By Meghan Hall
Google has purchased Yahoo’s headquarters complex, as well as several other Sunnyvale properties, for $1 billion. The transaction, first reported by The Mercury News, is believed to be the largest dollar transaction in the Bay Area this year.
The properties are all located in north Sunnyvale and owned by Verizon or its subsidiaries, including Yahoo. The two-transaction deal covered nine addresses, with the properties located on First Ave., Java Dr., Bordeaux Dr. and North Mathilda Ave. Brokerage and commercial firm CBRE worked to arrange the deals.
The news breaks as Verizon announced that it had signed a 640,000 square foot lease for San Jose’s Coleman Highline office complex, which will support 3,400 employees, including 2,400 to be moved from Verizon’s current Sunnyvale address.
The most recent transaction by Google is on par with its $1 billion purchase of a Mountain View’s Britannia Shoreline Technology Park. The 51.8-acre site is located across from the company’s current Googleplex and consists of 12 structures ranging from one to two stories. Google purchased the property from HCP Inc., and the deal was the Bay Area’s largest real estate transaction of 2018.
Since 2017 overall, Google has now spent close to $2.4 billion in buying properties in northern Sunnyvale alone. At the beginning of July, Google purchased the 1272 Borregas Ave., a two-story, 78,324 square foot office building also in north Sunnyvale, for $58.1 million. The tech company also purchased the Chesapeake Commons, just up the road for $160.3 million from Kilroy Realty in November 2018.