Google to Obtain 3 More Buildings in Sunnyvale from NetApp for $319 Million

Internet Giant Has actually Now Gotten More Than $1 Billion in Sunnyvale Home Because July

Google Inc. has consented to get three workplace residential or commercial properties in the Silicon Valley city of Sunnyvale, CA, from information management and storage business NetApp, Inc. for $318.7 million.

The residential or commercial properties consisted of in the purchase contract dated Sept. 11 consist of 495 East Java Drive, a 126,760
square foot, four-story office complex constructed in 1999; the 133,021-square-foot 475 East Java Drive; 1330 Geneva Drive, a 121,185-square-foot home, and unimproved land near the structures, according to a Securities and Exchange Commission filing by Sunnyvale, CA-based NetApp.

The deal is expected to close in two stages, with more than $223 million due by Jan. 21, 2018 and the $95.6 million balance payable at a second closing by the end of October 2018. Under the arrangement, NetApp will rent back and continue to occupy among the structures for an undetermined term.

The transaction is the current in a Sunnyvale purchasing spree by Google, which simply six weeks ago took control of ownership of about 50 homes in Moffett Park got on the internet search giant’s behalf by CBRE Global Investors Ltd. for more than $800 million. Google obtained a portfolio of eight Sunnyvale homes from NetApp in April 2016 for $250 million.

In June, Google confirmed that it’s exploring development of an enormous “tech village” totaling at least 6 million square feet on about 250 acres in surrounding San Jose.

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