Google Search Results in Lease at 111 Eighth Avenue Space Will Serve as Google's N.Y.C. Headquarters

NEW YORK CITY - Google Inc. (NASDAQ: GOOG) is establishing a new site at 111 Eighth Avenue, where it will house its New York City headquarters, announces Taconic Investment Partners, the managing partner of the landlord.

By late 2006, the company will have fully moved into its space, which encompasses the entire fourth floor and parts of the fifth and eighth floors.

"Google's decision underscores the enormous appeal of 111 Eighth to leading companies, which appreciate the unique and aesthetically-pleasing characteristics of the building," says Paul Pariser, a co-founder and principal of Taconic. "These include floors that encompass more than four acres of space, 15-foot-high ceilings, and outstanding light through 10-foot-high picture windows."

As a facility that houses headquarters for many firms, notes Mr. Pariser, the building provides brand-name companies with everything they need in a world-class office building, including technology, power, redundancy, and, most important, long-term potential to accommodate growth.

"Another attraction is the rapidly emerging neighborhood at the crossroads of Chelsea and the Meatpacking District, the hottest office/new media location in New York," adds Gregory Knoop, Taconic senior vice president. "And the prime location and wide range of transportation options supplements the building's physical characteristics."

The landlord was represented in the transaction by CB Richard Ellis and Taconic Management Company; Google was represented by Bailes & Associates and GVA Williams.

Google's innovative search technologies connect millions of people around the world with information every day.

111 Eighth Avenue is a 16-story building located at the crossroads of Chelsea and the Meatpacking districts of midtown south, an area that is seeing explosive growth for media, entertainment, technology and corporate users. 111 Chelsea Commerce LP, a partnership led by Taconic Investment Partners LLC that includes Jamestown and New York State Common Retirement Fund, owns the building. The building's prestigious tenant roster includes barnesandnoble.com, Citibank, Deutsch Advertising, Lifetime TV, Doubleclick, Level 3 Communications, Nike USA, Sprint, WebMD Corp., and Verizon.

Since its inception in 1997, Taconic Investment Partners LLC has acquired and developed more than eight million square feet of office properties in New York, Chicago, Washington, D.C. and Atlanta. In the last three years, Taconic has acquired new sites for developments of up to 1.5 million square feet of rental and condominium housing.

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