Google has quietly unloaded a slice of its Peninsula office empire, selling off several buildings at Redwood City's waterfront Pacific Shores Center. The end-of-April transactions move long-held Google properties into institutional hands and mark another step in the company’s multi-year reshaping of its Bay Area footprint.
Recorded sale details
County records show three Pacific Shores Center buildings changed hands on April 30 for a combined $45.6 million, in a deal tied to an affiliate of a buyer group led by Farallon Capital Management, according to The Mercury News. The official filings list the conveyances and the affiliate buyer name in the San Mateo County recorder’s public records.
Farallon buys across the campus
The sale plugs into a broader ownership reshuffle at the waterfront complex. Commercial Property Executive reports that, according to Yardi Matrix, Farallon now controls nine of the 11 buildings at Pacific Shores, taking on nearly 1.4 million square feet of space, while two buildings remain owned by Informatica. That larger haul includes a mix of office and amenity space that has been in the mix for Peninsula tenants scouting for leases.
Financing behind the deal
Mortgage and deed filings show the buyer group lined up $173.6 million in acquisition financing from Acore Capital, according to county-recorded documents cited by The Registry. Those mortgage documents were recorded alongside the deeds at the San Mateo County recorder’s office.
Why Google is pulling back
Google told The Mercury News that it has not occupied the Pacific Shores buildings since July 2024, as part of a broader pullback in office usage in recent years. The company’s Peninsula presence dates back to major acquisitions in the 2010s, and this latest sale continues the rebalancing of its Bay Area real-estate holdings.
What this means for Redwood City
Industry coverage indicates the Bay Area office market is still churning, even as vacancy remains elevated. Commercial Property Executive notes that brokers were marketing hundreds of thousands of square feet at Pacific Shores as recently as last year. Local officials and current or prospective tenants will be watching to see whether the new ownership leans toward leasing the space as-is, modernizing it, or eventually pursuing a different use for parts of the waterfront campus.
For now, the recorded documents outline the buyer group and its financing but do not provide a public timetable for leasing or redevelopment. City planning submissions and brokerage listings in the months ahead will likely offer the clearest clues to what Farallon has in mind for this corner of Redwood City’s shoreline.
