Apple shopping spree: The tech giant has tripled its U.S. holdings since 2016

The company is increasingly opting to buy rather than lease

TRD LOS ANGELES /
Nov.November 11, 2018 08:32 AM
(Credit: iStock)

Apple has been buying up land across America.

The company has nearly tripled its U.S. land holdings from the 2,583 acres it owned in 2016 to the 7,376 acres the company declared in last week’s annual report, according to the Financial Times. In 2011, Apple owned a mere 584 acres.

The rapid scaling up of Apple’s portfolio is due to the company’s growing need for server farms to run its web-based services. Of late, Apple has favored buying the land for its properties outright as opposed to leasing. Much of Apple’s new properties are located in Iowa, Nevada and throughout northern California.

A portion of the land is being dedicated to renewable energy sources, such as solar, to help power Apple’s grid. [FT] — Erin Hudson


Related Article

arrow_forward_ios
From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder)

Raintree Partners spends $79M on Glendale multifamily portfolio

LA Mayor Eric Garcetti

Down goes Measure EE: Property tax referendum routed at polls

CIM Group Founders, Shaul Kuba, Richard Ressler, and Avi Shemesh and 4750 Wilshire Boulevard (Credit: Google Maps)

CIM Group lists part of its Miracle Mile office campus

Arman Gabay and The Springs shopping center in Palm Springs, part of the 14-property portfolio

Charles Co. secures $215M refi for retail portfolio

Joon Choi, principal at Harbor Associates, and 2400 Conejo Spectrum Street (Credit: Google Maps)

Harbor Associates leases up then sells off its Thousand Oaks office park

9300 Wilshire Boulevard

Land under historic Beverly Hills office building sells for $25M

arrow_forward_ios