Published On: Mon, Jul 14th, 2014

Google Buys The Embarcadero Building in San Francisco

As Google continues to diversify its worldwide operations the company needs more office space.


Glenborough Realty 188 Embarcadero

 

Business must be great for the operators of the world’s most successful search engine and the creators of the Android mobile device operating system, as it has needed to expand its operations into two new San Francisco locations. Google announced that it has purchased 188 The Embarcadero from Ares Management LP and USAA Investment Management Co. for $65 million last Thursday and that it will also be leasing 250, 000 square feet at the 42-story Spear Tower in the One Market Plaza complex.

The move comes after Google just last year signed a new lease expanding its presence to 386, 000 square feet at Hills Plaza.

Located at the corner of Bayside boulevard and Howard Street, The Embarcadero has eight stories and is only two blocks away from Google’s main San Francisco offices in Hills Plaza. Built in 1985, it has 92, 093 square feet of office space, is LEED certified, and has on site parking and deluxe conference rooms. It also boasts waterfront views on all sides, including views of the Bay Bridge.

The Spear Tower, built in 1976, is a 42 story, 556 foot tall building located in the One Market Plaza Complex.

Caitlin Adair, a Google spokeswoman, told Bloomberg about the lease, “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.”

Antony Ressler / Getty

 

Christine Falvey, spokeswoman for San Francisco Mayor Ed Lee, said that Google has “demonstrated that they really have the San Francisco values that the mayor has been trying to impart to other companies.”

The expansion is taking place at a time when San Francisco is beating the national trend in America in employment, having seen a rise of 4.6% last year. This was credited to the increases in local technology employment.

Another advantage in adding new offices space in the city for Google could be that it will allay the complaints regarding its reverse commuters. Google currently offers shuttle bus services to its employees who commute from San Francisco to it’s out of town offices. Many locals saw this as a sign of their city’s growing gentrification, in which wealthier people had turned its neighborhoods into internal suburbs.

Based in nearby Mountainview California, Google is currently listed as the number two tech employer in San Francisco, with about 2, 500 employees. The expansion, which will of course mean hiring more employees, might see Google rise to the top spot on that list.

 

 

Glenborough Realty 188 Embarcadero

 

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