Google to shed 1.4M sf of office space in Silicon Valley
Tech titan has listed seven buildings for sublease in Mountain View and Sunnyvale
Google, having laid off thousands of workers and facing more than $550 million in real estate exit costs, is offloading 1.4 million square feet of offices in Silicon Valley.
The Mountain View-based search giant has listed for sublease seven office buildings in Mountain View and Sunnyvale, the San Francisco Business Times reported, citing a brochure of listings.
The subsidiary of Alphabet, which paused its transit village in San Jose known as Downtown West this spring, is cutting costs during the era of remote work.
In January, the tech titan announced it would lay off 12,000 workers, including more than 1,600 in the Bay Area, its biggest layoff ever. In the first quarter, Alphabet announced $564 million in lease exit costs.
Its real estate shrinkage will trim nearly 1.4 million square feet, or 4.5 percent, of its 31.1 million square feet of offices in the Bay Area, according to the Business Times.
Google has listed for sublease seven office buildings:
- A 190,000-square-foot building at 600 Clyde Avenue in Mountain View. The vacant offices, owned by Renault & Handley, are available through August 2031.
- A 151,000-square-foot building at 620 National Avenue in Mountain View. The vacant offices, owned by Preylock Holdings, are available through May 2029.
- A 227,600-square-foot Building A at 1000 Enterprise Way at the Moffett Park campus owned by Jay Paul Company in Sunnyvale.
- A 317,200-square-foot Building B at 1020 Enterprise Way in Sunnyvale.
- A 192,500-square-foot Building B at 1050 Enterprise Way in Sunnyvale.
- A 26,600-square-foot R&D building it once occupied at 1215 Bordeaux Drive in Sunnyvale.
- And a 222,000-square-foot building at 750 Moffett Boulevard in Mountain View. The vacant building was developed by Broadreach Capital Partners.
The company’s Bay Area footprint spans 27 million square feet of office and R&D space in Silicon Valley, 2.5 million square feet on the Peninsula and 1.6 million square feet in San Francisco, unidentified sources told the Business Times.
“As we work to ensure that our real estate investments match the needs of our hybrid workforce, we’re ending leases for a number of unoccupied spaces. We remain committed to our longstanding presence in the Bay Area and investing in the local community,” a Google spokesperson told the newspaper.
— Dana Bartholomew