Google Buys San Francisco Building for $65M

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July 14 (Bloomberg) -- On “BWest Byte,” Cory Jonson examines Google’s $65 million purchase of an office building in San Francisco, CA. Johnson speaks on “Bloomberg West.” (Source: Bloomberg)

Moment i will not be.

$65 million, this is a transaction completed late last week.

It's an interesting building three blocks from here.

Check this out -- that is the oakland bay bridge.

This is san francisco.

This is increasingly the center of technology in america.

Google acquired this building behind me on the embarcadero for city $5 million.

They have also just signed a lease on the big tower back there.

They signed a lease on 250,000 square feet.

Google is taking a significant presence here and the city of san francisco, bigger than ever before.

The building behind me was once a representative of the old world of san francisco, the maritime building where was shipping companies.

Now it will be the heart of technology and you've got companies in this neighborhood like salesforce and autodesk and tons of startups.

You've got a lot of companies here in the technology world moving their operations increasingly away from silicon valley and closer to the urban area and closer to san francisco which represents a big change in the broader economy.

Google is putting a stamp on that with the acquisition of this building.

That is the building their.

It really does represent a change in the city in particular.

These offices were plays were lots of merchandise was brought in off of the sure.

-- off of the shore.

They are moving away from silicon valley and the production and manufacturing an increasingly urban.

They want the best people so isn't it all about talent who want to live in san francisco?

Certainly, and it centrally located near rapid transit trains and the soon to be terminal and bus station.

It also reflects the way technology is so much more incorporated with businesses into people's lives.

The products that regular people use.

Speaking of talent and google, judge lucy coe who has been working on the dispute between the technology companies and if they unfairly did not poach -- agreed not to poach other people's employees that google at one time considered having the senior executive at google, larry page, sergey brin, eric schmidt reach out personally to employees at facebook.

Larry and sergei have insisted on meeting every higher at the company before they start their jobs.

People around google have complained a bit that that delays hiring and makes it slower to hire people in a very competitive world.

I think that's an important context to understand that google is weird in that way.

They have always had senior executives involved.

The talent battle between google and facebook is as intense as anything in silicon valley.

It's interesting talking to people from the older guard tech scene, the people who were here when silicon valley was booming.

Imagine the future in silicon valley totally perplexed that everybody wants to be in san francisco.

It is usually about manufacturing.

I remember going to a trial about toxins released when they were making debt drives -- disk drives.

That is the old silicon valley and you don't need that space anymore.

Cory johnson, thank you so much.

Thank you all for watching this

This text has been automatically generated. It may not be 100% accurate.


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