Google Expands Palo Alto Presence - NBC Bay Area

Google Expands Palo Alto Presence

$10 million buy caps off 1 million square feet of new acquisitions



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    The Android is moving into Palo Alto.

    Google may be too big for Mountain View.

    The Internet search and advertising giant plunked down nearly $10 million for a 22,300 square-foot building in Palo Alto last month, according to the Silicon Valley Business Journal.

    The building, 1010 Corporation Way, is zoned for office as well as R&D, and follows a 200,000 square-foot acquisition two months ago, the newspaper reported.

    Google's buy is at a market high -- the owners of the property will clear a tidy profit after selling the building -- for which they paid $244 per square foot -- for $425 per square foot of space, the newspaper reported.

    Google has secured close to a million extra square feet of office space in the last few months, the newspaper reported, a splurge of expansion that is "fairly unprecedented," according to real estate experts.