Google, the search engine giant, is reportedly expanding its footprint in San Francisco as it just completed a purchase and a lease deal in the area.
The web giant inked a deal to buy 188 The Embarcadero, an 8-storey office building that offers about 92,093 square feet of rentable area. Google has also agreed to lease about 250,000 square feet of space in the 42-storey Spear Tower building, located in the Market Plaza complex, according to Bloomberg.
Financial details of the deal weren't available because the transaction is private. However, sources familiar with the matter confirmed the office space deals.
"We are excited to expand in San Francisco, and we will continue to work hard to be a good neighbor in the communities where we work and live," Caitlin Adair, a Google spokeswoman, told the agency.
"Google has demonstrated that they really have the San Francisco values that the mayor has been trying to impart to other companies," Christine Falvey, spokeswoman for San Francisco Mayor Ed Lee, told Jewish Business News.
Google already has a prominent presence in San Francisco. The web giant inked a record-breaking lease deal in 2013 when it leased 386,000 square feet of space at the 345 Spear Street building.
"Google's real estate team is very capable, very professional and seasoned, and it was a pleasure working with them. I'm not saying that they were easy or a pushover, but they were a top-notch real estate team," Wes Powell of Jones Lang LaSalle, one of the advisors who helped Google through the deal, told The Business Journal.
In February this year, it was reported that Google signed a lease to rent 35,000 square feet of space in the Mission District of the city to accommodate employees who didn't want to relocate to its Silicon Valley headquarter.
When Google is buying companies, they don't want to work in the big corporate building in San Francisco or Mountain View. So they are acquiring something cool in the Mission where engineers want to work," a source from the neighborhood told the Financial Times in a previous interview. The company has more than 2,500 employees in San Francisco.
But Google's expansion is not limited to the United States. The search engine mogul also recently added office space in London and other major cities of the world and why not. At the recent Google I/O developers conference, the company announced that it plans of introducing several new stuff like "Android TV", "Android Auto" and more wearable tech to its vast product line, reports CBS Local.
