Google's Playa Vista purchase and appreciation

[Account Closed]

Hey BP!

Here in Southern California, Google has made a significant purchase of 12 acres of empty land in Playa Vista, CA for $120MM. You can read about this move in a Dec '14 LA Times article here: http://www.latimes.com/business/realestate/la-fi-p...

Of particular importance: "Google's land purchase 'brands Playa Vista as the tech and innovation capital of Los Angeles,' councilman says."

I'm interested in reading from any professional investors out there what this could mean for appreciation in the surrounding areas, namely Westchester, Playa Del Rey, MDR, and El Segundo. As young techies continue to relocate and propagate the expansion of the Silicon Beach movement out here, could this landmark purchase by Google deliver huge prospects for local investors?

[Jon Huber]

@Account Closed @Shane W. @Peggy Liu 

I purchased my primary home in Mar Vista in 2012. There were talks of Playa Vista building up but it was more about The Runway (Playa Vista Downtown plans) with the retail stores and movie theater. I was thrilled when they began building this massive plan, and I can only imagine the value that Google will now bring.

However, there is a HUGE downside though. The majority of the construction workers are not local to the Playa Vista area, thus making them commute. The city is realizing that there is a HUGE lack in public transportation to this area. This article states this as Playa is a "Public Transportation Dead Zone". It mentions Google's recent purchase, but also states that Yahoo is renting out some space in Playa as well. Check this out: LA's Hottest Office Hub is Public Transportation Dead Zone