Real estate agents are learning what Google
It won't all be new digs for the company -- it had already subleased office space in one of the buildings -- but it's still mildly ironic that the virtual real estate baron is now buying up the real stuff, too.
Investors have little reason to be nervous, but they might want to ask Google if this property-buying spree was the reason for the pair of secondary offerings it undertook over the past year. Since it was flush with cash, shareholders probably expected Google to make some material acquisitions, not just a choice between the top hat and the thimble in a game of Monopoly.
Beyond its $1 billion investment for a 5% stake in Time Warner's
Unless there's black gold bubbling underneath the Mountain View soil to which Google just snagged the title, let's hope the company's next wave of purchases will be financially material ones.
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Longtime Fool contributor Rick Munarriz is a huge fan of Google, and it would be his homepage if not for Fool.com. He does not own shares in any of the companies in this story. The Fool has a disclosure policy. Rick is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.
