Despite uncertainty surrounding return-to-office dates amid the recent COVID-19 surge, big tech continues to invest in Silicon Valley real estate. This summer, LinkedIn made headlines for the purchase of its Sunnyvale HQ, and Amazon began the expansion of warehouses throughout Santa Clara County. Google, Meta, and Tesla have also recently invested in office and land sites in various South Bay zip codes.
Apple is also expanding locally. Headquartered in Cupertino, Apple put down roots in Sunnyvale on Jan. 14 when the company filed their $44 million building purchase with the Santa Clara County Recorder’s Office. County files show the company paid all cash for the property located at 123 Uranium Drive.
The 105,000-square-foot building was purchased from an affiliate linked to the Public Retirement System of Nevada and Invesco Real Estate, an investment firm with a global reach reported the Mercury News. Apple previously leased the property. The lease was set to end sometime this year.
In May of last year, Apple signed a lease for 698,000 square feet of office buildings in Sunnyvale’s Pathline Park. Additionally, Apple disclosed plans of major remodels at three of their San Jose properties in August. Just months before the 123 Uranium Drive purchase, the company acquired five Cupertino sites for $450 million.