Google Is Investing In Real Estate Are You

Dated: 03/13/2019

Views: 123

Google Plans to Invest $13B In Real Estate

February 15, 2019

Google's appetite for real estate is growing. The tech giant’s CEO announced this week that the company is building new data centers and offices and plans to expand to several key locations across the country this year. It plans to spend $13 billion this year in real estate.

Google sign on exterior of brick building

© Spencer Platt/Staff/Getty Images

“With this new investment, Google will now have a home in 24 total states, including data centers in 13 communities,” wrote Sundar Pichai, Google’s CEO, in a blog post. “2019 marks the second year in a row we’ll be growing faster outside of the Bay Area than in it.”

Google announced that new data centers will be opened in 2019 in Nevada, Ohio, Texas, and Nebraska, Google’s first presence in those states. Google also announced it would be doubling its workforce in Virginia as well as expanding its New York campus at Hudson Square.

Pichai says the expansion plans will likely create “tens of thousands” of construction jobs across Nebraska, Nevada, Ohio, Texas, and Virginia as well as in Oklahoma and South Carolina, where the company already has existing data centers.

The company will also be building new office buildings in Texas and Massachusetts and adding more space in Illinois, Wisconsin, Washington state, and Georgia, as well as redeveloping a location near Los Angeles and in the Bay Area in California.

The company’s investment plans in real estate this year follow $9 billion in real estate investments in 2018. That included $2.5 billion it spent on opening or expanding its data centers in Alabama, Oregon, Tennessee, Virginia, and Oklahoma.

Source:  “Investing Across the U.S. in 2019,” Google (Feb. 13, 2019); “Google Will Spend $13 Billion on U.S. Real Estate in 2019, Expanding to Nevada, Ohio, Texas, and Nebraska,” CNBC (Feb. 13, 2019); and “Google to Invest $13B in Real Estate Across the U.S.,” The Real Deal (Feb. 13, 2019)

Want to Advertise on this Site?

Latest Blog Posts

The US Housing Market Outlook

Here are some updates and insight on the Housing Market for 2019. Let's set a time to talk about our local market. I would love to share my housing market insights with you and do an annual

Read More

10 Ways To Refresh Your House For Spring

10 Ways To Refresh Your House For Spring Add these tasks to your spring cleaning list to make sure the exterior of your home is in full bloom for warmer weather.Clean Out The Clogs As the rainy

Read More

WHAT CREDIT SCORE DO YOU NEED TO BUY A HOUSE

What Credit Score Do You Need To Buy A House?There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a

Read More

The Fordham At Baywood Luxury Apartments

The Fordham At Baywood Luxury ApartmentsStarting the search for your next home online – whether it’s a rental or purchase – has become commonplace, if not completely expected. But

Read More