Apple buys 2 new buildings in Cupertino; crosses the $1 billion dollar mark in Bay Area property

Apple

Apple has added two more office properties to its growing Bay Area footprint, pushing its local real estate spending past one billion dollars in only a few months. The latest acquisition involves a pair of buildings on Stevens Creek Boulevard, purchased for a combined two hundred and sixteen million dollars, according to filings reported by SiliconValley.com.

The two sites, located at 19319 and 19339 Stevens Creek Boulevard, total roughly two hundred and sixty six thousand square feet. Apple paid in cash, continuing a pattern seen across its recent deals. Since June, the company has moved aggressively across the South Bay property market, picking up major complexes at a pace that has surprised even long-time real estate watchers.

The spree began with the three-building Cupertino Gateway complex at one hundred and sixty six million dollars, followed by the four-building Mathilda Campus for three hundred and sixty five million dollars. Soon after came an additional pair of buildings acquired for three hundred and fifty million dollars. With the latest purchase, Apple has cleared the one billion dollar mark in less than half a year.

Apple says the strategy is intentional and reflects the scale of its ongoing expansion. Kristina Raspe, vice president of Global Real Estate and Facilities, said the company remains committed to strengthening its presence in the Santa Clara Valley, calling the area Apple’s home for nearly fifty years. She said the new facilities are designed to support collaboration and innovation for employees building products used across the world.

Internal estimates indicate Apple’s Bay Area expansion will cross one point five million square feet of new office and lab space this year. After years of speculation about whether the company would shrink or consolidate its physical footprint in the post-pandemic era, the message is now clear. Apple is investing for the long term and consolidating its grip on the region surrounding its headquarters.