The 13,465-square-foot office will house parts of its entertainment division.
The Hollywood Reporter notes that Google (GOOG) has picked up some real estate in a city-owned building in Beverly Hills. This isn't its first foray into the City of Angels. Google, earlier this year, announced it would be acquiring 100,000 sq. feet of space in the landmark Frank Gehrey "Binoculars Building" in Venice – close to Apple's (AAPL) advertising agency Media Arts Lab.
This new parcel is much smaller at 13,465 square feet:
The 11-year lease agreement, which is valued at $6.3 million, was approved by Beverly Hills City Council on Tuesday. It is expected that the Google will move into the building at 331 Foothill Rd. by the end of the year, once improvements to the office space are completed.
The move is said to house Google and YouTube employees tied to the entertainment industry said the report. Google's office space ramp up coincides with reports that it is spending $100 million to produce high quality content for YouTube.
More on Fortune.com:
|Will millennials kill Costco?|
|Stocks: It's report card time on Wall Street|
|Pope Francis challenges the free market - The Buzz|
|Nonprofits that pay top fundraisers $1 million (or more) a year|
|Americans have fallen in love with real estate once again|