The Molinari-Martinelli family, once staunch opponents of selling their land to Google, have at last relented, leasing their 1-acre property to the technology behemoth for the company's ambitious North Bayshore campus project according to The Real Deal. Until recently, the family's farmstead, located on Charleston Road and nestled right beside Google's Mountain View headquarters, had posed a significant obstacle to the company's expansion plans.
Last November, the family signed a 35-year lease agreement with Google for the property, with the option of extending the lease for an additional 20 years. Furthermore, if the family decides to sell the property in the future, Google retains the right of first refusal, as reported by the Silicon Valley Business Journal. The Molinari-Martinelli family's shift in attitude came as a surprise to many who had followed the story, as they had previously rejected multiple offers from Google to purchase the site.
Established 80 years ago by Victor Molinari, the family's property originally functioned as a working farm, where fruits and vegetables were cultivated. In recent times, the land was repurposed as a rental property, complete with a single-family home and a three-unit apartment building. Throughout this transformation, the family remained reluctant to sell the property, with the preservation of their family history cited as a key motivating factor.
With the signing of the lease, the Molinari-Martinelli property is now set for a substantial makeover. As part of Google's North Bayshore plan, the property will undergo dramatic changes, including the demolition of six buildings currently on it, such as residential structures, barns, and sheds. In place of these older structures, the company intends to construct a new 100-space parking lot, replacing an existing 153-space lot at 1875 Charleston and providing additional open space to the site, The Real Deal reported.
In 2020, the Landings project, a component of Google's broader North Bayshore plan, received approval from Mountain View's city officials. The comprehensive proposal outlines an expansive vision for the area, including the addition of a million square feet of office space, thousands of homes, parks, retail venues, hotels, schools, and other amenities according to the Silicon Valley Business Journal.
Though the City Council granted Google a 30-year window to complete their North Bayshore project, the specific timeline for development on the Molinari-Martinelli property remains unclear. The leasing of the family property comes amid Google's ongoing evaluation of its office space requirements and the reduction of its real estate footprint following a series of mass layoffs. These circumstances include the temporary shelving of Google's Downtown West campus project in San Jose and the subleasing of approximately 1.4 million square feet of office space in Silicon Valley, per The Real Deal.
This is not the first instance of holdouts obstructing development in the world of real estate. Iconic department store Macy’s famously struggled to secure the final corner plot of land for its flagship store in New York in the early 20th century. However, the Molinari-Martinelli family's decision to lease their property marks a new chapter for both their storied Silicon Valley farmstead and Google's ambitious expansion plans.
