Apple has acquired another office campus in Silicon Valley, moving its recent property spending in the area closer to $1 billion. The company paid $365 million for a four-building complex located at 505-599 North Mathilda Avenue and 605 West Maude Avenue in Sunnyvale, according to the Mercury News. The campus was previously owned by Kilroy Realty, and Apple had already been leasing more than 580,000 square feet of space there. With this transaction, the price comes out to about $550 per square foot.
This purchase is the latest in a series of real estate acquisitions by Apple in Santa Clara County over the past few months. In June, Apple bought a three-building office campus at 10200 North Tantau Avenue in Cupertino for $166.9 million from PGIM. That property covers approximately 220,700 square feet.
Two days after that deal, Apple purchased another Sunnyvale office complex—Mathilda Commons at 615 and 625 North Mathilda Avenue—for $350 million from Jay Paul Company. This site includes two buildings with a total of about 382,500 square feet of office space.
Apple has continued to invest heavily in real estate within Santa Clara County and especially around its longtime headquarters city of Cupertino. In early 2023, it bought a ten-building campus known as Apple Results Way from Swift Realty Partners; the price was not disclosed but Apple had leased the site since 2011. Later that year, it spent $70 million on an office building at 10200 North De Anza Boulevard from Rubicon Point Partners.
The De Anza property is close to another significant acquisition made by Apple in 2021: a five-building complex including addresses on North De Anza Boulevard and Valley Green Drive purchased for $450 million from affiliates managed by developer Carl Berg.
These purchases are part of Apple’s strategy to secure control over properties it already occupies and reinforce its presence throughout Silicon Valley.
“The latest purchase in Sunnyvale, like the previous ones made this summer, are part of the company’s efforts to take control of offices it has leased and further strengthen its foothold in the region,” wrote Chris Malone Méndez.
