Google Grows Palo Alto Presence With $18M Essex Property Buy
Continuing its Silicon Valley expansion, Google just bought the former headquarters of Essex Property Trust in Palo Alto for $18M.
The buildings at 935 and 925 E Meadow Circle (within the shaded box, above) are near about 10 light industrial buildings Google has purchased in the area since 2013. The property's just south of North Bayshore, an area that includes part of Mountain View and Palo Alto, where Google has been expanding from its Mountain View headquarters, according to the San Francisco Business Times.
One of the Bay Area's top mutifamily REITs, Essex Property Trust moved its headquarters to San Mateo at the end of last year, freeing up the nearly 15k SF building at 935 E Meadow Circle and the 17,400 SF building at 925 E Meadow Circle, which sit on about one acre each. [SFBT]