Google Inc. (GOOG) Expands in San Francisco with $65M Building Acquisition

Google Inc. (NASDAQ:GOOG) has expanded its real estate presence in San Francisco by buying The Embarcadero Building for $65 million and announced it was leasing 250,000-square feet at the 24-square tower. The building was purchased from USAA Investment Management Co and Ares Management LP, according to Cory Johnson on Bloomberg. The new building is close to Google’s headquarters in the City.

google

“It is an interesting building just three blocks from here and couple of blocks from Google’s existing San Francisco operation center,” said Mr. Johnson.

Google Inc. (NASDAQ:GOOG) according to Mr. Johnson is taking a keen interest of the San Francisco area through its latest expansion as it seeks to poach some of the finest talents in the area. The building that Google is purchasing was a former headquarters for shipping companies of which google plans to revamp for boosting its operations in the city. The building is close to headquarters of other major companies in the area such as salesforce.com, inc. (NYSE:CRM), Autodesk, Inc. (NASDAQ:ADSK) and many startups.

Google Inc. (NASDAQ:GOOG)’s expansion in the city will be a major boost for the local economy as more companies continue to move their operations from the Silicon Valley and into the city. The building is centrally located near transit trains and the soon to be terminal and bus station expected to offer convenience for employees moving to and from their places of work.

The move to buy a building in San Francisco comes as the company continues to look for fresh talent in the area that it intends to use for its advancement in key technological areas. This comes as big tech companies led by the likes of Facebook Inc. (NASDAQ:FB) and Google Inc. (NASDAQ:GOOG) are accused of signing agreement that would bar each one of them from poaching each other’s talent.

Google Inc. (NASDAQ:GOOG)’s top executive, Larry Page and Sergey Brin, are reported to have insisted on meeting anyone hired in the company before they carried out their tasks, a move that some people in the company have complained delayed hiring.

“Google is interesting in a lot of ways because Larry and Sergey have insisted on meeting every single hired at the company before they start their job,” said Mr. Johnson.

The fight between Google Inc. (NASDAQ:GOOG) and Facebook Inc. (NASDAQ:FB) over talent is currently immense than any other thing Silicon Valley has ever seen.


Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!