Google announced yesterday its acquisition of 12 acres of land in Playa Vista as part of a deal with property seller Lincoln Property Co. for an estimated $120 million, according to Los Angeles Times. The company already owns multiple buildings in L.A., but this recent purchase is their biggest one yet, totaling nearly 900,000 square feet of land.
One Google spokesperson said Playa Vista’s proximity to other local Google-owned properties was a key factor in the purchase. “Our founders really believe in casual coalitions and creativity that comes with super close proximity,” they explained. “We look for places where we can build and create.”
YouTube’s video production facility is just around the corner inside of the renovated former Howard Hughes building (a convenience for Google considering the video sharing site is one of their subsidiaries). Other tech companies, including Facebook and Microsoft, neighbor the search engine giant’s new home as well. Google also has a 100,000 square foot location in Venice, with about 600 employees in-house.
For Google, the acquisition of this new site is all about the promise of opportunity. “We obviously love Playa Vista and we are looking to expand,” the spokesperson says. “There’s a lot of great talent in Los Angeles.”
City Councilman Mike Bonin feels this is great news for both the west side and the L.A. economy. “This further solidifies Playa Vista as the tech and innovation capital of Los Angeles,” Bonin says.
Though Google has been hush-hush when it comes to its plans for the premises—“it is too soon to tell,” according to the company’s spokesperson—surely we can expect big things (or at least some pretty punny architecture).