Google Inks Deal To Purchase Chelsea Marketplace For $2 Billion

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Search Google for “Chelsea Market” and also you’ll see that they now personal the constructing.

The search engine large was already the biggest tenant within the Ninth Ave. constructing, the place it had been leasing about 400,000 sq. ft of area a few block away from its present New York headquarters at 111 Eighth Ave.

And after a $2 billion deal Tuesday with the Jamestown funding and administration firm, Google will quickly personal the entire 1.2 million square-foot workplace and retail constructing at 75 Ninth Ave., which can be house to The Meals Community and Main League Baseball.

In response to The Actual Deal, the sale will shut in two months. It was not instantly clear what Google is planning for Chelsea Market.

The corporate had been slowly buying more room within the property as leases expired. Google paid a then-record $1.77 billion in 2010 to purchase the two.9 million square-foot Eighth Ave. property, a former warehouse occupying a full metropolis block.

However the tech large has struggled to get current tenants out quick sufficient to fulfill its area wants.

The corporate additionally has about 240,000 sq. ft at Vornado Realty Belief and Associated Corporations’ 85 Tenth Ave. constructing.

Chelsea Market is understood for its first-floor meals corridor, which attracts about 6 million guests yearly, in line with its web site.

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