Google pays $138M for new campus property in Boulder

BOULDER — Google Inc. has paid nearly $138 million in two transactions toward its new campus in Boulder.

The Mountain View, Calif.-based company earlier this month paid $130,944,000 for a 3-acre lot and two buildings at the southwest corner of Pearl and 30th streets, and in January had paid $7,014,000 for an adjacent 1.3-acre lot still to be developed.

Google bought the property from Glendale-based Forum Real Estate Group that used the entity Pearl Place Phase I Vertical LLC, which recently was merged with Pearl Place Associates LLC, to make the transaction, according to Boulder County public records.

SPONSORED CONTENT

The many benefits of simple, coordinated healthcare

Kaiser Permanente combines health care and coverage in one connected system to maximize employee health and minimize employer costs.

“The acquisitions make sense fiscally, but also demonstrate our commitment to Boulder,” said Scott Green, Google’s Boulder site leader, in a prepared statement. “Google has come to value the community, its talent base and its quality of life.” 

The campus, called Pearl Place, is being built on a 4.3-acre site near the southwest corner of 30th and Pearl streets. It will consist of three, approximately 100,000-square-foot, four-story buildings. The first phase —  two buildings —  is nearing completion. The cost to develop the second phase — one building on the 1.3-acre site —  has yet to be announced.

The project enables Google to expand from its present 300 employees in Boulder to as many as 1,500 over the next decade.

In 2015, Darren Fisk, founder and chief executive of the Forum Real Estate Group, said the group would lease the buildings to Google. Fisk on Wednesday did not respond to a request for comment.

Editor’s note: This story was updated with a comment provided by Google’s corporate communications department on Sept. 21.