Apple buys large Sunnyvale building
SUNNYVALE >> Apple has bought a big building in Sunnyvale, the latest in a series of deals in recent years that indicate the tech titan continues to widen its foothold in Silicon Valley.
The iPhone maker paid $44 million for the building, located at 123 Uranium Drive, according to documents filed Jan. 14 with the Santa Clara County Recorder’s Office. The property purchase was an all-cash deal, the county files show.
The seller was an affiliate linked to the Public Retirement System of Nevada and Invesco Real Estate, an investment firm with a global reach. Invesco and the retirement system appear to have harvested a hefty profit with the property purchase. The Invesco-led group paid roughly $15 million in 2013 when it bought the building as part of a portfolio purchase.
The building totals 105,000 square feet and occupies about 5.8 acres, according to commercial property listing services.
Apple has been busy with an array of property transactions lately despite uncertainties about the effects of the coronavirus on how quickly companies might return to work.
Cupertino-based Apple has signed leases, bought properties and launched development plans in a push to expand its holdings in Santa Clara County.
• In 2019, Apple paid $290 million for a twobuilding office complex at the corner of Stevens Creek Boulevard and Torre Avenue in Cupertino.
• Apple has leased two big office buildings, one under construction, in Santa Clara on Stevens Creek Boulevard near Lawrence Expressway. These buildings, owned by legendary development firm Peery Arrillaga, total a combined 334,500 square feet.
• In May 2021, Apple leased 698,000 square feet in a deal that allows the company to rent a half-dozen big office buildings in Sunnyvale’s Pathline Park.
• In September 2021, Apple paid $450 million to buy five office buildings near the interchange of Interstate 280 and North De Anza Boulevard in Cupertino.
The buildings are all near the iconic Apple complex on Infinity Loop. Apple was leasing all the buildings at the time of purchase.
• In August 2021, Apple disclosed it had launched interior improvements for two north San Jose buildings that are within an 85acre site where the tech company is eyeing a vast tech campus on sites that it owns. The improvements are being completed ahead of Apple moving into the two buildings. One building is at 2325 Orchard Parkway and totals 286,000 square feet. The other building is at 2509 Orchard Parkway and totals 202,000 square feet.
• In west San Jose, Apple has conducted interior improvements at a prominent office site totaling 85,600 square feet known as the Triangle Building at 5300 Stevens Creek Blvd.
Apple is far from the only tech company that is actively taking steps to expand in Silicon Valley through rental, purchase, or development deals.
Google, LinkedIn, Facebook app owner Meta Platforms and Tesla have all been taking office or land sites that enable them to expand in Santa Clara County.