March 17, 2016
Google is acquiring eight Silicon Valley properties from Net App for $250-million. The deal, expected to close next month, involves 600,000 square feet of space in the Moffett Park business district.
NetApp, which announced workforce cuts of 12 percent last month, will lease back a portion of the Sunnyvale campus from Google. The storage giant says it remains “committed” to its Sunnyvale headquarters, and is merely divesting excess facilities capacity.
The acquisitions give Google even more control over the Moffett Park submarket, even as other companies consolidate footprints there. Google has leased several large office campuses in Moffett Park from the Jay Paul Co., and also picked up buildings from Juniper.