hmmm! Wonder how much of their attention is on the “health care industry?”
“”HCP is a real estate investment trust that focuses exclusively on properties serving the health care industry. The company is a self-administered REIT that invests directly or through joint ventures.It is a publicly traded and has more than $4 billion in real estate portfolio. HCP’s holdings include 500-plus health care properties in 42 states. The company s properties are distributed among hospitals, nursing facilities, assisted-living centers, continuing-care retirement communities and medical office buildings. Its capabilities include critical acquisitions, complex financing, expansion capital and custom-designed transactions. HCP is headquartered in Long Beach, Calif.””
Take your Google paycheck and endorse it to your Google landlord. “I owe my soul to the company store.”
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