The invention of television equally met with the Internet has easily become the two most famous ways of communication and entertainment to have ever been created in history. With it as popular as it ever was, new changes as well as new advancements around the viewing platforms start to take place around the world. We are now starting to see a major change of growth from TV to online viewing. People across the world are starting to spend more time watching videos online using their smartphones, tablets, or any other gadget available, instead of using their TV cable subscriptions, something known as "Cord Cutting", with YouTube being one of the leading online video platforms across the world.
With its exceptional growth in viewing, YouTube is now acquiring more office space to expand its empire even more. Google Inc.'s YouTube division just made one of its biggest office space expansions yet, buying 554,328 square feet of office space in San Bruno. Costing Google $215 million or about $388 per square foot. They obviously needed the space as the tech giant continues to soar to new heights and reach new technological advancements. The building Google acquired, Bayhill Office Center, was sold to them by Hudson Pacific Properties which is a five-building campus that is also neighboring YouTube's existing headquarters. Being San Bruno's largest private employer, YouTube appears to be seeing tremendous growth as the video streaming company takes on more space to fill with its current 800 employees.
With Google not exactly saying just how fast YouTube is ready to expand into its new offices, it's clear Google wanted to hurry and buy as much space as possible seeing that Bayhill is already essentially full with major tenants including Walmart Labs, Oracle, and many other companies. With how successful Google has been near its Mountain View headquarters, this has sent many tenants scooping up space to the south, jumpstarting the market. Hudson Pacific states that the deal was done off market and resulted in a profit of $187.3 million. With Youtube acquiring the massive amounts of space, it's probably safe to assume that we will undoubtedly see more great things coming from the Google-owned company in the near future.