Apple acquires yet another office campus it was already leasing

It’s been a good week for Apple’s real estate team. Just days after finalizing a $166.9 million deal for the Cupertino Gate office complex, the company has closed another major acquisition, pushing its South Bay real estate tab to over half a billion dollars in a single week.

US$516 million in South Bay acquisitions

As reported by SilliconValley.com (via AppleInsider), Apple has just closed a $350 million deal to purchase Mathilda Commons, a two-building 382,500 square feet office campus in Sunnyvale.

The newly acquired site, which sits just under seven miles north or Apple Park, and can accommodate up to 1,900 employees. Apple paid almost 20% above the property’s assessed value as of January, a sign of the location’s strategic importance and rising market demand.

In a statement to SiliconValley.com, 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”

The acquisition marks one of the largest office deals in the Bay Area so far this year, and fits squarely into the company’s ongoing recent trend: converting long-held leases into full ownership across the South Bay.

As noted by SiliconValley.com, other recent acquisitions include: a $450 million deal in 2021 to buy a five-building office complex, a 10-building campus known as Apple Results Way in 2023, and a $70 million purchase of an office building in 2023.

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