Apple Buys More Cupertino Offices for $216 Million

Apple’s office shopping spree in the South Bay is continuing into the final weeks of the year.

The multi-trillion dollar company bought two office buildings it occupies at 19319 and 19339 Stevens Creek Boulevard in Apple’s hometown of Cupertino in a $216 million all-cash deal, the Mercury News reported. The seller was a group whose executives include Peter Pau, president of Sand Hill Property Company.

Apple occupies the buildings located in the mixed-use Main Street Cupertino complex. The 19319 Stevens Creek building spans approximately 136,600 square feet, while the 19339 structure totals about 129,900 square feet.

The purchase caps off a year of property acquisitions in the Santa Clara Valley for the tech giant. In June, Apple bought a three-building, 220,700-square-foot office park at 10200 North Tantau Avenue from PGIM for $166.9 million. Later that month, Apple bought the Mathilda Commons office campus at 615 and 625 North Mathilda Avenue in Sunnyvale for $350 million; Jay Paul Company was the seller of the 382,500-square-foot, two-building property. The iPhone maker continued its tear through Sunnyvale in September with the purchase of a four-building office campus at 505-599 North Mathilda Avenue and 605 West Maude Avenue for $365 million. Kilroy Real Estate sold the 663,500-square-foot complex to the Tim Cook-led tech firm.

Overall, Apple’s office purchases this year exceed $1.1 billion, according to the Mercury News. The company also shed some space, selling off a 70,700-square-foot office building in north San Jose to Samsung earlier this year for $27 million.

The Steve Jobs-founded firm has had its roots in the South Bay since first forming in Los Altos in 1976 and incorporating in Cupertino the following year. The company’s market cap is nearly $4.1 trillion as of this month, making it the world’s second-most valuable company behind fellow South Bay giant Nvidia. — Chris Malone Méndez