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Google taking advantage of more commercial leases

Alphabet, the parent company of Google, has been active in the office space arena recently. In fact, it has added office space much more quickly than other Bay Area technology companies. Like Alphabet, other companies in Los Angeles and other parts of California can take advantage of commercial leases to expand their business operations.

In Alphabet's case, the tech giant now leases or owns commercial real estate that is equivalent to a total of 14 San Francisco Salesforce Towers. In other words, the company spans nearly 20 million square feet. This means that its footprint is nearly 40 percent bigger than that of Apple.

Facebook is in third place with a more than three million square feet. However, this social media giant is ready to expand this by half with a brand-new campus in Menlo Park, and it also has projects in Fremont and San Francisco. The largest division of Alphabet, Google, employs over 34,000 individuals.

The challenge that many startups face today is competition from the likes of Google, not only on the business front but also on the commercial real estate front in Los Angeles and other parts of the Golden State. Many startups are having trouble securing commercial leases, as landlords might be more apt to enter into contracts with established firms, which can sign lengthier leases or even purchase their properties down the road. However, with persistence and financial preparation, startups can still secure good leases. Before they sign on the dotted line, though, seeking the help of an attorney may be a wise move to make sure that the lease agreements truly reflect their wishes and needs long term.

Source: San Francisco Chronicle, "Google's Bay Area real estate empire equivalent to 14 Salesforce towers", Wendy Lee, Feb. 23, 2018

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