Behind the Deal: Google's YouTube HQ Buy

Google just scooped up the San Bruno HQ of its YouTube division. HFF senior managing director Steven Golubchik (pictured) led the investment sales team repping the seller, a fund managed by Cornerstone Real Estate Advisers. He tells Bisnow Google was far from being the only party in the running. There was "abundant interest" from foreign investors and value funds. He credits two big drivers behind demand for the property at 900 and 1000 Cherry (aside from the hot tenant leasing through 2022): it's a "phenomenal build-out," rebuilt from inside out and it's also a great location within the Bayhill Office Park, directly adjacent to I-280 and I-380.

Property records show a purchase price of $88M for the 196k SF site, according to the San Francisco Business Times. In July, Google acquired 2367 Marine Way (which is already occupied) in Mountain View for $14.9M. The San Bruno buildings were extensively upgraded with high-tech features by YouTube, including a unique “Immersion Room,” which simulates a 360-degree video stream. There are also two full-service cafeterias inside.

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