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Google Takes the Waterfront
Ian Eck | Photo: Courtesy Wikimedia Commons | July 14, 2014
Moves into new office near the Embarcadero.
Like an octopus wrapping itself around a Dungeness crab, Google tightens its embrace of the City-by-the-Bay. In the past few days, they've made two sizable real estate deals: purchasing an eight-story building at 188 The Embarcadero for $65 million and leasing 250,000 sq. ft. at the 42-story Spear Tower in the One Market Plaza complex.
Both spaces are mere blocks away from Hills Plaza, Google's main office in the city, making the waterfront a cluster of Googlefication. "We are excited to expand in San Francisco, and we will continue to work hard to be a good neighbor in the communities where we work and live," said a Google spokesperson.
Despite the concern in some quarters towards these corporations acting all corporation-y, Google has taken steps towards giving back to the city, with charitable donations including the recent $6.8 million for free youth MUNI passes (which, to be fair, came under some duress.)
At a time when San Francisco office property is feeling the effects of sky-high demand (prime rents in the second quarter rose 9.6% from a year earlier to an average of $60.07 per sq. ft.), these deals come as confident moves from the tech giant. In the past four years, Google has bought over 20 buildings by their corporate headquarters in Mountain View, and, earlier this year, they caused a stir by buying office space in the Mission to house newly acquired start-ups.
So rest assured Google bus protestors, all that signage was not in vain. No longer will your bus stops be cluttered with odious Google buses, shipping out their programmers and ad sales reps. Instead, they'll be right here in the city.