Briefing

Google expands again in San Francisco

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The internet giant is leasing 190,000 square feet in One Maritime Plaza, a tower in the city’s financial district. In November 2018, Google took over 300,000 square feet formerly occupied by Salesforce. (San Francisco Chronicle)

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Talking point: Google’s aggressive expansion of its U.S. footprint has been good news for office building owners. One Maritime Plaza is the property of Morgan Stanley. Google also announced US$3.4-billion worth of expansions in New York City last year, including leasing office space in a West Village building owned by Oxford Properties, which is controlled by the Ontario Municipal Employees Retirement System (OMERS) and the Canada Pension Plan Investment Board. OMERS was part of the consortium that unsuccessfully bid on Waterfront Toronto’s request-for-proposals to develop Toronto’s Quayside neighbourhood—a competition that Google sister company Sidewalk Labs eventually won.