Apple Doubles Down On Cupertino With $167M Campus Purchase
Apple has dropped $167M on a three-building office campus near the company’s Cupertino headquarters, expanding its presence in the region.
The company already occupied the Cupertino Gateway offices before acquiring the buildings from the previous owners in an all-cash deal, The Mercury News reported.
This acquisition adds 220K SF to Apple’s real estate portfolio in the area.
The company purchased another large Cupertino campus in 2022 after leasing it for 10 years. At that time, it seemed as if tech companies were fleeing California, and the purchase cemented Apple’s presence in Silicon Valley.
Earlier this year, Apple announced a plan to invest $500B in the U.S. over the next four years. The commitment includes plans to open new manufacturing facilities, data centers and corporate facilities.
Many of the company’s real estate investments will be focused on Houston, Detroit, Arizona and Nevada. Houston will be the home of a new 250K SF manufacturing facility for artificial intelligence servers. Detroit is getting a manufacturing academy to train small manufacturers on integrating AI technology into production.
The company sold a San Jose building to Samsung for $27M in February.
