Google widens Sunnyvale holdings with big property purchase


SUNNYVALE — Google has bought a big Sunnyvale parcel from NetApp, a deal that widens the search giant’s already vast holdings in Silicon Valley.

The tech titan bought a parcel that’s part of a large city block in northern Sunnyvale, according to Santa Clara County property documents.

Mountain View-based Google bought roughly 16 acres that represent approximately half of a 30-acre Sunnyvale parcel owned by NetApp, a cloud services and data management tech firm that’s based in Sunnyvale.

The parcel that’s just been bought is adjacent to several other properties on the block that belong either to Google or to NetApp. The block is bounded by East Java Drive, Geneva Drive, East Caribbean Drive, and Crossman Avenue.

In the most recent deal, Google paid $95.6 million for the property, according to Santa Clara County public documents that were filed on Aug. 29.

All told, and including the most recent purchase by Google, the combined value of the properties that the search giant owns on the big block is a combined $437.8 million, county public documents show.

Yet this is far from the only purchase Google has undertaken in Sunnyvale in recent years. And some of the tech titan’s acquisitions have been mammoth in size.

Google’s interest in Sunnyvale emerged in 2011 when the company leased 715,500 square feet at the corner of 11th Avenue and Innovation Way in that city at the Technology Corners office complex that was developed by Jay Paul Co.

At the time, the Google lease in Sunnyvale raised eyebrows because it marked the first major outpost for the digital behemoth outside of its home territory of Mountain View.

Yet that lease with the Jay Paul project was only the start of what has evolved into a widening footprint for Google in Sunnyvale.

In 2017, the Google real estate expansion stunned observers yet again when the company bought roughly 50 properties in Sunnyvale for approximately $800 million. The parcels Google obtained were in nearly every instance low-slung old research buildings that were on sites suitable for much denser development — as well as for housing and retail.

That same year, NetApp, in official federal regulatory filings, revealed plans to sell multiple Sunnyvale properties to Google, including parcels on the big block shared by Google and NetApp.

In 2018, Google paid $160.3 million to buy the four buildings that make up the Chesapeake Commons office complex located near Moffett Park and Caribbean drives in Sunnyvale, a campus that totals roughly 267,000 square feet. As is the case with numerous other Google purchases in Sunnyvale, this campus could be bulldozed and replaced with much larger modern office buildings.

The Google purchases in Sunnyvale included some that are noteworthy for tech and military history.

In 2017, Google struck a deal with the city of Sunnyvale to purchase five acres of municipal land that included a portion of the old Onizuka Air Force Station, paying $21 million.

Google in July paid $58.1 million for a nondescript building on Borregas Avenue that once housed an engineering division of Atari, a video games rocket that soared then sputtered …read more

Source:: The Mercury News – Business

      

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