mobanmarketMOUNTAIN VIEW, CA — With the largest property acquisition in the United States this year, Google has laid down big plans for expansion including in its back yard. The search engine giant confirmed it has invested a hefty $1 billion at its Mountain View headquarters.
Google is already the principal occupant of the 795,663-square-foot Shoreline Technology Park, with Alexza Pharmaceuticals as the only other tenant in the complex that Google now owns.
The corporation whose name is synonymous with “search” on the Internet is also looking at locations in San Jose. In the metro area, there are plans for a proposed transit village. It has also even eyed Sunnyvale just south of Mountain View.
Its public affairs office insisted there are no plans to move employees or redevelop the offices in any way, as it expands to make room for its already thriving business plan. It offered no other information to share its close-to-the-vest business practices.
The investment gains the distinction of topping the list as the second largest land acquisition in the nation, the San Francisco Chronicle reported.
As it turns out, the West isn’t the only area of the country the behemoth has targeted. Forbes also reported Google shelled out $2.4 billion for Manhattan’s Chelsea Market next to the company’s 111 8th Avenue offices encompassing an entire city block for $1.9 billion in 2010. This is indeed the largest acquisition in the United States.
Google’s plans don’t end there. The San Jose City Council will decide during its Dec. 4 meeting to sell almost $110 million in property to the company for a proposed “mega-campus” near Diridon Station. Two nonprofits including the First Amendment Coalition filed a public records lawsuit against the city calling for more transparency in the deal, which involved Mayor Sam Liccardo and 17 city officials signing non-disclosure agreements with Google.
The meeting has the makings of a lively one, as the project has sparked protests against its presence in San Jose. City officials and local business organizations support the project as a way to increase economic opportunities for the city, but activist groups are convinced the major corporation will take away much-needed land for affordable housing.
Either way, Google’s financial outlook of invest and conquer has dominated the landscape. Its parent corporation Alphabet, which was established as the holding company in 2015, reported a promising earnings report for the third quarter last month. Despite criticisms of missing projections by some financial analysts, Alphabet noted a rise in revenue with the quarter ending Sept. 30 compared to last year’s performance.
“Our business continues to have strong momentum globally, led by mobile search and our many products that help billions of people every day,” Chief Financial Officer Ruth Porat said.
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Revenue came in as $33.7 billion, up 21 percent versus 2017. And while net income was also up, liabilities were too. Still, the company is demonstrating to make money is to spend money.
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