SUNNYVALE — Google has paid $1 billion to grab several Sunnyvale properties that were owned by Verizon, in a mega-deal completed this week, public records show.
The properties were all owned by various affiliates of Verizon or its subsidiary, Internet portal Yahoo, according to documents that were filed on July 23 with the Santa Clara County Recorder’s Office.
The property purchase was accomplished through two transactions and brought about Google’s purchase of properties with nine different addresses in Sunnyvale. The properties are on First Avenue, Java Drive, Bordeaux Drive, and North Mathilda Avenue.
Google confirmed the completion of the property purchases but didn’t want to discuss the situation at length.
CBRE, a commercial real estate firm, helped to arrange the mammoth deals, which appear to be the largest so far this year in the Bay Area and possibly the United States. CBRE didn’t comment about the situation.
The purchases all occurred in a part of northern Sunnyvale where Google has been collecting properties that would provide the land so the search giant could create office campuses and brand-new neighborhoods.
The property deals come on the heels of Verizon’s announcement that it had signed a big lease in San Jose’s Coleman Highline office complex.
Verizon Media leased 640,000 square feet in the successful mixed-use campus near San Jose International Airport and said it would shift 3,400 workers to San Jose, including 2,400 from Sunnyvale.
Google is on a jaw-dropping shopping spree for properties in Silicon Valley and has completed some purchases of staggering size within the last year.
It was only last November that Google completed a $1 billion purchase of a big Mountain View office and research park. That head-spinning deal ultimately became the biggest property purchase in the Bay Area, and the second-largest in the nation — No. 2 after Google’s acquisition of the iconic Chelsea Market office complex in Manhattan for $2 billion.
Over a stretch that began in mid-2017 until just prior to this most recent deal, Google had spent at least $1.4 billion buying numerous properties in northern Sunnyvale alone.
The most recent deal with Verizon puts the value of Google’s bulging shopping cart in at a stunning new pinnacle of $2.4 billion — just in that part of Sunnyvale. Google has bought more than 50 parcels in northern Sunnyvale in two years.