Apple’s real estate takeover in the Bay Area continues with a $365 million Mathilda Campus just north of Apple Park in Sunnyvale, California.
Silicon Valley is already packed to the brim with tech companies filling out every office space available. Even after Apple Park, the campus that can hold 12,000 employees, Apple has been taking over real estate across the Bay Area.
According to a report from SF ChronicleApple is under contract to buy a four-building Mathilda Campus in Sunnyvale for $365 million. It is a 663,000 square feet campus that is already majority leased by Apple.
The latest purchase is the third by Apple in the San Francisco region in recent months. It also acquired two buildings next door to the new Mathilda campus for $350 million and the Tantau “Cupertino Gateway” buildings near Apple Park for $160 million.
That means Apple has spent about $882 million on real estate expansion alone in the previous three months.
Apple is among several companies buying up offices in the Bay Area in spite of widespread layoffs and other issues. However, the region is still dealing with high vacancy rates, with San Francisco over 30% and Sunnyvale at 18%.
