Google is about to have some new territory – off the web.
The company recently made a deal with the city of Beverly Hills to open an office for its entertainment division in a city-owned building that’s more than 13,000 square feet.
The 11-year lease, which was approved by Beverly Hills City Council on Tuesday, is valued at $6.3 million.
According to the Hollywood Reporter, the office will house YouTube staffers in addition to Google employees. The office, located at 331 Foothill Rd., is expected to open by the end of the year after improvements to the property have been completed.
This is Google’s second agreement to purchase Los Angeles-area real estate in recent months. In January, the company signed another lease for more than 100,000 square feet at three Venice properties.
It looks like this purchase signifies Google’s further foray into the entertainment world. Let’s not forget about Google TV.
Luckily, it will be in good company: AOL, Netflix and Lakeshore Entertainment are also in the area.
Sure, Google already owns the majority share of Internet searches in the U.S. So why not add some property value on top of that?
(via The Hollywood Reporter)
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