Source:
Reuters5 Jun, 2008, 0546 hrs IST, REUTERS
SAN FRANCISCO: Google Inc has struck a deal to expand its office space by 50 per cent by leasing land on a former naval air base turned space research center near its Silicon Valley headquarters.
The Internet leader and US National Aeronautics and Space Administration said on Wednesday that Google can build on 42.2 acres (17 hectares) at NASA's Ames Research Center in Mountain View, California, under a lease that could run up to 90 years.
The undeveloped land between Moffett Field, the Googleplex headquarters and the wetlands of San Francisco Bay gives Google room to build up to 1.2 million square feet (111,500 square meters) of offices and campus research facilities.
Under the terms of the lease, Google will pay NASA an initial base rent of $3.66 million per year, based on a fair market value assessment of the prime Silicon Valley real estate, the company and government agency said in a statement.
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