Boston Properties Pays $135M for Google-Adjacent Platform 16

In a world of smart real estate plays at a price, acquiring a 1.1 million-square-foot development site adjacent to a future Google mixed-use district for a reported price of $134.5 million can be considered a safe bet, and double-down commitment from Boston Properties to be a dominant player in Bay Area tech-centric real estate submarkets.

As first reported by the San Jose Mercury News, Boston Properties has exercised its option for acquiring the full spectrum of entitlement rights for the 5.5-acre Platform 16 development project from TMG Partners and Oak Partners, having already committed to a 65-year ground lease that included the acquisition option.

Kohn Pederson Fox Associates has designed the trio of six-story office buildings with floorplates ranging from 28,000 to 88,000 square feet. The project is strategically located near Caltrain’s Diridon Station and its future BART line, and directly adjacent to Google’s 7.3 million-square-foot transit village.

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