Google Plunks Down $16 Million for 70s-Era R&D Buildings

Google shopping spree for office space continues

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    NEWSLETTERS

    TK
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    No building is too old -- or too expensive -- for Google.

    The Mountain View-based search giant paid $16 million for a pair of "1970s-era R&D buildings" in the South Bay city, according to the Silicon Valley Business Journal.

    That's about $470 a square foot, the newspaper reported.

    Vacancy rates for all kinds of office space -- not just R&D -- are plummeting throughout the valley, according to SiliconValleyIndex.org, so Google's move makes real estate sense.

    Then again, Google has been moving fast and often on all kinds of space.

    Google closed on nearly 1 million square feet of office space in Mountain View and Sunnyvale before buying the 2.3 acres with a total of 34,000 square feet of office space, the newspaper reported.