Google Puts Down Roots in Silicon Valley with Record-Breaking Office Lease

Google is reaffirming its commitment to Silicon Valley by signing a lease for an entire 156,500-square-foot office building at 1255 Pear Avenue in Mountain View. The tech giant is working out the lease renewal deal with the building's owner, The Sobrato Organization.

This move comes after Google doubled down on roughly 2.1 million square feet in Sunnyvale, including space at Moffett Place and Moffett Gateway. In a related development, Google acquired a 22,000-square-foot office building at 1808 Shoreline Boulevard in Mountain View for $32.8 million late last year.

The tech industry is bucking the trend of companies reducing their footprint in Silicon Valley as vacancy rates decline. According to Kidder Mathews' latest market report, total vacancy in the second quarter was 16 percent, down from 17.7 percent year over year.