LH Shoreline has bought a building leased to Google in Mountain View for about $170M. Google has leased the 133K SF office at 1001 North Shoreline Blvd. since 2015, the East Bay Times reports. The building was previously assessed with a property value of $60.4M after it was completed by Calvano Development in 2017.
Google also has negotiated the right of first offer to purchase the building, according to the East Bay Times. The building’s new owner is an affiliate of San Francisco-based Stockbridge Real Estate, which also owns the Bay Meadows mixed-use development in San Mateo.
Kidder Mathews Executive Vice President and partner Craig Leiker told the East Bay Times the 1001 North Shoreline Blvd. building is in the path of Google’s expansion and could be bought in the future.
Google’s expansion throughout Silicon Valley has includ ed buying up property for more than $1B in Sunnyvale over the last few years, and the company plans to build a two-story office complex of over 1M SF in Sunnyvale, North Bayshore in Mountain View and its Google Transit Village in Downtown San Jose.