(THE VERGE) Google has sealed a deal to lease NASA’s Moffett Airfield for the next 60 years after beginning negotiations for the land back in February. Under terms of the agreement, Google will pay NASA an estimated $1.16 billion in rent over the life of the agreement, with addition funds going toward the restoration of a more than 80-year-old hangar, known as Hangar One, that sits on the property.
Google may use Hangar One, as well as two sequentially named hangars on the airfield, as a space for research, development, assembly, and testing of technology related to robotics, aviation, space exploration, and other new fields once it moves in.
The deal was made through Google’s real estate subsidiary Planetary Ventures, which won the ability to negotiate for the airfield back in February.
