Google Grabs 15-Acres In Palo Alto, Securing More Office Space Near The Googleplex Headquarters
According to a number of news organizations, Google has purchased approximately 15-acres in Palo Alto that include a collection of developed parcels on the 1000 block of East Meadow Circle and a small area of undeveloped space on Fabian Way.
While a Google spokesperson confirmed the real estate purchase to the Mercury News, the search giant did not comment on what they plan to do with the newly gained office space.
Google purchased the land from the California Pacific Commercial Group for a reported $60 to $70 million in cash. The East Meadow Circle location includes seven buildings and is located just over two miles away from the Googleplex headquarters in Mountain View.
Palo Alto’s city economic development manager Thomas Fehrenback appears excited about Google’s real estate deal, releasing a statement that he was “delighted” to have Google back in Palo Alto, “….we look forward to working with them on whatever their project ends up being.”
Palo Alto Mayor Greg Scharff’s comments were more apprehensive. “I want us to be the breeding ground for the world’s technology,” said Scharff, “Google is a great company. But, I think that startups and innovations is what Palo Alto is about.” Palo Alto’s city planning director Aaron Aknin told the San Jose Business Journal that Google has not submitted any plans for the newly secured locations.
Google first office space was at 165 University Avenue in Palo Alto. After outgrowing workspace in Susan Wojcicki’s garage in Menlo Park, the company moved to Palo Alto in February of 1999, but relocated to Mountain View by August of that same year.
(Some images used under license from Shutterstock.com.)
Discover what's up in the business of marketing each Friday.