Apple’s real estate spree in Silicon Valley continues, as the company is reportedly in contract to make its third major Bay Area acquisition this year alone. Here are the details.
$882 million in a little more than a month
Citing sources familiar with the deal, the San Francisco Chronicle says that Apple has agreed to purchase the four-building Mathilda Campus at 505–599 North Mathilda Avenue and 605 West Maude Avenue for $365 million.
As with the other two recent acquisitions, Apple already leases the majority of the 663,000-square-foot complex, and has been using three of the four buildings.
Just last month, Apple shelled out $350 million for the neighboring 615 and 625 North Mathilda Avenue buildings, and finalized a $166.9 million deal for the Cupertino Gateway complex just south of Apple Park.
With this latest acquisition, Apple’s Bay Area real estate spending for the year is nearing $900 million, going against the broader trend of shrinking physical footprints in the post-COVID era, even as return-to-office efforts have brought more workers back to the region.
In a statement provided to SiliconValley.com last month and now again to the Chronicle, Apple’s VP of Global Real Estate and Facilities, Kristina Raspe, said:
“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.”
Interestingly, she didn’t confirm, nor deny the latest acquisition, as it hasn’t been finalized yet.
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