Apple has bought a huge office and research complex in Cupertino which it had leased in 2011 in a rental deal, further solidifying its Silicon Valley presence (via SiliconValley.com)
Called the Apple Results Way Campus, the office is located west of State Route 85 near the corner of Bubb Road and McClellan Road. It’s also a few miles from Apple’s spaceship office complex.
The move comes at a time when a narrative has emerged that tech companies are scaling back their office holdings.
According to documents filed on Dec. 23 with county officials, the seller was a corporate entity that is wholly owned by Apple. That entity is a designated successor of the actual prior owner.
Payment of a county transfer tax is not required in such cases when the buyer and seller are essentially made up of the same people.
In 2020, the Swift Realty Partners affiliate paid $346 million for the tech campus. In mid-2022, the assessed value of the tech campus was $352.8 million. That’s an increase of just under 2%.
“The Class A office and R&D complex sits on nearly 20 acres in Cupertino, which has one of the lowest vacancy rates in Silicon Valley,” Swift Realty Partners states on a web page for the Apple Results Way Campus.
The campus totals 383,700 square feet and is situated in a Silicon Valley suburb that’s characterized by Apple’s huge decades-long presence.
