Google has started 2014 by adding to its Palo Alto holdings. The new property, located at 1076 East Meadow Circle, is situated on about an acre of land.
The company paid approximately $6.5 million for the 19,700 square-foot building. The search engine giant now owns more than half of the land in the EMC area. Its first purchase was a 15-acre, $66-million deal in July of last year.
Since that point, it has continued to add to its holdings.
The portfolio includes seven older industrial properties, as well as a small parcel of bare land located off East Meadow Circle.
According to public records, Google purchased the properties from California Pacific Commercial Corp, a longtime Valley real estate firm.
The addresses for the properties are 1015, 1020, 1025, 1036, 1040, 1085, and 1086 East Meadow Circle.
These properties, plus a one-acre piece of land located on Fabian Way, which is located nearby, total approximately 14.75 acres.
The commercial properties traded for between $60-$70 million. The area had been singled out for zoning changes to attract commercial users.
The company has not revealed what its long-term plans are for its holdings.
There is no information filed with the city about any development proposals which would shed any light on the subject.
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