Google's Playa Vista purchase and appreciation

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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?