Google will reportedly buy the New York shopping emporium Chelsea Market for $2 billion

Madeline Stone / Business Insider
  • According to The Real Deal, Google is acquiring New York shopping emporium Chelsea Market for $US2 billion.
  • The company already owns 400,000 square feet of real estate inside, and has offices located directly across the street.
  • Google’s reported plans for the space are currently unclear.

Google is reportedly acquiring New York shopping emporium Chelsea Market for $US2 billion. As originally reported by The Real Deal, the tech company has plans to close the deal in April.

Google already counts itself as Chelsea Market’s largest tenant, occupying 400,000 square feet of real estate on an upper floor. In 2010, the company purchased the sprawling office space across the street from Chelsea Market for $US1.9 billion, and constructed an overhead walkway connecting the two buildings.

At the moment, there’s no clear indication of Google’s plans for the space, which currently houses a number of shops and eateries. Representatives from Google did not immediately respond for comment on the matter.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.