Apple Could Create Largest Campus Yet in North San Jose
Want to get a jump-start on upcoming deals? Meet the major Silicon Valley players at one of our upcoming events!
If the draft agreement proceeds (it's set to go before the city planning commission later this month), the proposed campus would dwarf even the 2.8M SF "spaceship" campus Apple is building in its hometown of Cupertino. The agreement would lock in Apple's development rights for 15 years, the Silicon Valley Business Journal reports.
Apple owns 28 acres purchased this summer for $165.8M (which includes the 101 Tech campus, shown above) and it recently bought 43 acres for $138M. The agreement also includes 16.5 acres owned by Steelwave, where Apple has leased a 200k SF building under construction.
Development of the proposed site could go in several directions to house anything from office space to manufacturing to research and development. The city council is expected to discuss the agreement at its Dec. 8 public hearing and could amend a development agreement already attached to one of the pieces of property Apple now owns (which could help Apple save on impact fees). [SVBJ]