Google acquires $1b Mountain View office park for 2018’s largest Bay Area real estate deal

Google has closed a $1 billion deal for a 51.8-acre business park next to its Mountain View, Calif., headquarters.

Google is purchasing the 795,663-square-foot property, which it has already been leasing. The company is the main tenant of the 12 buildings that comprise the Shoreline Technology Park.

The purchase is the second-largest property purchase in the United States this year, following Google’s $2.4 billion purchase of Chelsea Market in Manhattan.

Earlier this month, Google said it will also pay an additional $110 million for a new 10-acre campus to house employees, pending a resident vote in December.

Prior to Google’s deal, the highest price paid in Silicon Valley was a $284 million acquisition by developer Jay Paul of the Cityview Plaza office, retail and restaurant complex in downtown San Jose in July, according to DailyMail.