Google has reviewed its real estate investments and come to the conclusion that its $15 billion real-estate investment in the San Francisco Bay Area that included apartments, shops and new office space was no longer in the cards.
The company had partnered with Australia's Lendlease to develop this vision four years ago but now has ended that relationship along with its plans, according to news reports.
"The existing agreements are no longer mutually beneficial given current market conditions," Lendlease told the Wall Street Journal.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
