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The Real Deal Los Angeles

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

The company is increasingly opting to buy rather than lease
November 11, 2018 08:32AM

(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