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Well Google is doing it again. According to several sources, the internet giant has agreed to pay the city of Mountain View approximately $30 million to lease a 9.5 acre parcel near Shoreline Boulevard. In the past few years Google’s voracious appetite has nearly soaked up all available Class A space in the region, so it comes as no surprise that it begins to add more new construction projects. Google plans to work with Ingenhoven Architects, a German firm, to build a “green” office project expected to total nearly 600,000 square feet.
Silicon Valley office space is starting to become a pressure cooker with large companies scooping up any available space. As reported recently by us, there was a Palo Alto office complex that closed for over $900/SF. Also with companies like Facebook and high profile REITS in the mix, office prices seem to have only one place to go.