Apple has tentatively agreed to buy an office campus in the South Bay of Sunnyvale, California, in a deal that extends the company’s shopping spree in Silicon Valley, reports SiliconValley.com.
Near the corner of North Mathilda Avenue and West Maude Avenue in Sunnyvale, the purchase price for the campus Apple is already leasing is expected to be in the vicinity of US$365 million, the article adds, quoting “sources who have knowledge of the transaction and were not authorized to speak on it.”
The campus totals 636,500 square feet, a post on a Kilroy website shows. The addresses of the office buildings are 505 and 555 North Mathilda and 605 West Maude Ave. The campus also includes an amenities building that offers a fitness center, cafeteria, cafe areas, and outdoor seating in a large courtyard.
SiliconValley.com notes that Apple previously bought other office properties it had been leasing in Cupertino. To wit:
° In 2021, it paid $450 million for a five-building complex along North De Anza Boulevard, Mariani Avenue and Valley Green Drive near Interstate 280.
° In 2023, it acquired a 10-building campus known as Apple Results Way. The company and the seller kept the price secret. Also in 2023, Apple paid $70 million for an office building at 10200 North De Anza Blvd. The deal represented a 35% decline in the building’s value.
° In at least one instance, Apple was a seller in the South Bay. It sold a north San Jose building to Samsung for $27 million in February.
The purchase of the Kilroy-owned campus would bring Apple’s total purchases to roughly $881.9 million in 2025.
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