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.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
