Apple acquired two high-profile office campuses late last month, both of which it had long leased: the Cupertino Gateway complex ($166.9 million) and the Mathilda Commons campus ($350 million), according to CoStar News and several other media sources.
The Cupertino Gateway complex is a trio of buildings on North Tantau and Stevens Creek Boulevard totaling roughly 220,000 square feet. CoStar notes the deal for the building is “among the largest on record for Cupertino.”
The Mathilda Commons campus is a two-building property on North Mathilda Avenue in Sunnyvale encompassing 382,500 square feet.
Market watchers believe the acquisitions signal a positive post-pandemic turn for tech giants in Silicon Valley. Apple’s moves reflect the region’s “slow but steady post-pandemic rebound,” CoStar reports.
Apple real estate executive Kristina Raspe told CoStar in a statement, “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.”