Apple Acquires New Bay Area Campus for $350 Million
AI-summarised brief · reviewed before publication
Apple has expanded its Bay Area portfolio with the purchase of a two-building campus in Sunnyvale, Santa Clara County, for a whopping $350 million. This deal brings the total amount spent by Apple on local real estate this week to over half a billion dollars. The newly acquired campus, located at 615 and 625 North Mathilda, spans over 380,000 square feet and has the potential to accommodate between 1,500 to 1,900 workers. The campus is situated just under seven miles from Apple Park. According to Kristina Raspe, Apple's Vice President of Global Real Estate and Facilities, "The Santa Clara Valley has been home to Apple for more than 40 years, and we're proud to continue investing in world-class facilities for our teams here." This purchase marks the second major real estate deal for Apple this week, following the acquisition of the Tantau office complex for $160 million. Apple had previously leased both properties before making the purchase, a common practice for the company. In 2022, Apple acquired a longtime Cupertino office it had rented since 2011. Documents filed at the Santa Clara County Recorder's office confirm the sale price of $350 million, bringing the total amount spent by Apple on Bay Area real estate this week to over $500 million.
