Google in New York will Spent $2.1 Billions to Purchase an Office Building

Global IT giant, Google is looking to expand its operations in New York City, with the acquisition of St. John’s Terminal, in Manhattan. It will spend, $2.1 billion to buy this office building. St. John’s Terminal building is located inside the Hudson Square campus.

The purchase is expected to get completed by next year’s first quarter. This office building became a part of Google’s offices through a lease agreement, which allowed the firm to purchase the campus within a certain time period.

These actions of the IT major are considered as a part of its plan to increase the workforce in New York City. As per its announcement in 2018, Google’s workforce in the city will grow up to 14,000 by 2028.

The Global Business Organization of Google takes care of sales and partnerships. The company has planned to set up its headquarter in the Hudson Square campus, where the St. John’s Terminal building is located.

The acquired office building will be ready to operate by the middle of 2023. It will have several open spaces for employees to refresh their minds. Even by 2030, Google has targeted to reduce its carbon by 100% by increasing usage of renewable energy.

According to the chief financial officer of Google LLC and Alphabet, Ruth Porat, the St. John’s Terminal site will be the largest office building of the company outside California.

Google has made numerous such investments in New York City, including the Chelsea Market in Manhattan. This site is spanned across an area of 1.2 million sqft. The firm paid $2.4 billion to complete this acquisition. Along with that, Google will set-up its another office at Pier 57 in a space of 0.3 million sqft.

The company has also announced its plan to recruit thousands of employees in cities including Washington, D.C., Chicago, and Atlanta. Google has already announced that will invest about $7 billion to expand its offices and data centers in 2021.

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