Google entered an agreement to lease an additional campus with nine building and up to 630,000 additional square feet of space in Mountain View, extending its growing real estate footprint. The new building is right across Highway 101.
The current GooglePlex has about 4.3 million square feet of space and Google continues to buy buildings, acquire land and sign leases to house their growing workforce globally.
Forbes reports Google signed a lease on 160,000 square feet of office space at the Central Saint Giles development in London. Google is expected to be paying about $16.8 million per year in rent for this space, that means over a $100 per square foot of space.
"We had two other major companies interested in our project, and we had been in discussions with them for several months, and then Google came along and was much more intense," said John Lovewell, partner with Keenan Lovewell Ventures, the owner of "The Quad" campus on Ellis Street. "They were ready to make a commitment -- a specific commitment -- very quickly, and that's why we ended up making a deal with them."
Google's recently announced plans to build as much as 595,000 square feet of new space on 19 acres of land near Charleston Road and Shoreline Boulevard, the new Ellis Street campus would expand Google's total real estate holdings in Mountain View by about one-quarter. Google needs the space. The Internet giant said in January that 2011 would be its biggest hiring year ever, adding more than 6,000 employees before the end of the year, with about one-third of those hires in the Bay Area.