Google still buying

The City Council voted unanimously Dec. 4 to sell 10 acres of city lands to Google for $110 million.  Meanwhile, Google continues to acquire privately owned pieces of land on the west side of downtown.

On Nov. 29,  the information company, through TC Agoge Associates, acquired a half-acre parcel with entrances at 260 N. Montgomery St. and 255 Autumn St. for $3 million, or $150 per square foot.

On Dec. 11, Google paid $4 million in a package deal for two San Jose homes owned by a family trust – one at 538 Lorraine Ave and another outside downtown in Willow Glen’s Palm Haven district.

Google has made 26 such purchases over the past two years for about $250 million and reportedly holds options on several more parcels extending between San Carlos and St. John streets, mostly along Montgomery and Autumn streets.  Google also has an option to buy the parking lots at SAP Center for another $111 million.

Google intends to build an urban campus of up to 8 million square feet for 20,000 employees downtown.