Investors Purchase Sunnyvale Building Close to Google's Investment Area
Back in July, Google bought over 45 parcels in Sunnyvale from various sellers connected to affiliates of commercial realty brokerage CB Richard Ellis. According to a report by Mercury News, the combined value of all the purchases was around $800 million.
Now, realty investors have picked up another Sunnyvale office building that’s right in the middle of Google’s area of interest. A partnership called Deerfield Caribbean nabbed the property at 250 East Caribbean Drive in Sunnyvale for $17.5 million. Baidu USA currently leases the building.
It’s possible that Google’s multimillion-dollar buying spree in July caught the attention of other interested buyers. Now, they want to try to benefit from the increased property values and possibilities ahead.
Meanwhile, Google is busy purchasing properties in Downtown San Jose for the upcoming transit-oriented campus being planned near the Diridon train station. The campus will hold 15,000 employees.