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3mo ago

Apple Spends $517 Million on South Bay Offices in One Week

The deals convert leased campuses into owned assets as Apple reinforces its four-decade commitment to Silicon Valley

A view of Apple Park in the corporate headquarters of Apple Inc. in Cupertino. Apple spent $517 million this week to buy office campuses in Sunnyvale and Cupertino, reinforcing its deepening presence in Silicon Valley.
The Apple Park headquarters building is visible from the roof of the visitor center in Cupertino. Apple spent $517 million this week to buy office campuses in Sunnyvale and Cupertino, reinforcing its deepening presence in Silicon Valley.
Apple CEO Tim Cook at Apple Park in Cupertino. Apple spent $517 million this week to buy office campuses in Sunnyvale and Cupertino, reinforcing its deepening presence in Silicon Valley.
Office campus at 615 and 625 North Mathilda Avenue in Sunnyvale, seen in Nov. 2024. (Google Maps)

Overview

  • Apple finalized a $350 million purchase of the 382,500-square-foot Mathilda Commons two-building campus in Sunnyvale on June 26.
  • On June 24, the company closed on a three-building, 220,000-square-foot Cupertino campus at 10200 North Tantau Avenue for $166.9 million.
  • The week’s acquisitions complete five separate property purchases in the South Bay, expanding Apple’s local office portfolio.
  • The Sunnyvale campus, previously leased from Jay Paul Co., could host between 1,500 and 1,900 employees under Apple’s expansion plan.
  • Kristina Raspe, Apple’s vice president of global real estate and facilities, said the new properties will support world-class facilities for its teams in Silicon Valley.