Sunnyvale Is About To Get A Lot Bigger, Thanks To Google
The 27th largest company in the world is about to get a lot bigger and Sunnyvale is about to gain a lot more jobs.
According to Mercury News:
Blue Angels LLC, an entity with direct ties to Google, and with offices at the tech giant’s headquarters, paid $18.9 million on Sept. 14 for a low-slung industrial building at 1190 Borregas Ave. in Sunnyvale. The building totals just under 33,000 square feet and the price works out to $576 a square foot.
Google on Sept. 20 bought a 27,000-square-foot building at 270 E. Caribbean Drive, according to Santa Clara County property records. That price was even higher: $20.2 million, or $747 a square foot.
Google is purchasing, and in some cases, leasing, several buildings in Moffett Park. The buildings were originally built for the aerospace, defense and tech industries.
They are also moving into a couple of office towers just a half mile away near Crossman Avenue and East Java Drive. The towers are part of a 15.5 acre campus called Moffett Gateway.
“No one has witnessed the magnitude of growth that Google has exhibited over the last decade, not from Cisco, not from Apple,” said Phil Mahoney, vice chairman with Santa Clara-based Newmark Cornish & Carey, a commercial realty brokerage.
What about jobs at Google?
Google plans on filling those buildings with up to 15,000 to 20,000 employees. Presumably, a good number of those will be already existing employees, but they will still be hiring several. After all, they are growing at a steady rate of 21 percent per year. More than 75,000 people currently work for the internet behemoth.
What about housing?
Where Google plans to house their new employees is still a mystery. Housing in Sunnyvale is so tight that earlier in the month, a home sold for a whopping $782,000 over list price.
Your eyes do not deceive you: The four-bed, two-bath house — less than 2,000 square feet — listed for $1,688,000 and sold for $2,470,000.
Source: Mercury News
Even now, some Google employees are living in the parking lot at Google’s campus. With the average rent at over $2,500 per month, who can blame them?